Everyone knew it was just a matter of time before the state laws would kick in and require a higher premium for unemployment insurance taxes.
Employers are getting hit with a massive tax hike at a time when they can least afford it.
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.
Too bad our current president hasn’t done anything to lower unemployment and save all those states so much money.
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I agree with this because I saw state regulations drive my parents out of business in California.
From the day they opened to the day State taxes and bureaucratic delays and charges forced them to close, there was no doubt why the business failed. It was the State of California, plain and simple. There is a reason it is called a blue State.
There wasn’t a day that went by that one bureaucrat or another didn’t call with either another regulation or tax or forced improvement to the property that the legislature had just mandated. Mind you, my parents were losing money for the three years they were open. They never made a profit. They worked twelve hour days for three years and ended up owing $140,000 to the banks. Imagine that, working all that time, and falling into debt, while the State Fire Marshall dropped by making $150,000 in tax money, commanding my parents to get all of their brand new fire extinguishers certified at $100 each. Got to have that ticket on them, brand new or not. (So what’s a $500 bill for a store losing $5000 per month.)
(During the time my parents were losing all that money, the Fire Marshals office in Sacramento burned to the ground. Poetic justice? Or some other small business owner who had just had enough? It was one of the only good laughs that I heard in the store during the time they were open.)
The legislature in California report to work every day and think that they are doing a patriotic thing by passing new laws. They never take a breather.
And, they have made small business almost impossible for many.
A person almost has to pay the legislature to get them to lay off. Otherwise they will pave a business over with enough regulations to make it impossible to do anything but move to another State.
Very evil people in Sacramento telling us they are patriots because they have the power to pass whatever ridiculous law that occurs to them. Obviously they have never had to run an honest business. Most of them are lawyers with the mentality of lawyers.
My parents ended up moving to another State and starting over.
This time the State involved understood business. It was a red State.
There weren’t a million freeloaders on the roles to every tax payer.
California is just so incredible. They are drowning in debt now because of the programs that are typical of blue States. Frankly, I would love to see California file for bankruptcy or finally do the right thing and repeal about half of the programs they have forced businesses to pay for without consideration for where those businesses were going to get the funds.
I know that the Governor there is trying. But, he deals with impossible people in the legislature who have no grasp regarding what it takes to make a dollar in this economy or any other.
Beth
My favorite hobby shop:
ToysPeriod is a leading online shop specializing in lego sets and model railroad equipment.