Posted on 10/01/2009 5:51:20 AM PDT by sickoflibs
From the point of view of businesses, the Catch-22 of unemployment insurance has always been this: When the economy is at its worst, they are taxed the most.
Mark down 2009 as offering no exception to that particular rule. Based on calculations set today, Maryland is poised to raise unemployment insurance premiums to the maximum rate allowed by law in order to replenish a trust fund badly depleted by unemployment claims.
In this, neither Gov. Martin O'Malley nor his Department of Labor, Licensing and Regulation has any choice. The tax rates are set by a statute last amended four years ago. The increase will keep the fund solvent and ensure Maryland can pay unemployment benefits (as also required by law) without borrowing money from the federal government.
No doubt many employers will absolutely hate this. Just as the recession is bottoming out, they are getting hit with an additional expense. For the typical employer - one of the roughly 55 percent that have not laid anyone off - this represents more than a tripling of the tax, from $51 per employee to $187 annually.
Companies with recent layoffs will have to pay more. That's also built into the law - much as those with poor driving records are given no choice but to pay more for auto insurance.
(Excerpt) Read more at baltimoresun.com ...
If you realize both parties in Washington think our money is theirs and you trust them to do the wrong thing, this list is for you.
If you think there is a Santa Claus who is going to get elected in Washington and cut a few taxes and spend a few trillion and jump start the economy, and get our lost money back, this list is not for you.
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Dems just don't get it. Jobs pay for government. Jobs pay taxes. When you kill them with higher taxes they go away and you get even LESS revenue.
How about CUTTING GOVERNMENT SPENDING????
Here’s an idea: how about taxing the EMPLOYEES for umemployment insurance, since they are the ones who benefit from it.
Maryland “Freak State” PING!
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