Health care reform & entrepreneurialship


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bigfincat is offline bigfincat Post #1  May 14,2009, 9:47am
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A huge percentage of the population is trapped within the confines of corporate America. Families need the benefits packages that are included with full-time employment in large companies.

The more accessible those benefits are to the general public the more people will have the freedom to shape their own careers as they see fit.

This will bring about much more self-employment & tiny small businesses. Larger small business may have to restructure but they should be able to find ways to adapt to new tax structures. A good accountant will be invaluable in that regard.

I think that corporations have too much power so I like when the working class is given more opportunity to achieve personal freedom in their lives.

I guarantee that subcontracting will explode due to the changes that Obama is making. That is a huge positive IMO.

Being able to create your own schedule is very, very freeing.
 
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bigfincat is offline bigfincat Post #2  May 14,2009, 9:49am
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Ask some people that used to work for corporations that have now become "consultants" how much more free they feel.
 
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jamesp81 is offline jamesp81 Post #3  May 14,2009, 10:17am
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bigfincat wrote :
Ask some people that used to work for corporations that have now become "consultants" how much more free they feel.
Having options is always a good thing, although I don't see Obama's reforms increasing subcontracting activity. His reforms and monetary policy are going to further drag down the economy which will reduce all economic activity...including freelancing and subcontracting.

I've heard two sides of the consultant story too. I'm in an industry where either a 9-5 job or a freelance career are commonplace. Freelancing is good for some and not for others. It's good for people who don't like structured work environments and like setting their own schedules. It's not good for people who don't like to travel or, because of a family situation, find travel difficult. Freelancers in my line of work also tend to lonewolves, generally living single lives or, at best, having a lady friend at their regular 'ports of call' if you will. Freelancing / consulting is only good for people who love their job every minute of every day.
 
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bigfincat is offline bigfincat Post #4  May 14,2009, 10:47am
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I suppose the freedoms allowed depend on the industry & the nature of the work itself.

No matter what your position, corporations have to lowball you as far as compensation goes so it is likely that you would make more money for the same amount of work.

I do agree that personality does play a role here. So, what is fair?? A system that favors someone that needs stability & structure or one that does not. Neither is more fair than the other.

I would rather have the individual freedom to structure my own life & career. You can structure your own business to only include the hours of 9 to 5 if that is what you want. You don't need to be available all of the time. That totally depends on your ability to set boundaries for yourself.

Changes will benefit some incredibly & likely leave others needing to make adjustments.

Another added benefit would be more mothers could stay home with children instead of working full-time to get benefits for the family.

Many people choose work that pays a lousy wage if the added benefits make it worthwhile. If they had another great avenue to acquire benefits, then they could take the risks that could further their career greatly.

I know that you can purchase private insurance now but it is pricy to get equal coverage that is offered by employer based insurance plans.

I think that risk taking is a good thing & more people will do so knowing that their families are covered. With greater risk comes greater reward.

It should be fun to see how it all plays out.
 
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Rand_011 is offline Rand_011 Post #5  May 14,2009, 1:56pm
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If one wants to freelance they are more than welcome to ... But they won't get the benefits of being in a large corporation and having benefits paid for ...

The benefits offered through most companies are not well though out benefit structures ... A plan with a copay for physician services and medication is common in just about every plan ... But requiring that it have a low deductible for major services is just plain inefficient ... Plan A with a 2500 deductible costs 200/month ... Plan B with a 250 deductible costs 400/month ... Many companies haven't quite seen the light yet that they are just wasting money ... But then the same thing happens with individual plans.
 
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neardc is offline neardc Post #6  May 14,2009, 10:21pm
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bigfincat wrote :
Ask some people that used to work for corporations that have now become "consultants" how much more free they feel.
I've worked as a consultant for the last decade and enjoy it for just the reasons that you've noted. I've loved the flexibility of being my own boss, of setting my own hours, of doing work that I like, of working more or working less as I choose.... There are no formal benefits (vacation, retirement), so you have to build those in, but the tradeoffs have been more than worth it to me. The only thing that I don't like is having to deal with administrative details like taxes, but that's not really such a big deal either.

About a year and a half ago one of my clients persuaded me to come on staff part-time with them, so I'm now doing that as well (i.e., along with my consulting). Since I still work from home for that job it hasn't changed my lifestyle much, though (while giving me health insurance and retirement benefits -- a huge bonus!).

It's definitely the case that not everyone takes to this kind of self-employment, but it would take a really, really, really special (and high paying) job to tempt me back into the full-time workplace. For many others, though, the lack of a stable and predictible income (along with the high cost of paying for one's own health insurance) is a deal breaker.
 
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saulgoode is offline saulgoode Post #7  May 15,2009, 10:10am
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This was the whole argument behind social security. All-for-one, and let the next generation deal with it. And it will eventually fail and we'll see another financial collapse.

The same logic applies to federal healthcare. It won't be free -- you'll pay for it as a tax, same as FICA (social security), and it will likely be higher than what you're already paying through your company.

Plus, tack on the fact that individuals making over $100,000 will not only be severely taxed, but they will further not have access to healthcare.

So, if you're freelancing, and doing well at it, and banking over $100,000, you'll pay for someone else's healthcare, via tax, as well as your own private healthcare. The net benefit will be a loss for you.

Furthermore, your private health care taxes, if you're an employer, or if you're earning over $100,000, will no longer be tax-deductible!

As with any social welfare program, it is in your best interest to earn less money, work fewer hours, and qualify for more government programs.

I realized this was true in college. I had Pell grants and a TX resident grant my first year, didn't have to take out any loans, didn't have to work.

Then I went to work that summer, and the gov't yanked my funding! If I had stayed home that summer, slept, and mooched off my folks, I never would have needed to start taking out all those student loans, or go to work after class that night.

I guess I'm not very welfare-savvy. That's God's truth. As soon as I filed a 1099, all my college funding got yanked.

Work less, earn more. It's the American way.

- Saul
 
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