Monday, May 18, 2009

Higher Taxes to fix Indiana's busted unemployment system

With the Hoosier State being forced to borrow money from the federal government to make unemployment insurance benefit payments to the state's jobless, the state legislature has decided to increase the taxes it charges to employers in order to fund the system.

According to the Courier Press the

Currently, employers pay between 1.1 percent and 5.6 percent on the first $7,000 a worker earns, or between $77 and $392 per year.

In 2010, that will increase to between 0.7 percent and 9.5 percent on a wage base of $9,500. That's between $66.50 and $902.50.

Then in 2011, that again jumps to between 0.75 percent and 10.2 percent on the first $9,500, leaving the final range between $71.25 and $969 each year

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