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Tue Jun 19, 2012, 01:54 PM

In Case You Missed This... 'Worker's Taxes Siphoned Off By Their Bosses' - JimHightower/Lowdown

Worker's taxes siphoned off by their bosses
Jim Hightower - TheHightowerLowdown
Monday, May 28, 2012

<snip>

My congratulations to workers in 16 states from Maine to Georgia, New Jersey to Colorado! Many of you will be thrilled to know that the income taxes deducted from your paychecks each month are going to a very worthy cause: your corporate boss.

Good Jobs First, a non-profit, non-partisan research center, has analyzed state programs meant to create jobs, but instead have created some $700 million a year in corporate welfare. This scam starts with the normal practice of corporations withholding from each employee's monthly check the state income taxes their workers owe. But rather than remitting this money to pay for state services, these 16 states simply allow the corporations to keep the tax payments for themselves! Adding to the funkiness of taxation-by-corporation, the bosses don't even have to tell workers that the company is siphoning off their state taxes for its own fun and profit.

These heists are rationalized in the name of "job creation," but that's a hoax, too. They're really just bribes the states pay to get corporations to move existing jobs from one state to another, or they're hostage payments to corporations that demand the public's money or else they'll move their jobs out of state.

Last year, Kansas used workers' withholding taxes to bribe AMC Entertainment with a $47 million payment to move its headquarters from downtown Kansas City, Missouri, to a KC suburb on the Kansas side, just 10 miles away. What a ripoff! Among the 2,700 corporations cashing in on such absurd diversions of state taxes from public need to private greed are Goldman Sachs, GE, Motorola, and Procter & Gamble.

<snip>

Link: http://jimhightower.com/node/7754

Lowdown Hompage: http://jimhightower.com/

GoodJobsFirst Home: http://www.goodjobsfirst.org/

Report for this OP: http://www.goodjobsfirst.org/taxestotheboss






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Reply In Case You Missed This... 'Worker's Taxes Siphoned Off By Their Bosses' - JimHightower/Lowdown (Original post)
WillyT Jun 2012 OP
alfredo Jun 2012 #1
BadgerKid Jun 2012 #2
HiPointDem Jun 2012 #3
alfredo Jun 2012 #4
proud2BlibKansan Jun 2012 #5
WillyT Jun 2012 #7
proud2BlibKansan Jun 2012 #9
JackHughes Jun 2012 #6
WillyT Jun 2012 #8

Response to WillyT (Original post)

Tue Jun 19, 2012, 02:29 PM

1. It's happening in Kentucky too. Then the Republicans wonder why government

isn't working.

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Response to alfredo (Reply #1)

Tue Jun 19, 2012, 02:36 PM

2. But it does work -- for them. n/t

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Response to BadgerKid (Reply #2)

Tue Jun 19, 2012, 02:46 PM

3. +1

 

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Response to BadgerKid (Reply #2)

Tue Jun 19, 2012, 04:35 PM

4. And they don't care what happens to us.

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Response to WillyT (Original post)

Tue Jun 19, 2012, 04:44 PM

5. Yep, here in Kansas too.

They lured a company to move across the state line from MO and the incentive is $30 million. The company is being allowed to keep the state withholding taxes they take from employees' pay.

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Response to proud2BlibKansan (Reply #5)

Tue Jun 19, 2012, 05:02 PM

7. Sounds Like Something ALEC Would Cook Up... Anybody Know ???




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Response to WillyT (Reply #7)

Tue Jun 19, 2012, 08:16 PM

9. More like Chamber of Commerce

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Response to WillyT (Original post)

Tue Jun 19, 2012, 04:57 PM

6. An AMT for states

There needs to be a federal Alternative Minimum Tax for states to keep them from "racing to the bottom" in order to attract businesses from more responsibly taxed states.

States should not be penalized by corporations for responsible self-government.

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Response to JackHughes (Reply #6)

Tue Jun 19, 2012, 07:21 PM

8. Great Point !!! - And Welcome To DU !!!



Glad ta have ya aboard!!!




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