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Politics : Mainstream Politics and Economics

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To: i-node who wrote (38989)	2/13/2013 1:06:16 AM
From: Wharf Rat	Read Replies (1) of 85487

Was that woman wearing a Walmart uniform? 80 % of their employees need food stamps to get by. Maybe we should add a few bucks to Obama's minimum wage proposal. Middle class doesn't pay for unemployment; big boss man does. In the United States, unemployment insurance is based on a dual program of federal and state statutes. The program was established by the federal Social Security Act in 1935. Much of the federal program is implemented through the Federal Unemployment Tax Act. Each state administers a separate unemployment insurance program, which must be approved by the Secretary of Labor, based on federal standards. The state programs are applicable to areas normally regulated by laws of the U.S, but there are special federal rules for nonprofit organizations and governmental entities. A combination of federal and state law determine which employees are eligible for compensation, the amount they receive, and the period of time benefits are paid. To support the unemployment compensation systems, a combination of federal and state taxes are levied upon employers. States base employer contributions on the amount of wages the employer has paid, the amount the employer havs contributed to the unemployment fund, and the amount that the discharged employees have been compensated from the fund. Any state tax imposed on employers (and certain credits on that tax) may be credited against the federal tax. The proceeds from the unemployment taxes are deposited in an Unemployment Trust Fund (the Fund). Each state has a separate account in the Fund to which deposits are made. Within the fund are separate accounts for state administrative costs and extended unemployment compensation. During economic recessions, the federal government has provided emergency assistance to allow states to extend the time for which individuals can receive benefits. This is accomplished through a temporary law authorizing the transfer of money to a state from its Extended Unemployment Account. The ability of a state to tap into this emergency system is usually dependent on the employment rate reaching a designated percentage within the state or the nation. law.cornell.edu

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