Quote Originally Posted by metalman
I agree it will not sit well...but I am not sure it will fail. I agree with you in principle though.

In private companies this employee screwing is done quite frequently.
Its one reason that unlike my fathers generation most folks now have to keep switching jobs their entire career and hope they dont get fuked out of any retirement plan etc. Whereas, in my dad's generation a fellow worked at the same plant, company, whatever...for 30, 40 years or more and then collected a nice pension.

I used to manage a multi million dollar private company. The owner there eliminated all contributions to pension/401k etc etc plans, and eventually all but eliminated profit based bonuses for the key players in the company who influenced the bottom line....all while increasing his own 'take' and the 'take' of his relatives in the company. Alot of it was done under cover...but as I kept the books it was known to me. Also, over time he eliminated gas and vehicle perks and many other benefits (income) from the employees while increasing his own. Eventually he ditched me in favor of someone cheaper as well. That company has tripled in revenue since I left so if you ask people like him, they'll lie to you and tell you they agree with you....but they'll screw theyre employees out of as much as they can.

I can tell you this, his tax concern was equally balanced bewteen his personal income and corporate tax. He paid himself a lower salary then typical for his type biz and then took perks, many of which would be illegal, such as charging personal items to the company, hiding it as job & labor costs etc etc to fluff his income to a very healthy amount. This also enabled him to look his key employees in the face and tell them various jobs/accounts werent as profitable as hoped....yeah...because he added "costs" them for personal gain ...and then of course profit sharing would be less.

I find this approach in private business to be typical...and youre very fortunate if you work for a company thats different. I think many dont realize exactly whats going on because they dont see the books.

Sorry for the halfassed threadjack...your comment brought many thoughts to mind.
this is exactly what i'm talking about... most business owners are going to compensate moving purchases through business, etc...

i worked for a company that had people on payroll (family members) that never even walked in the building and they made more then execs - BS happens all the time with private companies but the fact of FEAR tatics like "america will lose jobs over obama tax cuts" - come on.