I wrote an article on January 17th detailing the consequences to North Carolina’s business owners and corporations due to Governor Perdue’s default on payments to the federal government for unemployment benefits. I sent a link to this article to every North Carolina representative and senator in the General Assembly for their reaction.
The video below represents 100% of their responses:
The government of the people, for the people and by the people? It is curious that the Republican politicians who control both the house and senate in North Carolina have no response to what should be a top campaign issue. Perdue was quick to take the stimulus money from Washington without thinking of its true price: she just kicked the can down the road. The consequences are a $2.6 billion debt (and counting) plus interest that neither political party in the General Assembly wants to address in an election year.
Since this debt is not being addressed by any in our irresponsible political class, it looks like the “evil” businesses will be “taxed” to pay for the largess of Socialism. This is just another disincentive for businesses which will either leave or not consider North Carolina’s unfavorable business climate.
Due to Perdue’s default, North Carolina is now classified as a “Credit Reduction State” under Federal guidelines. This means every business must now pay an additional Federal Unemployment Tax (FUTA) penalty.