The Real News Network has the final part, Pillaging the Public Treasury – David Cay Johnston on Reality Asserts Itself (4/4), of its series with David Cay Johnston.
Twenty-nine hundred American companies at least–and, you know, unlike other things, we don’t have great statistics on this. You have to go dig out every deal and find the records. Well, at least 2,900 large companies in America, including many foreign companies, get to keep the state income taxes withheld from their workers’ paychecks. The worker has the state income taxes withheld: you get your paycheck, you made x dollars, and this, this, this, this gets sliced off. The company doesn’t turn over the state income taxes. The state lets them keep it. There are hundreds of thousands of workers covered by this.
Warning <sarcasm>
In this era of privatization, why shouldn’t companies collect taxes from us and keep the proceeds?
</sarcasm>
The other three parts of this series are covered by my previous post The Deep State and the Power of Billionaires – David Cay Johnston on Reality Asserts Itself (3/4)
I did a Google search of this topic – corporations keep state income tax. I only looked at the first page of the results. I didn’t find a reference that didn’t eventually lead back to David Cay Johnston. FWIW.