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Uber investor: the “1099 economy” is here regardless of whether it’s good for workers

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posted on Jun, 12 2015 @ 04:02 PM
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I've done 3D flow modeling on the side for years. 1099's are simple, by the time I deduct traveling to the client, depriciate my equipment, upgrade my equipment and operating costs, I usually come out ahead in taxes.




posted on Jun, 12 2015 @ 04:17 PM
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a reply to: onequestion

being a 1099 contractor actually involves someone who brings $1000. worth of talent and expertise to a slot which returns ~$500. in take home pay

the 1099 producer will never hit-the-ground- running, there is always a Revving up period & that is what the 1099 provider is leveraging to the hirer's advantage

large Corps' make out like bandits with the cost of service you provide...with the supposed 'free-market' contracting price you agreed to...(the 'pigs' have a very secretive network ~between themselves~ to contain the price-cost of what they are willing to pay for certain results )
IOW: You are not really commanding your own reward/return-on-investment as you think you are...

19 years ago, when I was forced to remove myself from the 'work-force'
...the "window" for subcontracting as a 1099'er was in the ~$26. dollar-an-hour range,
I can only imagine ----- the present 'window' has been lowered to ~$24. per hour (deflation at work here huh?) because the PTB have deemed it so


edit on th30143414439312262015 by St Udio because: (no reason given)



Uber not withstanding...I think that Uber is a manipulation-tool being foisted on the gullible sheeple
edit on th30143414457712292015 by St Udio because: (no reason given)


 



don't you see that the qualified labor force Is being squeezed and compacted by the designed "limiting aspects' of measuring up to being a 'self-employed-sub-contractor" (taking all the costs of screening you from the bottom-line of Mega-Corps)
edit on th30143414836512322015 by St Udio because: (no reason given)



posted on Jun, 12 2015 @ 05:06 PM
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a reply to: onequestion

I think its all good as long as there is *real affordable* healthcare.

I mean like $40-$50 a week healthcare and not $600+ a month healthcare.

And maybe some sort of gov't pension and disability program that exceeds the payout of Social Security.

What is good about this 1099 style of working is that it affords you some sort of freedom.
edit on 12-6-2015 by nOraKat because: (no reason given)



posted on Jun, 12 2015 @ 05:22 PM
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originally posted by: nOraKat
a reply to: onequestion

I think its all good as long as there is *real affordable* healthcare.

I mean like $40-$50 a week healthcare and not $600+ a month healthcare.

And maybe some sort of gov't pension and disability program that exceeds the payout of Social Security.

What is good about this 1099 style of working is that it affords you some sort of freedom.


 


more precisely the "illusion" of more freedom & money

you can pump up your SS payout by paying more into your account each fiscal Quarter

as for a pension-disability program that is better than SS...that's what consumer health-care policies & IRA's/ROTH ACCOUNTSwere made for... ~ GO outside the socialist system ! !



posted on Jun, 12 2015 @ 11:41 PM
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In most over populated developing countries they are hiring only college grads and only for 6 month contract. At the end they hire new employees. This way they pay no SSI no benefits and because of the high population they have a never ending supply of workers graduating every year by the thousands. This is what the world is coming too.



posted on Jun, 13 2015 @ 12:30 AM
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"1099" is fine, if you're in a "be your own boss, pave your own destiny" type situation. Only if you are aware of all the IRS requirements for this tax status, like paying quarterly installments, (to avoid penalties) and understanding that you have no workers comp, and other benefits you would have with a regular employer. That's what comes with "being your own boss".

However, many companies, especially ones involving sales and quoatas, wrongly "1099" their employees who are just that, employees. It has actually become a big problem that employers have done this without first checking with the IRS. The IRS requires strict proof that a 1099 situation is called for and many employers who do this, don't take the right steps in proving it. Greedy employers purposely avoid this step to avoid additional fines like workers comp, unemployment, SS, medicare etc.

Employees who feel wronged by this tax status can file an S-88 form to the IRS, but many don't for fear they may lose their jobs.
edit on 13-6-2015 by Wookiep because: (no reason given)



posted on Jun, 13 2015 @ 01:38 AM
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1099's allow a corporation to use employees but without the need to cover them as employees, shifts the SS tax burden onto the contractor, and removes all legal/healthcare liability from the corporation onto the contractor. Just remember 1099 contractors, there are no legal recourse for firings, discrimination, taxes, healthcare for injuries, worker's comp for work you do as an independent contractor. YOU are your own employer, after all, that company you might be doing work for has no obligation to you at all under this arrangement.



posted on Jun, 14 2015 @ 11:54 AM
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originally posted by: Blackmarketeer
1099's allow a corporation to use employees but without the need to cover them as employees, shifts the SS tax burden onto the contractor, and removes all legal/healthcare liability from the corporation onto the contractor. Just remember 1099 contractors, there are no legal recourse for firings, discrimination, taxes, healthcare for injuries, worker's comp for work you do as an independent contractor. YOU are your own employer, after all, that company you might be doing work for has no obligation to you at all under this arrangement.


see my post above

They aren't their own employer the one who contracts you still can fire you without notice and force you to train your replacement. Happening in most countries, recently in the US and not so much in the EU block.



posted on Jun, 14 2015 @ 12:02 PM
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a reply to: ChesterJohn

The a few countries in the EU do a fantastic job of protecting their middle class and the workers of those countries.



posted on Jun, 14 2015 @ 01:14 PM
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a reply to: ChesterJohn


They aren't their own employer the one who contracts you still can fire you without notice and force you to train your replacement


You're missing the distinction between a 1099 contractor and an employee. Yes, both can be fired, but the employee can file for unemployment and contractor cannot. An employee is covered by the worker's compensation fund, the independent contractor is not. Because you are an independent contractor, you have to cover worker's comp, unemployment, and social security taxes on your own.

That's why companies LOVE the idea of shifting employees off the payroll and onto 1099 independent contracts.



posted on Jun, 14 2015 @ 01:25 PM
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Once this new trade act guts the rest of the workforce the 1099 economy will be a way of life. Hell, I run my own business and I hire a LOT of freelancers who are putting their skills to good use.

Those that rely on companies to survive are in for a rude awakening, while those that hustle and go into business for themselves will be left standing when the smoke clears



posted on Jun, 14 2015 @ 01:29 PM
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a reply to: supremecommander

Well basically there had to be money available locally in orde for people to hustle but I agree with you.

There has to be a balancing between cost of living and wages before this can work.



posted on Jun, 14 2015 @ 01:31 PM
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originally posted by: onequestion

Be ready to get your hustle on people. Millenials mine as quit college because your going to be a damn servant to this new 1099 economy.

God what a joke.


Well Obamacare is the front spear on this... Hire someone full time and a lot of expense, hire two people part time and zero expense. Take Nike, if it was cheaper to make their shoes in America then they would, hell the complexity of shipping would be non-existent. The Government can make that happen, the government can also make it desirable to have full time workers, the government can also make it undesirable to have undocumented workers too.



posted on Jun, 14 2015 @ 01:33 PM
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originally posted by: ChesterJohn
In most over populated developing countries they are hiring only college grads and only for 6 month contract. At the end they hire new employees. This way they pay no SSI no benefits and because of the high population they have a never ending supply of workers graduating every year by the thousands. This is what the world is coming too.


This was going on back in 2002, graduated college and couldn't get a permanent gig to save my life. All that did was breed disillusionment with working for companies so I just started saving up to start my own business. Its not an easy road but I'd rather try and fail instead of relying on a company to feed me.



posted on Jun, 14 2015 @ 04:03 PM
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originally posted by: Krazysh0t
a reply to: olaru12

I made my money and survived until I have the job I have now. Like I said, earlier I was working bar trivia for a while. I was busing tables for a while too. I just don't want to do sales anymore, because I don't make any money. I can't count the number of times I didn't hit incentives for quotas at BoA and just got my base pay instead of a commission. Of course it didn't help that the quota kept going up month after month, and I was working at BoA in 2007. So we all know how this story ends.



same experience here when I "very briefly" worked in sales back in my 20's.....companies have been doing this for decades. they thrive on your enthusiasm just to get the job, and trust that the company will do the "fair" thing. later you find out about the true nature of that "you barely missed your goal, but keep trying, we know you can do it" attitude.



posted on Jun, 15 2015 @ 07:41 AM
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a reply to: jimmyx

I feel like I'm just too honest for sales. It's really all there is to it. I mean I know that BoA certainly enjoyed employing workers like me who hit the base quotas month after month but just never enough to get commission. I just learned about all the shady crap that BoA does and tries to sell to its customers that I just had a tough time propositioning it.

At least when they reclassed my job in 2008 to credit collections it became easier (though incentives dropped into the toilet).



posted on Jun, 16 2015 @ 09:45 AM
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originally posted by: Witness2008
Why would a guild system be needed. Myself and hoards of others like me insure ourselves. I set aside money to cover myself for any and all emergencies, and collect interest on that sizable savings. Why would I give any money to a corporate or government entity that in the end won't really take as good care of me as I would


How long did it take you to learn all that AND not lose money in the process?

I take Uber on occasion and anecdotally, based on a dozen conversations I had with the Uber drivers, the only ones who seem to understand how quarterly taxes, unemployment, car insurance and workers comp function for independent contractors on 1099's, are guys who used to be taxi or limo drivers. An increase of just 10% more 1099 workers in the United States, over a 12 month span would wreck havoc on the tax collection system that we have now for State and Federal. Also rates for thing like health insurance and car insurance would skyrocket in an economy filled mostly with 1099 workers because they would all be carrying the wrong kinds of insurance, due to not being familiar with what is needed to run a business and not simply be a W-2 employee.

AGAIN, Its unworkable because the United States has no guild system for most professions, that HELP guide new workers through the process of NOT being a W-2 wage slave. In order for a 1099 economy to work on a large scale, groups of people in the same industry need to pool insurance, workers comp, unemployment, disability and retirement, like SAG-AFTRA does for its members.

DO YOU KNOW WHAT SAG-AFTRA IS?

Without something like that in place, most people will end up not being able to go to the doctor, have no way to save properly for retirement, increased chance of not being approved for unemployment benefits and will always be at risk of being injured on the job having no way to support themselves afterward because they won't have access to workers comp. Short term, for the country, people getting 1099's, for the first time in their lives, are certainly not going to plan for taxes correctly. There will be HUGE tax shortfalls across the board if the 1099 economy becomes mainstream.

American simply aren't financially savvy, nor educated enough to deal with a 1099 business arrangement AND handle their own health insurance, workers comp, unemployment, disability and retirement ON A LARGE SCALE ACROSS THE ENTIRE COUNTRY.

YOU are in the minority and an exception to the scenario I have laid out above.

It IS a nightmare scenario for simple people, that can give an honest days work, but aren't educated nor intelligent enough to navigate small business regulations.
edit on 16-6-2015 by boohoo because: (no reason given)



posted on Jun, 16 2015 @ 12:11 PM
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a reply to: boohoo
I myself will have to take a crash course class or a learning curve will have to happen in order to learn all these things.

Not looking forward too it.



posted on Jun, 16 2015 @ 12:11 PM
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a reply to: boohoo
I myself will have to take a crash course class or a learning curve will have to happen in order to learn all these things.

Not looking forward too it.



posted on Jun, 16 2015 @ 01:04 PM
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a reply to: onequestion

Thanks for posting this, S@F.

It's similar to these temp agencies using people and then discarding them like yesterday's trash. When you're not an employee, rather an independent contractor, they don't have to provide any benefits. They can get rid of you and hire one of hundreds of people waiting in line desperately for a job, any job.

Been there, done that with temp agencies. I came close to suing a couple of them over how I was treated.

I think it's awful that these companies get away with this. They don't give a flying fig about the people working for them. I will not do business with any company that does that.



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