NEW YORK (CNNMoney.com) -- Employers are getting hit with a massive tax hike at a time when they can least afford it.Gosh, what could higher taxes on employers lead to? Class? Anyone? Bueller?
Companies in at least 35 states will have to fork over more in unemployment insurance taxes this year, according to the National Association of State Workforce Agencies.
The median increase will be 27.5%. And employers in places such as Hawaii and Florida could see levies skyrocket more than ten-fold.
"We have too many people drawing unemployment! The system is drained! We need to raise taxes on employers that are already laying people off!" Jesus wept, Skippy, are you trying to get everybody on the dole? No, wait... Don't answer that.
This can't be good for anyone.
ReplyDeletes
wv: pitzd: The technical term for what BO is doing to the economy. Simular to the manuver that police use to put a fleeing bad guy's car in the ditch.
The concepts you have focused on recently...the concepts of economy of scale and mass production yesterday, and supply-side economics today, are not only foreign, but *irrelevant* to Skippy and his minions, as they have no benefits as to voter acquisition.
ReplyDeleteThe feel that this is the right thing to do, which in some way relates to their thinking on the economy.
ReplyDeleteWhich is pretty damn scary.
He's just trying to make more Democratic voters. Once you're under their care, you'll understand how great it is not to have to worry about such silliness as being productive.
ReplyDeleteI imagine they're attempting to use the increase unemployment taxes to further extend unemployment benefits. Which, since they're currently extended to, what, two years? might be a not unreasonable thing to do, considered in a vacuum.
ReplyDeleteThis isn't Barack, y'all, this is at the state level.
ReplyDeleteWhat's so ridiculous about a functioning perpetual motion machine?
ReplyDelete"Congress Passes New Law of Thermodynamics."
Didn't you get the memo?
It's what human beings, including the voters of New York State want.
ReplyDeleteWhen confronted with the opportunity, has a demos EVER chosen NOT to get a "free", stolen, or on the cuff loaf and circus?
Indeed it is at the 'state' level where these new taxes are being imposed, at the behest of the Federal government's extension of unemployment benefits...
ReplyDeleteGmac
wv: bellyer What needs to happen to a lot of congress critters now.
But, if we'd just let the gummint control all of the economy, centrally planning everything, we could completely eliminate joblessness and poverty.
ReplyDeleteI mean, look at Sweden.
(snark)
Tam,
ReplyDeleteI believe this falls under the feds mandate an extenstion and the state has to pony up their share.
What I find more troubling is if your are self employed and your business goes under, you can not collect unemployment.
Cloward
ReplyDeletePiven.
Learn it, because you will live it. Many states are just as much part of it as the feds.
Well, unemployment payments are supposed to be self-financing, which works fine until (1) you have more people unemployed longer than you planned, or (2) the Won arbitrarily decides to increase everybody's benefits. Then suddenly there's no money, meaning higher rates, creating yet another disincentive for hiring people. Whoops!
ReplyDeleteOTOH, when unemployment is low the states have to compete with each other. That discourages charging extra to build up a reserve (even assuming such a reserve would be protected from pilfering by the legislature for other purposes).
And of course the whole system is based on the fiction that it doesn't cost employees anything because the government extracts cash from those eeeevil employers to pay for it.
We could set unemployment insurance up so everybody had a tax-free "unemployment savings account," and then let the employers pay the employees directly, rather than the government. Individuals could decide how big a cushion they needed, and collect interest, besides.
Of course that would require individual responsibility, plus getting the govt's mitts out of another facet of everybody's lives. Oh wait...
It makes total sense (in Obama's context):
ReplyDelete1. Business typically donates to Republicans.
2. Tossing business the same sort of free cash that the Stimulus is tossing the SEIU results in businesses donating to Republicans.
3. QED.
4. It's all Bush's fault.
Mind you, I'm not saying I agree with it, but this is entirely predictable.
I'll answer for Skippy. YESYESYESYESYESYESYESYESYESYESYES!!!!
ReplyDeleteSince all money is minted by the Federal Government, the Government owns it all and no individual has any right to decide what to do with any of it.
Now, shut up and drink your Kool-Aide!
Uh huh. Skippy says "Yes". Now it makes sense, doesn't it? -- Lyle
ReplyDeleteAs someone who is unemployed, I don't know where all the people who are part of "too many people still unemployed" are.
ReplyDeleteI have had, just this week, 4 phone interviews, 2 in person 1st interviews, and 3 2nd interviews. A majority would require me to relocate but that's okay, someone has to work and I hear TN, FL and SC are nice places to live.
"As someone who is unemployed, I don't know where all the people who are part of "too many people still unemployed" are."
ReplyDeleteGet a county-by-county 2008 election map. See the blue ones? There's your unemployment. ;)