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Steve, you have never been an employer. So obviously you do not know where the money come from. Without employees there won't be any profit for the employer and no unemployment insurance premium to be paid. Therefore, the employees are the one paying for the unemployment insurance premium. Some employee work throughout their life (for 30 to 40 yrs) and never collected UI. For some reason, the government screwed this economy so bad and without the fault of the worker who got unemployed. Congress is now trying to dangle a lifeline for families who got laid-off playing the lifes by partisanship between the rep and the demo.. Does this explain to you enough or do you need more?
Only the first 26 weeks of unemployment (regular benefits) and 50% of EB (up to 20 weeks) are paid from a state's unemployment insurance fund.
100% of the following unemployment benefits are paid by the federal government:
• Four EUC Tiers (up to 53 weeks)
• EB (up to 20 weeks); since February 2009 through March 2010, the federal government has assumed the full funding for EB, relieving states from having to pay 50% of the cost of EB during this period
• FAC ($25 per week for the full length of unemployment payments); from February 2009 through October 2, 2010.
This is why the source of this funding for future benefits is under scrutiny by the public and being debated by Congress.
Only the first 26 weeks of unemployment (regular benefits) and 50% of EB (up to 20 weeks) are paid from a state's unemployment insurance fund.
100% of the following unemployment benefits are paid by the federal government:
• Four EUC Tiers (up to 53 weeks)
• EB (up to 20 weeks); since February 2009 through March 2010, the federal government has assumed the full funding for EB, relieving states from having to pay 50% of the cost of EB during this period
• FAC ($25 per week for the full length of unemployment payments); from February 2009 through October 2, 2010.
This is why the source of this funding for future benefits is under scrutiny by the public and being debated by Congress.
I thought some states EB is now 100% federally funded due to the states running out of cash. Sorry my bad, re-read what you wrote.
Last edited by Karl Indiana; 04-13-2010 at 09:09 PM..
I thought some states EB is now 100% federally funded due to the states running out of cash. Sorry my bad, re-read what you wrote.
The 100% federal funding of EB expired on March 31, 2010; at that time, EB funding reverted to 50% state/50% federal in the states that still offer EB.
Extension of the 100% federal funding for EB is included among the unemployment benefits that would be covered by the 30-day (HR 4851) and year-end (HR 4213) extensions pending in Congress.
Unemployment extensions aren't what's needed. The government is running out of money. This is like an individual buying food and paying utility bills with credit cards and running up big debt with nothing to show for it.
It's interesting how so many of you will demand more free money but never demand they create those 5 million new jobs they promised to create. Why do you believe government is so magical that it can create all this big wealth to dole out but can't create jobs? Well -- of course the government cannot create jobs so much of the problem are the politicians who promise that but the government could stop negotiating our jobs away and stop interfering with job creation.
The government will find that "magical" money somewhere, it will be in either unemployment benefits or welfare. They end up costing about the same when the welfare system pays cash benefits and medicaid. If an unemployed worker has three kids and a wife who is also unemployed, now you have five people on medicaid, and those five people are not in the medicaid budget right now. Already,the 400,000 who lost benefits when Congress didn't extend the deadline have signed up and started to receive welfare benefits. As you can see it's a vicious cycle and the best of the two evils right now is unemployment benefits. A JOB WOULD BE NICE.
And 2000 media sources on twitter, I am going to be busy today.
Paladinette
(logged-in user) March 21, 2010, 2:43am (report abuse) The daily TWEET:
Washington indifference CHANGEs long term Unemployed from Jobless to Homeless $5 Trillion for Ungrateful Banks; No Help for Bank Victims/Long Term Unemployed (http://tinyurl.com/yfpqk7d - broken link)
Going to sound ignorant here...with the talk of tier this tier that...since I've NEVER collected unemployment (one time ) over 50 yrs ago.
WHO pays all this tier money...from whose bank account?
I cannot believe the Govmt is forking out all that dough from the treasury.
From our bank accounts or that of many future generations. What people don't get is that the free money comes from somewhere.
No one was taxed as an employee to pay them $300 a week or more indefinitely to not work. The checks obviously don't come from some account that was created for the now laid off employee, and if the employer is out of business, then the employer is not paying for it's former employees.
It's unreasonable to expect this can go on indefinitely. At some point the national debt becomes too high, we won't even make the interest payments on it.
From our bank accounts or that of many future generations. What people don't get is that the free money comes from somewhere.
No one was taxed as an employee to pay them $300 a week or more indefinitely to not work. The checks obviously don't come from some account that was created for the now laid off employee, and if the employer is out of business, then the employer is not paying for it's former employees.
It's unreasonable to expect this can go on indefinitely. At some point the national debt becomes too high, we won't even make the interest payments on it.
Well your going to pay it in unemployment or welfare, pick your poison. So when all the unemployed are cut off they are going to sign up for welfare and thats going to cost even more.
Well your going to pay it in unemployment or welfare, pick your poison. So when all the unemployed are cut off they are going to sign up for welfare and thats going to cost even more.
Yes they will - and how long will that be sustainable?
It'd be fine if things could go that way indefinitely. Wouldn't it be great if we could all stop working and be supported somehow forever? The problem is - how long can that go on?
That's why some of us would like to see tax cuts and a way for small businesses to thrive again, we would prefer to see job creation. Or tax the imports to pay for the unemployed to live as they wish to live.
Well your going to pay it in unemployment or welfare, pick your poison. So when all the unemployed are cut off they are going to sign up for welfare and thats going to cost even more.
It could very well be a Tier 5:
Senate Democrats are reportedly working on a jobs bill that would include both an extension of the eligibility cut-off dates -- and add at least 13 weeks of additional coverage for those unemployed whose benefits had already expired.
Senate staffers have said that the plan would be to get something passed in this session -- which ends in six weeks or so. If it isn't done by then, they believe that Congress will be reluctant to pursue an expensive jobs bill so close to the election.
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