MORE LOSSES to SS/Medicare Revenue from unemployment....

Discussion in 'Politics' started by healthmyths, Nov 16, 2012.

  1. healthmyths

    healthmyths Gold Member Supporting Member

    Sep 19, 2011
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    I am sure millions of Americans have NO idea that when a person is laid off there is a tax revenue LOSS MORE then withholding taxes.
    Every employer pays MORE in Social Security (SS) and Medicare then the employee and employers and employees payments make up 35.5% of Federal revenue.

    For example with Hostess going out of business; nearly 18,000 employees are to be laid off.
    Hostess going out of business; nearly 18,000 to be laid off - Dallas News |

    Let's assume the average wage of $30,000 a year this would be the break down:

    Employee pays 4.2% for Social Security and 1.45% for Medicare or total $1,695

    Employer pays 6.2% for SS and 1.45% for Medicare or a total of $2,295.00

    Total paid : $3,990 times 18,000 equals $71.8 million a year- or for 99 weeks equal to unemployment - $136 million.
    NOW these employees will be eligible for unemployment at $300/week for 99 weeks or total of $534 million.

    So the Federal government with JUST this ONE company layoff for 99 weeks will have over $671 million in revenue loss and costs!

    In summary Obama/Obamacare and Obama's continued obvious efforts to put Americans OUT of Work and on Unemployment and food stamps will eventually put America out of Business!
    When employers lay off people IT costs the Federal government.

    OH and by the way every time someone becomes "unemployed"?? NO MORE SS/Medicare payments from employee and employer!

    In 2011 this was the Total Federal Revenues and sources:REPEAT this is total Revenue sources for Federal Government!!!
    • Personal income tax (billions) $1,015 [47.4%] (people that work for companies that work for profits primarily.)
    • Social security/Medicare tax $818 [35.5%] ( employer pays Half of total paid-- where will that come from???)
    • Corporate income tax $181 [ 7.8%] (corporate evil profits generate taxes - then dividends taxed again!)
    • Customs,Duties, Misc. $131 [ 5.7%]
    • Excise taxes $72 [ 3.1%]
    • Estate & Gift $7 [ 0.4%]
    Total: $2,302 [100%]

    Federal Revenues by Source

    And when people become UNEMPLOYED.. Social Security/Medicare Payments are reduced and they contribute 35.5% to Federal Revenue!!!

    Now add in Texas Instruments laying off 1,500 and these companies that are laying off due to Obamacare... MORE Federal Revenue LOSSES coming!!!

    Companies that plan massive layoffs as Obamacare becomes reality
    Welch Allyn, a company that manufactures medical diagnostic equipment in central New York, announced in September that they would be laying off 275 employees,
    A short list of other companies facing future layoffs at the hands of Obamacare:
    Smith & Nephew - 770 layoffs
    Abbott Labs - 700 layoffs
    Covidien - 595 layoffs
    Kinetic Concepts - 427 layoffs
    St. Jude Medical - 300 layoffs
    Hill Rom - 200 layoffs
    Dana Holding Corp. "$24 million over the next six years in additional U.S. health care expenses".
    Stryker One of the biggest medical device manufacturers in the world, Stryker will close their facility in Orchard Park, New York, eliminating 96 jobs in December. Worse, they plan on countering the medical device tax in Obamacare by slashing 5% of their global workforce - an estimated 1,170 positions.

    Boston Scientific
    In October of 2009, Boston Scientific CEO Ray Elliott, warned that proposed taxes in the health care reform bill could "lead to significant job losses" for his company. Nearly two years later, Elliott announced that the company would be cutting anywhere between 1,200 and 1,400 jobs,

    In March of 2010, medical device maker Medtronic warned that Obamacare taxes could result in a reduction of precisely 1,000 jobs.

    It also means a near immediate impact on the economy. With 20 or so new or higher taxes set to be implemented, ranging from a $123 billion surtax on investment income, through the $20 billion medical device tax, all the way down to the $600 million executive compensation limit, Obamacare will be a nearly unbearable tax burden on the economy.

    PICKET: Companies plan massive layoffs as Obamacare becomes reality - Washington Times

    So YOU folks that voted for Obama... the above is the results of your ignorance!!!
    Last edited: Nov 16, 2012

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