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Thanks for the higher taxes, Mitch!

May 17, 2009

I am admittedly behind on current events lately. I’ve been…distracted. Lets just say that.

But I did read today that the governor of Indiana, Mitch Daniels, just signed a bill that will raise the unemployment tax on employers. (h/t Hoosier Access)

I was not aware of this, but apparently the unemployment benefits system in this state is bankrupt, and they’re looking for a way to ‘fix’ it. Their solution was to raise taxes and do nothing about the level of benefits actually being paid out.

And it’s funny, in an ironic sort of way, that businesses having to pay higher unemployment taxes could actually force them to fire more people. Thus more people will be out of a job, hungry for some unemployment benefits. And because the state decided to leave the level of benefits unchanged, will this new tax on businesses actually end up costing the state MORE money as more people are laid off?

And did anyone even ASK that question? Or did they just see an opportunity to raise taxes and ran with it? That seems to be the trend these days.

This might be a good time for me to consider running for public office. I think I might be smarter than 99% of the people we have occupying them now.

~T the D

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2 Comments leave one →
  1. Anonymous permalink
    May 24, 2009 4:36 am

    Apriori it WILL mean higher unemployment and clearly so, just so long as the general truths behind the supply and demand curves ring true. And they do. So its a vicious circle.

    GMB.

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