The State of Vermont, proudly flexing its economic muscles, has started billing employers $21 per employee to cover the shortfall in the state’s unemployment fund first incurred back in 2010 – and the state still hasn’t paid back the federal funds on yet. But hey, the unemployment rate is 5.1%, so why would we need much of an unemployment fund, anyway? Perhaps for politicians who lost re-elections?
But don’t worry, Vermont businesses. We know you’re in a recession. We’re doing this for your own good, just like Shumlin said back in 2010 (courtesy of WCAX):
“There is going to be some pain for everybody; not everybody is going to like the solution,” Shumlin said in May 2010.
Well, by “pain for everybody”, he meant Vermonters who work for a living, not him, personally. Thanks Pete!
The state estimates there are 304,000 workers, so the tax adds up to about $6.4 million.
In other words, we have a $6.4 million dollar hole in our budget that our Federal overlords now demand compensation for. The state is taking $6.4 million out of the economy today to pay for expenses that accrued three years ago, which might strike the uninitiated as piss-poor financial planning. But when WCAX tried to contact the governor on his tax-raising policy on employment, during a recession, he was unavailable:
We wanted to talk to Shumlin, but were told he was unavailable because he was traveling for the inauguration.
Perhaps Shumlin is on a groveling tour in DC, begging loan forgiveness? At least that might provide relief for Vermonters in one way: Shumlin’s out of state. Less capable of doing more damage here. But I’m glad to know that Peter’s Groveling Tour 2013 doesn’t allow for a half-hour phone call while he’s basking in the much larger glory of an entity that puts his underfunded spending to shame – the USG.
But $6.4 million, well, in national terms, can only be described as one thing to politicians. It’s something else entirely for those footing the bill.
The net result is that those who actually employ Vermonters, a dying breed here, will be forced to cough up what Peter couldn’t be bothered to budget for. And can’t be bothered to even answer for while he’s busy worshipping at the Federal altar.