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One interesting, and somewhat ironic, historical footnote to this, is that Milton Friedman was part of the group that conceived of and implemented employer with
by krrrh 10y ago
One interesting, and somewhat ironic, historical footnote to this, is that Milton Friedman was part of the group that conceived of and implemented employer withholding as we know it while he was working at the Treasury department. Though by his account it was introduced during WWII and not in the 1930s.
ref: http://conversableeconomist.blogspot.be/2014/04/how-milton-friedman-helped-invent.html http://conversableeconomist.blogspot.be/2014/04/how-milton-f...
- caseysoftware 10y agoYou're right, income tax withholding wasn't implemented until 1943. Social Security withholding was introduced in 1935. I was probably combining the two. Thanks for the correction. Ref: http://www.investopedia.com/articles/tax/10/understanding-tax-withholding-system.asp http://www.investopedia.com/articles/tax/10/understanding-ta...