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View Diary: North Carolina Republicans move to slash unemployment benefits (51 comments)

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  •  The state dug it's own hole (1+ / 0-)
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    Mr Robert

    The UI trust fund looked great in the 90's with money from employers flowing in and low unemployment rates keeping that money in the bank.

    So businesses pressured the legislature to cut the UI tax and stop saving for a rainy day - and they did so, more than once.

    The rainy day came in the form of the Great Recession, the UI trust fund got wiped out, and businesses whined that it was a terrible time to raise UI taxes to replenish the UI fund. After all, there's never a good time to raise taxes on businesses - just ask them.

    Filibuster reform now. No more Gentleman's agreements.

    by bear83 on Thu Jan 10, 2013 at 06:38:44 PM PST

    [ Parent ]

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