“At first “The Wilderness” may seem like a barren wasteland of unemployment, marginal employment, and the daunting reality of “forced self-employment.” But it is a blessing in disguise for the talented people being ostracized and ex-communicated from Corporate America. For while you may be banished into the “Wilderness of Self Employment” you are in fact being forced into the world of 1099’ers. And while you may have to give up your creature comforts of W2, when you sit down and think about it…
I’m surprised to see this in LinkedIn.
“I don’t know how many times I’ve heard of an independent contractor programmer having to redo entire programs of code an H-1B visa screwed up, but it could be (and I would argue, is already happening) where the majority of a corporation’s W2 jobs are just make-work, affirmative action jobs for PR purposes, and the “real” work gets done by the 1099’ers. 1099’ers who charge $140 per hour, which is more than you’d ever get out of Corporate America.”
Point to ponder:
Corporate America claim they can’t afford to pay a white man an honest day’s wage for an honest day’s work.
Where do they find the money to convince him to do the work over?
I’m retired but I spent a lot of the last twenty years as an independent consultant correcting very expensive corporate data bases that were useless because the employee data input was incomplete and incorrect. It takes three or four times longer to correct than to do it right first time around. I would spend one or two years grinding away for $100+ per hour then move on to the next client. Once I had established a reputation companies would contact me. I was very lucky to find a niche in the corporate world where my knowledge and experience, and my ability to concentrate and work very hard, paid off big time. Yes I am a white male and, yes, the departments I worked in were ridiculously disproportionately female, 6:1 ratios or even higher, but I didn’t see the male employees’ work as being any better than the females and the “people of colour” were just like everybody else, in fact I remember observing many female “people of colour” being corporate employee shining stars, the best workers.
Not being an American, I have no idea what 1099 is supposed to mean or its significance here.
It appears to be some type of tax reporting form.
“… I have no idea what 1099 is supposed to mean …”
Bingo! And besides, I have no desire to find out. I leave that kind of terminology for the glib talking heads to regurgitate.
In Canadian terms, he’s talking about the difference between being a T4 employee and a T2125 self-employed person. I don’t know how social security deductions work for a self-employed person in the US, but a T2125 taxpayer has to pay BOTH sides (employer and employee) of the CPP deduction calculated on net income.
The S-Corporation provides all the same benefits without the individual risk…. Almost 100% of the Talking heads in the Media are S-Corps…….If you have the talent you will succeed beyond expectation
The present W2 situation started when Harvard created the TEAM concept, which was an attempt to capture talented Knowledge from retiring employees….. They captured absolutely nothing except a group of incompetence. The HR staff thinks that Human resourses are a Commodity (all equal)… NOT TRUE
The individual KNOWS he/she is flying the Plane… No distractions… Easy to contract real work that failing Corporations need done… Most if not all existing Corporations will FAIL at some point….The failure delta becomes shorter without a Government contract/ help…
I founded a C-Corporation that I switched to an S- Corporation to avoid insane PAYROLL taxes…(The rate was ~ 42% down the drain)
JMHO
A little reality, most of payroll taxes are stolen by those that don’t pay.. Lawyers & Doctors, Teachers & Professors……. All Union members that are exempt from payroll taxes….But when they find themselves without funds (Stolen by Union & like thieves) they get shoe horned into the SS & Medicare system…Corrupt all the way
The biggest fraud is Payroll Taxes that are NOT earmarked for those that actually are forced to have PAID….The Democrat Lawyers head a huge group of Thieves.. followed by Union defaults….The chain Migration scheme bleeds off huge amounts of Benefits meant for American Citizens….
Hang all the Fake Bastards
Im kinda a pioneer in this 1099 stuff.
in 1985 I walked away from (still) the highest paying salaried job ever.
I was a mainframe computer operator.
(hmmmm, whats off with THAT ‘picture’?)
it was the riskiest and SMARTEST move of my career.
I kept up ‘just behind’ the crest of the wave, just enough my skill set was and continued to grow enough I then carved out ANOTHER 10 years in IT. and then when I got fed up shelling out THOUSANDS in ‘upgrades’, went into . . . . . . . .
construction, my *other* inborn talent. did THAT for 5 years, then and only then, opted for early retirement.
now I tell people Im a modern day luddite. LOL !!!!