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To: DuncanWaring

“Time for the State of Texas to start escrowing all funds deducted from state employees paychecks for Federal Withholding and FICA payments.”

That would not be practical nor legal. And it would bring up very complex issues as to the consequences of failing to fund individual SS accounts. Those are direct-remitted to the IRS anyway, and the one thing that will cause the Feds to swoop in and chain a businesses’ doors shut is a failure to pay & remit payroll taxes.

Now, the portion of highway funds payable to the Feds collected via gasoline sales...that, I suspect would be a different story.


17 posted on 03/16/2012 1:24:59 PM PDT by Attention Surplus Disorder (The only economic certainty: When it all blows up, Krugman will say we didn't spend enough.)
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To: Attention Surplus Disorder

I was referring to the government of the State of Texas escrowing the withholdings of its own employees, not to private businesses.

It’s trivial for the IRS to chain the doors and levy the bank accounts of a private business.

Not so easy to do the same to a state government.


20 posted on 03/16/2012 1:31:29 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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