Lately I’ve been spending more time in the business world. And I’m realizing what a scam this all is.
Some facts:
1.) people with W-2s pay the most taxes. Basically
Someone working minimum wage for one week pays 20 ish percent in hidden income taxes ( both sides of FICA / Medicare, plus hidden unemployment insurance and workers comp)
Taxes are highest for someone making $160k. After that, we’re talking business owners who can use all the tax tricks. Landlords basically pay zero taxes. And the richer you are, the lower percent you pay because of tax tricks.
2.) every wage earner I’ve met underprices themselves.
I’ve had numerous people say, when i ask “what do you charge?” (For labor) they quote what is essentially starvation wages.
3.) business owners all compete with each other to pay as little as possible.
Actual things I’ve heard people say in the last month.
“How do you get interns? You don’t have to pay them anything, right?”
“Why are you paying $30/hr for (service)? You know you can get that for $8/hr.” (Attaches link to a company hiring people in 3rd world counties)
It’s not even in business owner’s interest to underpay people. But they do it just because they can. It’s a sickness