High unemployment depletes fund ( Employers Tax will go from $8 to $100 per employee)

[megimoo]

High unemployment depletes fund (Tax on Employers will go from $8 to $100 per employee)

TAMPA - Business owners in Florida are about to get hit with a big tax hike: starting January 1st, all Florida businesses will have to pay skyrocketing unemployment compensation taxes to replenish the unemployment compensation trust fund.

Some employers will see increases equaling 12 times what they're paying now.

"Florida pays its unemployment benefits through its unemployment compensation trust fund and that trust fund, because of high unemployment rates recently, has been depleted," said The Florida Department of Revenue's Robert Babin.

The unemployment rate in Florida is a staggering 11 percent.

The tax increase is so much that many small business owners fear they could be put out of business completely. Jack Joyner, owner of Jack Joyner Heating and Air Conditioning in Clearwater, says his business will make it, but he's concerned.

"I don't know what's going to happen tomorrow. My banker can't tell us what they believe is going to happen tomorrow," said Joyner, who been in the business 54 years.

http://www.myfoxtampabay.com/dpp/news/state/1118-unemployment-tax

[patriot45]

High unemployment depletes fund (Tax on Employers will go from $8 to $100 per employee)

TAMPA - Business owners in Florida are about to get hit with a big tax hike: starting January 1st, all Florida businesses will have to pay skyrocketing unemployment compensation taxes to replenish the unemployment compensation trust fund.

Some employers will see increases equaling 12 times what they're paying now.

"Florida pays its unemployment benefits through its unemployment compensation trust fund and that trust fund, because of high unemployment rates recently, has been depleted," said The Florida Department of Revenue's Robert Babin.

The unemployment rate in Florida is a staggering 11 percent.

The tax increase is so much that many small business owners fear they could be put out of business completely. Jack Joyner, owner of Jack Joyner Heating and Air Conditioning in Clearwater, says his business will make it, but he's concerned.

"I don't know what's going to happen tomorrow. My banker can't tell us what they believe is going to happen tomorrow," said Joyner, who been in the business 54 years.

http://www.myfoxtampabay.com/dpp/news/state/1118-unemployment-tax


Well isn't that special.:mad: I just started to get busy after the worst year ever. I just hired 2 new guys and this will kill me! I still have to bid jobs as low as possible, no way I will have the bucks to send more to the gov! I want the Fairtax!

[Last Samurai]

Ah, there you have it! You want the Fair Tax. I want the Fair Tax. There are even a couple of Congresscritters that support the Fair Tax.

Are we ever going to get the "Fair Tax"? Nevah happen, GI. It would stop dead in it's tracks the Congress' power to "play with", pervert to their own purposes, give special incentives, tax breaks and hidden bribes and generally use the Tax Code to their advantage as they deem fit.

Which is why the proponents of the "Fair Tax" can lay claim and use that particular name for their legislative effort. Certainly the current Tax Code, as annotated, spindled, folded and twisted can in no way be deemed "FAIR"!

The only segment of the population that even might consider it "Fair", as it stands, are the recipients of Government Largesse, for which they pay no Income Taxes into the funding thereof (39% of all filers paid no income tax.... '06 IRS figures) and thereby have no dog in the race (as far as I am concerned) as to how that tax money is "used".

I suggest that the "I'm gonna get me some of dat!" attitude, without putting forth the effort to earn it, is certainly not fair to the Nations Productive Citizens who provide Tax funding in copious amounts, to the Nation's unproductive. ("Moochers" if you will.)

That is certainly NOT my definition of FAIR!

LS

[Big Guy]

This is exactly why I will not hire any help for my 2nd job, I might hire one as a contractor when it gets too busy.

I have been contiplating starting a consulting buisness, but I am not sure I want to go down that road right now. These friggin Demoncrats are stealing the money I have been bustin my ass for and giving it to the shiftless leaches that won't take care of themself.