Just another example of government being the problem, when it thinks it's the solution.
Florida news.
This will certainly INCREASE unemployment, as employers cannot afford such confiscatory taxes.
It isn’t just FL. Rates spiked here in AZ as well, and about as badly. I don’t know how companies are staying in business.
A similar thing happened here in Pennsylvania in the early 80’s when the steel industry basically shut down and we suddenly had tens of thousands of long-term unemployed. The state had to borrow the money from the Feds and hike taxes to repay it. Took us many years to dig out of the hole and it depressed employment the entire time.
Yep, from .002 to .054 of gross pay for each employee for the first $7,000 dollars of pay. I can see that cap rising next. Don’t forget you then pay Federal UT 940 at end of year.
They're already hunkered down trying to weather the storm of assaults from BHO and his gang but it will be too much.
Come on November.
“Most of the businesses will have to pay the tax after the first quarter of this year. And in addition to the rate increase, they will be paying the tax on the first $8,500 of their employee’s pay — up from $7,000 in previous years.”
Oops. Didn’t read that far. Haven’t gotten that notice from the State yet.
Just another example of government being the problem, when it thinks it's the solution.
Check out what they’ve done to license fees, tag fees, etc. All have more than doubled.
Click the above link for a striking youtube that graphically plots over time this recession, starting in 2007 thru today.