Florida's Unemployment Fund Runs Dry

[Cat-Herder]

Employers to be hit with big fee jump for unemployment - Bay News 9

wow...i don't really know what to say.

 

[Fletch]

While it's good for those without work, Eddie Santangelo, the co-owner of Mezzaluna Pizzeria in downtown New Port Richey, is concerned it could force other businesses like his, to let go of even more people.
"Salaries don't go up, but everything else goes up," Santangelo said. "If taxes go up, I will have to eliminate some of my staff."

...who then go on unemployment, draining the system faster, causing even higher taxes on businesses to keep funding the unemployment system...

Can you say "Death Spiral"?

 

[Paco Bedejo]

 

[CarmelHP]

Hate to tell you, Indiana's UC trust fund went bust last year and taxes were raised on businesses. It still wasn't enough to offset the hemorrhaging with the extended periods and increased benefits. We're borrowing form the federal fund, hoping they'll forgive repayment.

 

[mettle]

Hate to tell you, Indiana's UC trust fund went bust last year and taxes were raised on businesses. It still wasn't enough to offset the hemorrhaging with the extended periods and increased benefits. We're borrowing form the federal fund, hoping they'll forgive repayment.

Yep, my parents own a small tanning, video rental place. They were paying $50 a month to unemployment, now they are paying $500. They are still trying to compete with walmart, CVS etc. and the small red box movie places to survive.

 

[popeye]

People that work in Illinois and live in Indiana pay the bulk of their state taxes to Illinois. Visa versa holds true. About 10 years ago Illinois forced this taxation scheme through. Due to the mass migration of Illinoisans to N.W. Indiana it was claimed that Illinois lost !0 million annually in taxes. Illinois now pays UC to the many unemployed ex Illinois folks that moved here expecting lower cost of living. Since UC averages 14,000 a year from Illinois, it only takes about 715 unemployed here to make 10,000,000. I wonder if their happy across the state line now?

 

[Cat-Herder]

i'm sorry to hear that mettle. and I'm even sorrier to hear what carmelhp had to say! ugh! where are we going? why are we in this handbasket?

 

[mettle]

i'm sorry to hear that mettle. and I'm even sorrier to hear what carmelhp had to say! ugh! where are we going? why are we in this handbasket?

I'm talking about here in Indiana! Their contribution to the unemployment fund was raised that much a while back. Right here in our state.