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Reply #3: About 1/4 of my income comes from self-emplyment, which means, of [View All]

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Home » Discuss » Topic Forums » Economy Donate to DU
tblue37 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-13-08 03:45 PM
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3. About 1/4 of my income comes from self-emplyment, which means, of
Edited on Sun Apr-13-08 03:46 PM by tblue37
course, that I pay double in SS taxes on that income, since I pay both the employer's share and the employee's share. As a result, I lose to taxes about 40% of everything I earn as a self-employed person. I don't make that much money, but I pay a very large chunk of it in taxes, so it really pisses me off that these multibillion dollar corporations that achieve obscene windfall profits by shipping jobs overseas to exploit starving laborers in developing countries are also able to avoid paying their fair share of taxes.
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