Unemployment cash shortage

[danfinance2008]

http://money.cnn.com/2008/12/09/news/economy/state_funding.ap/index.htm?postversion=2008120908

NEW YORK (AP) -- Five states, including Ohio, are in danger of running out of funds they use to pay unemployment benefits, meaning they may have no choice but to increase taxes on employers, cut benefits for laid-off workers or borrow the cash.

This comes at a time when job cuts are accelerating and states are facing huge deficits going into next year.

States with unemployment funds that are running low are mostly larger ones that are tied closely with manufacturing


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stated that are running out of money might have taxes raised

atf? dam people are hurting and empl are hurting so were are going to drive the knife all the way in and raise taxes

 

[Fox McCloud]

wow, Ohio is so screwed it's not even funny....I swear, except California, we're the biggest-government State in the Union (and definitely the biggest-government Red State).

in any event it's truly pathetic how people think they can legislate perfection here.

 

[danfinance2008]

wow, Ohio is so screwed it's not even funny....I swear, except California, we're the biggest-government State in the Union (and definitely the biggest-government Red State).

in any event it's truly pathetic how people think they can legislate perfection here.

i am in ohio

dammit

 

[Michigan11]

The whole unemployment tax upon employers is literally killing them. It's such a scam, it lowers the potential wages of employees, costs employers dearly and creates an incentive to sit on your ass and do nothing.

Government believes they can tax us into prosperity!

 

[Johnnybags]

Not to worry , its in the stimulus

Cash for all to stave off a revolution. You'll pay yourself to sit home with your kids grandkids money, its all good as long as the Chinese finance it or Uncle Ben inflates it. Make nothing, do nothing and watch the widescreen with some Inbev Bud for 2 years.

 

[Michigan11]

Cash for all to stave off a revolution. You'll pay yourself to sit home with your kids grandkids money, its all good as long as the Chinese finance it or Uncle Ben inflates it. Make nothing, do nothing and watch the widescreen with some Inbev Bud for 2 years.

...and eat rations of Uncle Ben's rice

 

[IPSecure]

The State Of Ohio Has: (As Of June 30, 2007)
This Does NOT Include Counties, Cities, or Towns!

$65,708,832,000 Total Assets.

$43,051,847,000 Total Liabilities.

$22,656,985,000 in Net Assets.

http://www.obm.ohio.gov/finrep/cafr/cafr07/cafr07.pdf
(Page 29 in PDF)

More Info: http://www.obm.ohio.gov/finrep/cafr/

When is enough, enough?

 

[SevenEyedJeff]

This is why the unemployment program SUCKS!

In good times, there is plenty of money there for the lazy people to collect.

In bad times, the funds are going bankrupt when people really need it because they TRULY can't find a job.

 

[Brian4Liberty]

This is why the unemployment program SUCKS!

In good times, there is plenty of money there for the lazy people to collect.

In bad times, the funds are going bankrupt when people really need it because they TRULY can't find a job.

All insurance is a scam, IMHO. A big, collectivist scam.

 

[TheBMT]

I hate people who use the system cuz they are lazy. I had a friend who lost his job and now milks the unemployement system because he makes more money sitting at home then working.

I thought he was a hard worker until I found that out.

 

[danfinance2008]

I hate people who use the system cuz they are lazy. I had a friend who lost his job and now milks the unemployement system because he makes more money sitting at home then working.

I thought he was a hard worker until I found that out.

the guy accross the street is the same way. his father in law owns 2 houses, the one he lives in and the one next door. the one next door his daughte , husband and 3 kids live there. he does not work at all, she works part time cuttin hair.

i was talking to me one day and let loose, he told me they do not pay a thing. no rent. to make matters worse, he has to pay for the property taxes, house insurance and upkeep on the house.

i have lived accross from him two years and helped him shovel in winrter and a few things in the summer. he told me i have done more for him than his soninlaw has ever done. he told me one day he asked him to help move some dirt, and he told his fatherinlaw that is 65, and has a heart problem to do it yourself,

 

[HOLLYWOOD]

HAH HAH!

Look what I found on the biggest Socialist state in the nation. You know, the ones that give free/discounted schools, meals, medical, dental, rent, utilities, education to illegals and anyone else who can qualify themselves/families...

Look's like California has run out of Unemployment Funds! So what do they do to the workers AND employers, who fund/support this Collectivism Socialist program? Borrow, Bonds, Loans = Debt, AND...

http://www.taxfoundation.org/blog/show/23913.html


I posted last week when I found that Communist California was increasing the percentage of UI on Employers and workers... NOW not only did they increase the %, they increase the ceiling on that percentage AND DECREASED the benefits paid out!

Glad to see those caring socialist politicians are looking out for the California people!

Another Fleecing...

Businesses currently are taxed on the first $7,000 a year that an employee earns. Schwarzenegger would increase that amount to $10,500 and would boost contributions that employers pay into the fund by between $56 and $416 per worker. Companies now pay a maximum $434 per worker. That maximum would rise to $850 a year in January 2010.

The governor will cut the amount that some unemployed workers receive from 50 percent of their weekly pay to 45 percent.

For example, a worker who earned $800 a week and lost his job currently gets a $400 weekly check. Starting in January 2009, that benefit would drop to $360 a week.

People who earn $52,000 or more a year won't be affected because the $450 maximum weekly benefit is unchanged.

The administration's plan takes a little away from everyone, Employment Development Department spokeswoman Loree Levy said.

The tax increases wouldn't take effect until 2010, according to the plan, which is premised on receiving federal loans and grants for 2009 to cover the program's losses. If such aid is not forthcoming, they could probably be moved up.

Politicians coast to coast are publicly fretting about lost jobs and economic slowing. If that's a concern, proposals like this that increase employers' cost of hiring worker (doubling unemployment tax burdens) ought to be carefully considered.

 

[JeNNiF00F00]

People who are getting unemployment also paid their taxes. The govt. TOOK those taxes out of their wages, and the ones who were laid off have an allotted amount of money depending on how long they worked and how much money they put into the system.

There is nothing unfair about "getting it back" IMO. Also, the deal with my state is that they give you more than you would working a crap job, but they begin lowering those wages over a period of 6 months. At the moment I am still unemployeed and only making 150 a week. How can that be "milking the system"??

 

[slothman]

The whole unemployment tax upon employers is literally killing them. It's such a scam, it lowers the potential wages of employees, costs employers dearly and creates an incentive to sit on your ass and do nothing.

Government believes they can tax us into prosperity!

Doesn't it require you to try to find a job, actually trying, not the fake "yeah I'm looking," to get benefits?

Unfotunately they do try to tax in bad times; that's for good times.

 

[JeNNiF00F00]

Doesn't it require you to try to find a job, actually trying, not the fake "yeah I'm looking," to get benefits?

Unfotunately they do try to tax in bad times; that's for good times.

It depends on the state. Here, you have to go on interviews etc., and send in a certain amount of resumes or applications per week. You also have to visit the unemployment office and they decide if you are worthy of unemployment or not. If you are offered a job then you are obligated to take it even if it pays 2 dollars an hour. Once that job is offered, you are off unemployment. Quite frankly its a pain in the ass. It's not a free ride like some of you people think.

 

[Fox McCloud]

i am in ohio

dammit

I do too, and I still say it's the best State to live in...that said, we still have a crappy big government style system here.

 

[mconder]

The domino's are falling.

 

[jkm1864]

I wonder how much longer the welfare system will hold up. They will probably stiff the working class and keep the welfare system as long as possible. I love how this is unfolding and all its going to do is create a lot of pissed off americans. I know if I get laid off after paying into the system for over 12 years and when I need it there won't be anything left.