Do you think we should eliminate Unemployment Insurance?

Question

I wonder what % tax is payed

Answer 1

No, I think it should be FBI investigated when someone applies, same as Welfare, and Workman Comp.

Answer 2

No, one may hear a lot about how expensive the tax is, when in fact it is rather low--- IF a employer does not have a lot of turn over(claims). And consider the fact that there is a low yearly threshold on each employee at which the employer no longer has to pay anymore unemployment tax on that employee for the year. The federal cost is about 6.2 % for the first $7000 of each employees' wages and is offset by the amount paid on time to the state up to 5.4%. The state cost of a employer without any claims or very few claims will pay about 0.1-0.3 % of each employee salary ending on each employee at a annual rate of around $10,000 of wages. So basically there is no extra cost after the employee is paid $10,000(in some states it is less).
Unemployment Insurance provides a very small short time safety net for employees that lose employment without fault of their own and the period until they find another position. Most working individuals are only a few paychecks away from bankruptcy, if they lost their jobs. Unemployment insurance benefit not only the employee, but the stablity of our economy.
Can you image the deep swings in purchases and credit buying if there was nothing. Used auto sales and previous owned home sales would be unstable for example, based upon the unemployment rate.

Answer 3

Never...it is an insurance for when an employee is out of work...though I have never collected it...but would like to know if I need it that I will be able to collect it..

In Canada it is paid between the employer and the employee and it is rated depending on what your deduction rate is...number of dependents...amount of pay

Answer 4

Yes sure and let unemployed ppl starve no way.