22 Nov 09 How about a 1200% tax increase? Thanks to Charlie & Alex…
Governor Charlie Christ and his “Heir Apparent” Alex Sink had up til now hidden their 1200 percent tax increase well; but this week the covers have come off and small & large business owners alike are shuddering with financial fear!
This is a repost from the AP:
TALLAHASSEE – (AP) — Unemployment compensation taxes paid by Florida businesses will skyrocket next year due to the state’s high jobless rate — 11 percent in September.
The minimum tax will jump from $8.40 per employee to $100.30 — an almost 12-fold increase — in 2010, state Department of Revenue officials said Wednesday.
The maximum will go up from $378 per employee to $459.
Another factor contributing to the increases is that taxable wages are going up from $7,000 to $8,500 per employee.
The increases are needed to replenish the state’s Unemployment Compensation Trust Fund. It dropped from more than $1.3 billion last year to zero in August. Florida then began borrowing $300 million a month from the federal government to pay benefits.
For the small business man this is almost a direct order to layoff workers on the “Borderline”, and not to any more FTE’s (full time equivalent).
It seems State Government is now drinking the same Kool-Aid the Obama Camp serves…
You cannot tax and spend you way to vitality. Throw them all out…
Like reading this post? Buy me a cup of coffee :)Tags: 1200% tax increase, Florida unemployment tax, Obama, taxes
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The Bush approach to cutting taxes and spending money that does not exist meant that the Fed had to print more money. Remember, all printed money represents a debt. It’s not actually backed by anything except debt. So, every time you hold a dollar in your hand, that’s a debt, and it also has interest attached to it. Thus, by lowering taxes (revenue) and raising the debt, you’ve created an imbalance in the foundation structure of the debt economy. In a nutshell, it makes printed money more scarce. And, that’s a problem when trying to get an economy moving. Paper money needs to be moving. And, it is not. That’s why they keep adding $ into the population, via banks and gov assistance. Not doing so would bring in even more scarcity of printed money. And, no one knows what will occur if it gets too low, but they do know that a massive collapse of banks will occur. If that happens, money gets even MORE scare.
It’s literally THAT simple. So, is that what you want?
This may be one of the most “disconnected” comments I have ever read (or approved). WTF does Bush have to do with Florida’s unemployment tax and the clandestine manner in which it’s raise was planned and effected?
It is amazing that someone wrote this in response to the post above. I’m sorry if you (the comment maker) reads this but “C’mon Man”…