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Politics : Formerly About Advanced Micro Devices
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To: SilentZ who wrote (458737)2/23/2009 10:50:45 AM
From: i-node  Read Replies (1) of 1573937
 
They all have to pay the same taxes they would if they were working for someone else. I'm not sure why that's a problem.

This, of course, is not how it works.

As an employee, a person pays 7.65% in social security and medicare taxes (up to the max). Then, the employer matches it for a total of 15.3%.

A self-employed person is required to pay the full 15.3% out of his own pocket (although he gets a partially-mitigating income tax deduction).
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