This is the last straw!

SuperDelegate#12 · #1 (**permalink**) 05-15-2008, 02:09 PM

I'm selling my Trucking company and getting out of business for a while.

I learned today that Obama and other democrats are pushing laws to eliminate the independent contractor status or 1099 tax status. I have 18 1099 contractors working for me as of today. What this would mean is that I could not treat these guys as contractors, that I would have to treat them as employees. The difference is that an employee has to have taxes withheld and social security withholding. In case you don't know those of you who have jobs, take out your last paycheck and look at the FICA withholding. It's about 7.5% of your gross pay. Your employer has to match that. If I have to treat my contractors as employees and match their FICA and other tax withholdings it will cost me $175,000 this year and based on our growth rate $250k in 2009. I'll be damned if I take this risk. Now I don't really think Obama has much of a chance to win this thing but I'm not taking the risk.

I'm selling. I'll take my $2.5 million and move to Mexico if Obama gets elected. I'll be able to live like a king on that kinda money. And that's just the bucks from selling the trucking company.

Heckler · #2 (**permalink**) 05-15-2008, 02:11 PM

Enjoy Mexico! See ya!

IcyPeaceMaker · #3 (**permalink**) 05-15-2008, 02:12 PM

Both parties are on a mission to destroy the middle class, which makes us easier to control as peasents. America better wake up or be prepared to learn basket weaving.

SuperDelegate#12 · #4 (**permalink**) 05-15-2008, 02:27 PM

That's way Obama wants to take our guns because he has a plan to oppress the population and impose islamic law.

SuperDelegate#12 · #5 (**permalink**) 05-15-2008, 02:29 PM

Quote:

Originally Posted by Heckler

Enjoy Mexico! See ya!

I will I'm trying to decide if I want to go live around Cancun or on the west coast. It'll be great because after Obama destroys the health care system all the Dr. will move down there with me. We'll start some clinics for Americans that don't want the shitty health care they'll have to have in the US of Obama.

pjwky · #6 (**permalink**) 05-15-2008, 02:37 PM

Quote:

Originally Posted by SuperDelegate#12

I'm selling my Trucking company and getting out of business for a while.

I learned today that Obama and other democrats are pushing laws to eliminate the independent contractor status or 1099 tax status. I have 18 1099 contractors working for me as of today. What this would mean is that I could not treat these guys as contractors, that I would have to treat them as employees. The difference is that an employee has to have taxes withheld and social security withholding. In case you don't know those of you who have jobs, take out your last paycheck and look at the FICA withholding. It's about 7.5% of your gross pay. Your employer has to match that. If I have to treat my contractors as employees and match their FICA and other tax withholdings it will cost me $175,000 this year and based on our growth rate $250k in 2009. I'll be damned if I take this risk. Now I don't really think Obama has much of a chance to win this thing but I'm not taking the risk.

I'm selling. I'll take my $2.5 million and move to Mexico if Obama gets elected. I'll be able to live like a king on that kinda money. And that's just the bucks from selling the trucking company.

************************************************
Mexico's loss & our gain: AMF ...pjwky

crowonapost · #7 (**permalink**) 05-15-2008, 02:38 PM

Pink Bunny. You really need to stop being so hysterical. You are like a woman perpetually on the rag.
"I heard" is enough reason to have a nervous breakdown sell your company & move to Mexico? Wouldn't it be prudent to try & get the facts before having a bad hair day melt down?

You seem rather emotionally fragile....

The facts,

Quote:

The way it works is this, an employer can cut its payroll costs by up to 30% if it calls a worker an “independent contractor” instead of an “employee” and issues a Form 1099 instead of Form W-2 to the Internal Revenue Service (IRS). As long as it treats like workers the same, the employer does not have to withhold taxes from the worker’s pay, forcing workers to pay all their own payroll taxes as if he or she were self-employed. And, at the same time, the employers fail to pay their fair share of federal and state payroll taxes. Section 530 bars the IRS from penalizing the employer if he falls under the safe harbor, requiring a change in the treatment of workers even if the IRS concludes that those workers should be treated as employees, and it bars the IRS from writing rules, regulations and guidance on the matter.

Genuine independent contractors make up a small part of the American workforce because, by definition, an independent contractor operates his or her own business. They have specialized skills, they invest capital in the business, and they perform a new service, not just routine services already that other workers already provide. Most workers, especially in labor intensive jobs like construction are not operating a business of their own.

There are legitimate independent contractors in every industry. And it is not our intent to undermine their work. By ensuring that the IRS can require employers to properly classify the people working for them as well as give them guidance on how to do that, we will ensure that both true independent contractors and true employees are treated as such.

Now are you implying if you can't handle that...that you are lying to the IRS about your employees?

Or are you just misunderstood & fell apart on a rumor?

jan · #8 (**permalink**) 05-15-2008, 02:40 PM

Buh-bye!

SuperDelegate#12 · #9 (**permalink**) 05-15-2008, 03:05 PM

Quote:

Originally Posted by crowonapost

Pink Bunny. You really need to stop being so hysterical. You are like a woman perpetually on the rag.

Now are you implying if you can't handle that...that you are lying to the IRS about your employees?

Or are you just misunderstood & fell apart on a rumor?

Well don't you have an enlighted view of women!

I have 18 1099 contractors working for me today. They own their own trucks and buy their own fuel. They work for me at will, and my dispatch is not forced. They are free to quit anytime they want. I will not be forced to treat them as employees. It will cost me at least $10,000 more for each one of them if they are employees. I'm telling you people that this isn't going to happen. That's $180,000 this year out of my pocket, it is in effect a tax increase. I'm taking my money and getting out. If this creep Obama gets elected I'm moving myself my family and my money to Mexico. I'm retiring at 46. After the country wises up I might come back.

The whole point is this bullshit tax will not be taken laying down. I'm not the only business owner who uses 1099 contractors. I pay them well and they like being 1099 because they save huge money on their taxes by being 1099 rather than W2. Lot's of people are gonna lose their jobs if this stupid law is passed.

dlrrtx · #10 (**permalink**) 05-15-2008, 03:06 PM

We are headed for depression, at best. All of you on the left, who hate W (the most liberal President since LBJ), with Obama, you are going to get W on steroids and HGH. Incredible, Dems and Rockefeller Republicans have put us on a path for disaster, and now convinced the country that it is the "right wings" fault. It would be like the kitchen in your home catching on fire (Bush), and instead of going to get water to put it out, you go and get gasoline, rocket fuel, and napam (Obama with Dem controlled house and senate), thus torching the whole thing to the ground, along with the rest of the neighborhood.

BTW, has anyone seen Al Gore lately? I just knew he would be center stage, taking all the credit for the ethanol situation (starving 1/3 of the world, polluting the air worse than gasoline)