Toronado3800
Gold Member
- Nov 15, 2009
- 7,608
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After a conversation with some of my young friends I must understand this completely before I choose to berate them. Please explain how I am incorrect or only partly understanding the system.
It is my understanding the Federal Government more or less charges $56 per employee per year for their portion of unemployment benefits.
I believe all the state systems to vary but it true on average they charge ABOUT 3% of the first $7,000 an employee earns or $210 per year. The employer (company) pays this amount. My boss must figure it into the cost of having an employee as he is effectively forced to by the state for my benefit as an employee.
There is a movement to more or less double the earning limit to the first $15,000 an employee makes but that is not active yet.
So after 20 years of working earning more than $7,000 per year the average company (me if you prefer to think of it that way as a potential amount of money we could have earned) has paid $56*20=$1,120 in Federal taxes and $210*20=$4200 in state taxes.
With a further SOOOO... they have 'earned' $5320 in benefits?
Also, when an employee is collecting benefits does that money come from largely the state fund then the federal fund or is there an additional charge the company who fired the employee pays during the benefit time? (This goes towards the folks who think they are staying unemployed to "get back" at their old boss)
Thanks in advance
It is my understanding the Federal Government more or less charges $56 per employee per year for their portion of unemployment benefits.
I believe all the state systems to vary but it true on average they charge ABOUT 3% of the first $7,000 an employee earns or $210 per year. The employer (company) pays this amount. My boss must figure it into the cost of having an employee as he is effectively forced to by the state for my benefit as an employee.
There is a movement to more or less double the earning limit to the first $15,000 an employee makes but that is not active yet.
So after 20 years of working earning more than $7,000 per year the average company (me if you prefer to think of it that way as a potential amount of money we could have earned) has paid $56*20=$1,120 in Federal taxes and $210*20=$4200 in state taxes.
With a further SOOOO... they have 'earned' $5320 in benefits?
Also, when an employee is collecting benefits does that money come from largely the state fund then the federal fund or is there an additional charge the company who fired the employee pays during the benefit time? (This goes towards the folks who think they are staying unemployed to "get back" at their old boss)
Thanks in advance