4 ms·
What lost tax revenue do you mean? Self-employed/temp/gig workers still pay the same taxes as full time employees.
by WillPostForFood 8y ago
What lost tax revenue do you mean? Self-employed/temp/gig workers still pay the same taxes as full time employees.
- honopu 8y agoNot 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 8y agoThat'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 8y agoGig independent contractors pay the same payroll tax as employee/employer pairs.
- pjc50 8y agoSame rates, lower overall income, and in some places lower social security contributions.
- mr_spothawk 8y agoThey'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 8y agoTheir low wages due to capital capturing profits instead of labor makes for decreased tax revenue