Employee stock-owned companies saved the federal government more than $37 million in 2010 during high employment, according to an analysis by the National Center for Employee Ownership and the Employee Ownership Foundation.
The analysis finds that employee stock-owned companies laid off employees four times less than more traditional companies.
"When a person has a job, she or he pays federal income taxes, Social Security taxes, Medicare taxes and does not collect unemployment compensation," says J. Michael Keeling, president of Employee Ownership Foundation. "So the fact that employee owners were more than likely to pay taxes and not collect unemployment compensation means Uncle Sam's fiscal house would be so much better off if there was more employee ownership."
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