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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: MJ who wrote (98855)1/25/2011 3:01:53 PM
From: Hope Praytochange1 Recommendation   of 224748
 
Seattle, Wa. During the worst of the Great Recession, after laying off four of 13 employees, Judy Coovert saw her Burien company PrintCom annual tax rate for unemployment insurance jump more than 230 percent. Under the state's unemployment-insurance formula, companies pay higher taxes if anytime in the previous four years they laid off employees who then received unemployment benefits. And all employers, regardless of whether they let go workers, pay a "social cost" tax to cover the workers of businesses that have closed. The depth and breadth of the Great Recession have meant all employers are being hammered by increases in the social-cost tax. Printcom, for example, has seen its rise 316 percent over the past two years to just over 2 percent of payroll. Then on Feb. 8 scheduled average 36 percent rate hike in unemployment tax is scheduled to take effect. This left Judy Coovert with no option but to layoff 1 more full time employee and cut a second to half time. Some law makers want to cut these taxes saying the state can afford to do this because it has one of the nation's richest unemployment-insurance trust funds but there is a lot of opposition to the idea. Meanwhile many small business are continuing to cut workers to pay higher taxes.
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