petroglyph
petroglyph
Joined: Jan 3, 2013
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May 4th, 2020 at 3:49:44 PM permalink
Quote: billryan

Unemployment benefits come from a fund employers pay. Employees don't pay into it.

Years ago, labor, in lieu of pay raises agreed with employers to accept UI insurance instead of raises.

If that employee doesn't work, that employer doesn't just pay into the UI fund, think about it. If you sell a car, do you continue to pay road hazard on it?

Likewise, self employed, if incorporated can pay in on themselves and collect, unless the rules changed. Since a corporation is now people, it's like working for an employer, that wants to guarantee it's employee's [us] don't starve in between gigs.
petroglyph
petroglyph
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May 4th, 2020 at 3:54:34 PM permalink
Quote: billryan

U.I. is based on your company's history. If you normally lay off a good part of your staff, you pay more. I'm not sure what they will do now with everyone laid off.

Sure, the rate is determined by the typical amount that lay off's occur in your industry. And of course there is abuse, but screwing your insurance company is a crime, do what you will, and you do get a history with the UI people. They watch.

When I contracted, I not only paid in myself, but collected in between projects. But when I had up to 14 employees I paid on every one of them including on myself, so that was deducted from what profit I would have made.
darkoz
darkoz
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May 4th, 2020 at 3:57:56 PM permalink
Quote: petroglyph

Years ago, labor, in lieu of pay raises agreed with employers to accept UI insurance instead of raises.

If that employee doesn't work, that employer doesn't just pay into the UI fund, think about it. If you sell a car, do you continue to pay road hazard on it?

Likewise, self employed, if incorporated can pay in on themselves and collect, unless the rules changed. Since a corporation is now people, it's like working for an employer, that wants to guarantee it's employee's [us] don't starve in between gigs.



My old employer always tried to get people to quit by making life hard rather than outright fire them.

He told me the employer pays half the unemployment given to the fired worker although there were some gross negligence reasons why an employer could get exemption (severe no show at work, stuff like that)

It's an insurance fund. Think of it like deductibles. The insurance doesn't cover fully. Only thing is the person unemployed doesn't have income so he isn't the one who has to pay it's the employer
For Whom the bus tolls; The bus tolls for thee
Keyser
Keyser
Joined: Apr 16, 2010
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May 4th, 2020 at 3:58:43 PM permalink
Quote: billryan

Quote: billryan
Unemployment benefits come from a fund employers pay. Employees don't pay into it.



This line of thinking is scary. FYI, employees pay into it indirectly in the form of a lower initial wage.

FYI... Money doesn't magically come from no where. Believe it or not, employers can eventually run out of it too. Even Mc Donalds.
petroglyph
petroglyph
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May 4th, 2020 at 4:05:29 PM permalink
Quote: AlanMendelson

I'd really like to see some facts and not conjecture about operating costs.

The only fact I've seen so far came in a,statement from MGM which was that they lose money if half the rooms in a hotel aren't booked. That's the only fact or statement about operating costs that I've seen.

If anyone has any true figures please share them.

I don't know how many players are needed to keep a craps table profitable or to keep a row of nickel slots profitable.

Welcome back.

This seems like an opportunity to bring in more nice short tables, where they are built for one dealer only, who does it all? I'd like a nice short one dealer table. There is enough electronic security that tables don't need 4 casino employees to run a game?

I won't play on an aircraft carrier anymore anyway.
beachbumbabs
Administrator
beachbumbabs
Joined: May 21, 2013
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May 4th, 2020 at 4:09:53 PM permalink
Quote: racquet

The public orders that I have read couch the need to wear a mask around an "inability to keep social distance." Otherwise, the requirement to wear a mask if you want to "appear in public" would mean that there is absolutely no situation in which you can be not wearing a mask. None.

On a bike? On a hike? In a car alone? Licking an ice cream cone? [apology to Dr. Seuss] Absent some kind of wording that reduces "in public" to something reasonable, this is an absurdity.

There's wording in the Massachusetts mask requirement "law" that exempts someone with a medical condition: "...except where a person is unable to wear a mask or face covering due to a medical condition" and the person "shall not be required to produce documentation verifying the condition."

"Appear in public?"



I was speaking specifically about NY, in response to NY laws. They have a density and public transportation dependency unique in the US, though of course other metro areas have public transportation.

I haven't seen the exact language NY is using to guide their re-opening, but have heard most of Cuomo's briefings, and this is where he's heading. No stores without masks, no public transportation without masks, no school this year, etc for NYC Metro. Upstate has different density and requirements, also different transportation patterns, so phasing will likely be zoned differently within the state. Missed today's briefing, though, so not up on the very latest.
If the House lost every hand, they wouldn't deal the game.
petroglyph
petroglyph
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May 4th, 2020 at 4:16:00 PM permalink
Quote: SOOPOO

...With unlimited resources we can spend on unlimited supplies, factories, etc.... WE DON'T HAVE UNLIMITED RESOURCES.

Somebody should have told that to the federal reserve before they started buying junk bonds.

They now have a 5.5 trillion dollar portfolio. It probably felt good when stocks were going up because printed money allowed corporations to buy back their own stock, instead of Capex.

https://wallstreetonparade.com/?s=size+of+fed+portfolio

https://wallstreetonparade.com/2020/05/wall-streets-financial-crisis-preceded-covid-19-chart-and-timeline/
billryan
billryan
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May 4th, 2020 at 4:17:31 PM permalink
Quote: Keyser

Quote: billryan

Quote: billryan
Unemployment benefits come from a fund employers pay. Employees don't pay into it.



This line of thinking is scary. FYI, employees pay into it indirectly in the form of a lower initial wage.

FYI... Money doesn't magically come from no where. Believe it or not, employers can eventually run out of it too. Even Mc Donalds.



Unemployment benefits come from a state-run insurance fund. Even if your employer runs out of money, it doesn't affect the employees ability to collect.
petroglyph
petroglyph
Joined: Jan 3, 2013
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May 4th, 2020 at 4:28:23 PM permalink
Quote: darkoz

Quote: petroglyph

Years ago, labor, in lieu of pay raises agreed with employers to accept UI insurance instead of raises.

If that employee doesn't work, that employer doesn't just pay into the UI fund, think about it. If you sell a car, do you continue to pay road hazard on it?

Likewise, self employed, if incorporated can pay in on themselves and collect, unless the rules changed. Since a corporation is now people, it's like working for an employer, that wants to guarantee it's employee's [us] don't starve in between gigs.



My old employer always tried to get people to quit by making life hard rather than outright fire them.

Old trick. : 0 )

Quote:

He told me the employer pays half the unemployment given to the fired worker although there were some gross negligence reasons why an employer could get exemption (severe no show at work, stuff like that)

Fired for cause, insubordination, etc. Yes it is like insurance, because it is insurance. During times of full employment when everyone is paying into the pool, the UI dept. is raking it in, and like fire insurance, sucks to be them [although they are muni] they have a heck of a burn rate during recessions. But this is an entirely different ballgame. If this was being covered by mutual of Omaha, they'd sink the Oracle.

Quote:

It's an insurance fund. Think of it like deductibles. The insurance doesn't cover fully. Only thing is the person unemployed doesn't have income so he isn't the one who has to pay it's the employer

Yep, big pool during full employment. Also from denied and never claimed claims. We've been hearing story's of full employment long enough, that employers should have demanded a cut in rates. Like Geico is offering me now.
Keyser
Keyser
Joined: Apr 16, 2010
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May 4th, 2020 at 4:34:18 PM permalink
Quote: billryan

Quote: Keyser

Quote: billryan

Quote: billryan
Unemployment benefits come from a fund employers pay. Employees don't pay into it.



This line of thinking is scary. FYI, employees pay into it indirectly in the form of a lower initial wage.

FYI... Money doesn't magically come from no where. Believe it or not, employers can eventually run out of it too. Even Mc Donalds.



Unemployment benefits come from a state-run insurance fund. Even if your employer runs out of money, it doesn't affect the employees ability to collect.



Wow that went right over your head.

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