4 ms·
US, yup. I'd like to be able to support a family, and that means something like $1100-$2000/mo mortgage, likely 2 cars/insurance going something like $500, util
by stefan_kendall3 12y ago
US, yup. I'd like to be able to support a family, and that means something like $1100-$2000/mo mortgage, likely 2 cars/insurance going something like $500, utilities around $300/month.
And that $10k isn't $10k. It's more like $6k after taxes.
So with food and miscellaneous expenses, things start to get tight pretty quickly. Health insurance for a self employed person for a family will easily be $2000+/month. So on top of the high taxes, which are even higher for being self employed, you're getting a non-employer-paid health insurance plan.
...I think my "$10k/month" was probably a bit low, actually.
- gabrielhauber 12y agoExtra taxes if you are self-employed? What, does your government want to discourage small business innovation or something?
- stefan_kendall3 12y agoIt's the welfare programs that usually get split 50/50 with employer that you must pay 100% yourself. http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employment-Tax-Social-Security-and-Medicare-Taxes http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employ... Medicare which I don't use, because I buy insurance, and social security which I'll never be able to collect.
- gabrielhauber 12y agoLet's see… I don't have to pay any tax at all for the first $18000 pa. Then, only 19c in each dollar up to $37k, and higher rates above that, but nothing as high as working out to be 40% of income... And... being a family with kids, the government gives us money... I actually get from the government more than I currently pay in taxes. And... we have (relatively) an excellent public health system. I have no need to buy health insurance, even with a large family. So... I am glad I'm not trying to do this in the US!!!
- rmc 12y agoSocial welfare can help entrapenours.