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It's an insurance payout that everyone is forced to pay premiums for out of every paycheck. CA SDI tax is 1% on the first $122,909 earned. Of course the payout
by zaroth 7y ago
It's an insurance payout that everyone is forced to pay premiums for out of every paycheck. CA SDI tax is 1% on the first $122,909 earned.
Of course the payout is capped, so anyone earning more than maybe $30k is subsidizing the insurance pool, but anyone who qualifies for SDI should absolutely claim it, because it's a benefit they have been paying for.
- Retric 7y agoNot everyone pays the same percentage out of every paycheck. The US tax code is setup to avoid people getting six+ figures from these programs as that would create huge political blowback. Just picture a CEO who runs their company into the ground and then gets X0 million from unemployment insurance.