Mike Andes (YouTube video, Mar 1, 2022) describes a "self employment revolution": rising numbers of workers quitting traditional jobs to become self-employed. He argues many new self-employed people earn less (median/50th percentile ~$34,000 per Gallup), lack social safety-net benefits (Social Security, unemployment), and that this trend may widen the rich-poor gap and increase pressure for higher taxes. He suggests employers and businesses should adapt to reduce financial downsides of self-employment.
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Now, although I definitely feel like stimulus has been a contributing factor to the great red nation, I feel like there's something that's actually bigger happening here. It's what I call the self employment revolution. And this is basically where people quit their job and instead of going and starting a business, they just become self employed. Most people when they leave their job and they become self employed actually make less money, unfortunately. And according to Gallup, the 50th percentile make $34,000. You also don't have a lot of the social benefit programs like Social Security and unemployment. It' actually statistically going to increase the widening gap between the poor and the rich. Oh, and by the way, that widening gap between the rich and poor is also going to increase the notion that we need to increase taxes. And it's not to fight the trend or say it's bad or say that people are soft. We should be focusing on how can we make our places of work and our businesses a place where self employment is actually something that can be felt without all the downside risks financially that so many people are taking.
