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Tuesday, September 22, 2009

Hawaii Businesses to be Hit With Soaring Unemployment Tax

From a Honolulu Advertiser article on September 18th:

"Hawai'i's employers will face a stunning jump in unemployment taxes next year, with the average amount paid per employee increasing to at least $1,040 annually from the $90 paid now. The state said the dramatic rise in rates will take effect in April and comes as Hawai'i's unemployment trust fund plunges toward insolvency. The state has been paying out more in jobless benefits than it collects in unemployment taxes because of the slumping economy and jump in unemployment."

Small business gets it again. This is one of the reasons why Hawaii is known as a "business unfriendly" state. This can be validated by an article on today's Pacific Business News website. The article states:

"Hawaii’s business tax climate slipped from last year, according to a Washington, D.C.-based tax research group. The Aloha State is near the middle when it comes to business climates, ranking 24th in the nation, down from 22nd last year."

It is simply not fair to keep laying it on small businesses. We are having a tough enough time keeping our doors open. Small business is the backbone of the American economy. Let's help them for once. Let's help bail out small businesses, who struggle on a daily basis. We don't have private jets and multi-million dollar salaries. We work hard in our respective businesses and try to hang on to our employees. Stop the assault on small business. Please!!

1 comment:

  1. what a crock.

    Small business is no backbone if what you are suggesting is exempt small businesses from covering their employees with unemployment insurance. Or to not have them pay for the coverage.

    Just who do you expect to pay the bill instead? Some other guy behind a tree? Classic "tax anybody but me" BS.

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