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| Name: |
MartiniMan
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| Subject: |
Layoffs are accelerating
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Date:
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11/9/2012 1:06:31 PM
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all across the country because businesses now understand that Obamacare is not going away any time soon. Folks, elections have consequences and the newly unemployed are bearing the brunt. Some strategies in play:
1. Small businesses are laying off to get below 50 full time employees. They will meet their additional business needs with part time labor (less than 30 hours per week) to avoid health care costs.
2. Medium to large businesses that do not directly rely on people for revenue (i.e., other than service firms that bill brainpower by the hour) are dumping large numbers of employees to cover the additional cost of Obamacare, taxes, energy and regulations.
As for my company, we are using our available flex staff rather than adding full time. They get no benefits at all and can only work up to 1,000 hours per year. Those people have to hold two or three jobs in order to make a living. Of course they get killed by FICA because every one of the employers have to take out FICA up to the max. A highly compensated employee might hit the max in the fall with one job and no longer pay FICA but not at all with two or three jobs and end up paying way more than they should.
I have been very clear with our employees that given the 27% increase in health insurance premiums we have to look closely at every person we hire and ask the question, "Can we do this with a temp?" If the answer is yes then its a no go on the hire.
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| Name: |
GoneFishin
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| Subject: |
Layoffs are accelerating
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Date:
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11/9/2012 2:58:44 PM
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"A highly compensated employee might hit the max in the fall with one job and no longer pay FICA but not at all with two or three jobs and end up paying way more than they should."
Anyone who meets the FICA max can request an employer to cease deducting FICA taxes. If they prefer not to have the second employer know they have reached the maximum, they simply file for a refund for the excess when they file their income tax.
I would suggest the issue is NOT with the individual, but rather the employer. Since each employer has paid the matching amount and the individual is entitled to a refund for the excess, I assme the combined total matching from the 2 employers remains in the trust fund.
Ask your accountant since you will be using highly compensated temps who may well work multiple jobs earning well over the FICA max.
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| Name: |
MrHodja
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| Subject: |
Layoffs are accelerating
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Date:
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11/9/2012 3:41:27 PM
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Hey GF, wanna partner with me in my scam? Set up a health insurance company that charges about $50 per month and issue policies with deductibles in the hundreds of millions of dollars (or more) and copays in the hundreds of thousands. If anyone ever reaches either we just declare bankruptcy. Meanwhile our proceeds are safely tucked away on some isolated Carribbean Island.
Okay, I'll remove mey tongue from my cheek....but it won't surprise me to see someone pull something like that.
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| Name: |
GoneFishin
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| Subject: |
Layoffs are accelerating
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Date:
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11/9/2012 7:47:19 PM
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A partnership wth you sounds rather exciting. I already have my gov't issued phone to handle the marketing. I will continue with my entitlements so I have income to carry me through the first few years as we build the scam. We need to consider WIX since he has a real insight into the southern white male which will be one of our target markets. Based on demograpic studies, those like WIX will buy insurance scams that look too good to be true. My wife is even supporting the venture as she always wanted to move to a warm offshore island.
Our mission statement To scam or Not to scam, That is the question. People like WIX and Martini will fall for it and we can then take our scam nationally. High deducible, low premium, no coverage!!!!!!!!!!!!
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| Name: |
wix
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| Subject: |
Goofy, as marketing director
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Date:
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11/10/2012 8:35:24 AM
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I'd think you'd be smart enough to target those incapable of reading---your democrat friends.
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| Name: |
MartiniMan
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| Subject: |
The issue is with the individual
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Date:
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11/10/2012 8:51:44 AM (updated 11/10/2012 8:53:33 AM)
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Because they will have overpaid FICA and not have that income available to them until they file their tax return and get the refund.
But this is just one inconvenience that will negatively impact the economy but by no means the relevant issue....because the war on business and the productive class continues the working poor and middle class will bear the brunt of the tax increases, unemployment, lack of health insurance and other benefits.
But leave it to GF to focus on the irrelevant.........thanks for the tax advice anyway, I am sure it will mean a lot to the millions of Americans that will lose their jobs and/or employee benefits, have to work multiple part time jobs because full time positions will become rare and will not have access to health insurance. But Obamacare will take care of them for free, right? Rrriiiiggghhhhtttt.
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