3 ms·

I’ve been shocked to the extent politicians haven’t focused on the lost tax revenue from the gig economy. I’m certain it’s caused a drop in tax revenue from wh

I’ve been shocked to the extent politicians haven’t focused on the lost tax revenue from the gig economy. I’m certain it’s caused a drop in tax revenue from what would normally constitute middle class tax payers.

dba7dba 7y ago
Politicians are not shocked by anything except when they lose in elections... Edit: In fact, what they say/act that they are shocked about is often a projection they put up to make sure they get reelected.
- shaki-dora 7y ago
  Oh c’mon... This is just empty, nihilistic cynicism. It actually contributes to the problem, because people just stop trying when, completely independent of their actions, they are continually derided as stupid/corrupt/egotistic/lying/etc.
WillPostForFood 7y ago
What lost tax revenue do you mean? Self-employed/temp/gig workers still pay the same taxes as full time employees.
- honopu 7y ago
  Not necessarily. https://turbotax.intuit.com/tax-tips/self-employment-taxes/tax-reform-changes-for-self-employed-businesses/L4OoLLhqR https://turbotax.intuit.com/tax-tips/self-employment-taxes/t... See 20% deduction on self employment income.
  - WillPostForFood 7y ago
    That's a good point, and it may net out to be an advantage for a gig employee. But is is a complicated calculation. Throw in the higher payroll tax rate for gig employees, and tax deductible healthcare expenditures by companies on employees and it is unclear there is any advantage in overall taxes paid.
    - fjsolwmv 7y ago
      Gig independent contractors pay the same payroll tax as employee/employer pairs.
- pjc50 7y ago
  Same rates, lower overall income, and in some places lower social security contributions.
- mr_spothawk 7y ago
  They're also responsible for paying for their expenses, and i'll bet they're not as good at getting writeoffs as the in-house CPA. So you might actually see increased revenues as a result. Decent question though.
  - fjsolwmv 7y ago
    Their low wages due to capital capturing profits instead of labor makes for decreased tax revenue
delecti 7y ago
Cynically, Dems want to tax the rich, and GOP wants to "starve the beast".
SketchySeaBeast 7y ago
Does anyone actually make money off the gig economy? I thought it was one of those "Robbing Peter to pay Paul" sort of deals.

dba7dba 7y ago

Politicians are not shocked by anything except when they lose in elections... Edit: In fact, what they say/act that they are shocked about is often a projection they put up to make sure they get reelected.

shaki-dora 7y ago
Oh c’mon... This is just empty, nihilistic cynicism. It actually contributes to the problem, because people just stop trying when, completely independent of their actions, they are continually derided as stupid/corrupt/egotistic/lying/etc.

WillPostForFood 7y ago

What lost tax revenue do you mean? Self-employed/temp/gig workers still pay the same taxes as full time employees.

honopu 7y ago
Not necessarily. https://turbotax.intuit.com/tax-tips/self-employment-taxes/tax-reform-changes-for-self-employed-businesses/L4OoLLhqR https://turbotax.intuit.com/tax-tips/self-employment-taxes/t... See 20% deduction on self employment income.
- WillPostForFood 7y ago
  That's a good point, and it may net out to be an advantage for a gig employee. But is is a complicated calculation. Throw in the higher payroll tax rate for gig employees, and tax deductible healthcare expenditures by companies on employees and it is unclear there is any advantage in overall taxes paid.
  - fjsolwmv 7y ago
    Gig independent contractors pay the same payroll tax as employee/employer pairs.
pjc50 7y ago
Same rates, lower overall income, and in some places lower social security contributions.
mr_spothawk 7y ago
They're also responsible for paying for their expenses, and i'll bet they're not as good at getting writeoffs as the in-house CPA. So you might actually see increased revenues as a result. Decent question though.
- fjsolwmv 7y ago
  Their low wages due to capital capturing profits instead of labor makes for decreased tax revenue

delecti 7y ago

Cynically, Dems want to tax the rich, and GOP wants to "starve the beast".

SketchySeaBeast 7y ago

Does anyone actually make money off the gig economy? I thought it was one of those "Robbing Peter to pay Paul" sort of deals.