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The title references a famous rap song: "Money, power, and respect / First you get the money / Then you get the #$ (#% in', power / After you get the #$#(%in' power / Mutha*#(%#%s will respect you."
Why does payroll exist, anyway?
Enter tax withholding
An aside about tax preparation software
Withholding taxes were an operational disaster in early implementations
So what happens in payroll, anyway?
“Where is the risk transfer?”
What about those other payments?
Where is the frontier in payroll?
Payroll processors exist to provide financial infrastructure and because political economy is complicated.
We are not affiliated with Patrick McKenzie. This unofficial audio edition is available to listen to and share for free. Read the original on Bits about Money.
Duration
~32 minutes (30K characters)
Release date
Dec 20, 2023