If only it were just an earthquake. We could
then just repair some damaged roadways or condemn a couple dozen buildings,
then resume our lives. Maybe the Bay Bridge would need a section
reattached. Or the last letter "D" in Hollywood would tip
over. We'd send over some lumber reinforcements. No
problem. This tragedy, however, has no asphalt-rending fault lines,
except the ones in government, where the fault lies.
I would like to direct your attention to something boring
but infinitely informative regarding the nature of this mismanaged
state. Employers who utilize labor pay into the FUTA, or the federal
unemployment tax, at a rate of 6% and are credited back an offset of 5.4% that
they previously paid the state, leaving a small federal liability of only
0.6%.
However, if the
state-run U.I. trust gets overdrawn, as it did in California for going on its
third year now, it automatically pulls an emergency loan out from the federal
government to service the underfunded account. And if that is not
repaid by November 10, and it defaults, then the government forces
employers to pay it.
They just defaulted. Our company received a mystery bill in the mail two weeks ago,
explaining our new $15,000 owed. We got a shock, as it was not
expected. I presume that many employers won't be able to pay
it. I'm still not quite sure if we can ourselves, considering how
much the minimum wage hikes, the new mandatory paid sick leave, and Obamacare
have impaired our cash reserves.
To appreciate what is going on here in the lousy 14K Golden
Alloy State, we need to connect a few moving pieces that the media won't report
on, but I'm here to help. First, why is U.I. getting robbed when the
BLS has said this is such a great jobs economic recovery? California,
one of the most populous states, has a 6.3% U.R. The national
average for the rest of the country is 4.7%. Ignore that both
numbers are a lie and shadow stats have them both well north of that, but why
is California's percentage higher?
California is a sanctuary state, a rogue state, mining
votes openly from the southern border in exchange for welfare benefits but also
for under-the-table Home Depot cash jobs. It is indeed a
"depot" station, but not one visa overstay violator will ever be
depot'ed here or asked for authenticating ID. ICE officers in the
state have probably never walked onto a hardware store parking lot looking for
violators – and why would they? To be harassed by Jerry Brown's free
legal advice now given to illegal aliens, paid for by the taxpayer?
California's U.I. trust is being kneecapped because of
arms-wide-open amnesty that is removing jobs from those born here, and thus
sending the U.I. rate ever higher. And the employer is the fall guy
politicians will use to force you to buy votes for them. Isn't
helping a Democrat hold on to power using your taxes great?
I've been telling women upset with mandatory vaccinations
the same thing for years. Politicians are inviting hordes of
illegals, unvetted, infected with TB, and, like A Clockwork Orange,
you, civilian, must sit in that chair squirming, getting the needles placed
under your skin, because don't you realize how important it is to get Democrats
elected. So sit in the chair and take it. Jerry Brown has
important things to get done that don't involve you. Never
have.
And so, with record-low interest rates now going on our
ninth year and federal debt that could reach Saturn's rings and back, the real
fault lines will be seen first emerging in the states, since they can't print
their own money, unlike the feds.
California is the first one to emerge with fiscal cracks
invading the farcical narratives of Hopeychangey Land. It won't be
the San Andreas that swallows us whole, or causes us to drift off the coast. It
will be more and more little things like an employer tearing open a tax bill
and seeing an entirely new line item that never existed before. And
the business asking why they continue to remain behind the Democratic Party's cocky
supermajority iron curtain. And, as the seismic plates shift in
their mind as they ask that question and it later moves under their feet,
mobilizing them, then a Randian exodus out to healthier, less shaky, more
stable state economies, where businesses will be respected, maybe even wanted,
and not used like a kicked vending machine for extra change in the coin slot
every time they run out of other people's money to buy votes from
border-crashers.
I am sure that some businesses will stay waiting for the
Big One. Then perhaps FEMA can step in and slap all of its fresh
printed digital mint across the barren land in an equal exchange of debt for
debt. Problem solved.
Read more: http://www.americanthinker.com/articles/2017/01/the_great_california_earthquake_of_2018_first_state_to_default.html#ixzz4VI4wVZT8
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http://www.americanthinker.com/articles/2017/01/the_great_california_earthquake_of_2018_first_state_to_default.html
Follow us: @AmericanThinker on Twitter | AmericanThinker on Facebook
