It is said that 40% of Americans will be freelancers (independent contractors) by the year 2020. Think about how many Americans will be working, with no time and a half come 2020. In 2013, Forbes reported that one in five Americans work from home. Imagine how many of those Americans are independent contractors. Could you possibly be one, doing more work, for less pay?

I have been an independent contractor for over four years now. I started working as an independent contractor for different Fortune 500 and 100 companies at the age of 18. With being an independent contractor, you have so many different responsibilities, that the employed could never imagine. Yes, there are perks to being employed (401k, Roth IRAs, healthcare, overtime, etc.), but there is really no freedom when it comes to such a thing, which is why I chose to work as an independent contractor.

The problem is, I have noticed that my whole time working as an independent contractor, there have been times where I have worked weekly, over 70-120 (yes, over 17 hours a day some weeks) hours, and have received the same pay rate for doing so. How livid would you be, as an employee, if you worked even an hour over 40, and didn't receive the time and a half for that one hour? You would feel cheated, right? In addition to this, once tax season comes, I have the burden of covering the full tax rate, as opposed to just half (please see the bottom of this for an explanation).

If I had time and a half, I would not work as much as I do, because time and a half would take care of a lot of my expenses, without having to break my back. When working as an independent contractor, I literally only get paid for every minute that I work. I have a B.S. degree, M.B.S. degree, and am currently working on my D.B.A. I have been working this long, and this hard, to support myself while I am in school. I would have more time to study, and would work less, if I had time and a half, as an independent contractor. 

In addition to having to pay the full tax rate, and to having no time and a half, I also have to report my income in the Home and Business edition of the software that I use to prepare my taxes every year. Now, that within itself is just highway robbery. If you don't help make a change now, you may be in the same boat as me come 2020, or you may know someone who will be in the same predicament as me come 2020. It would be a shame for you to work all these hours at the same pay rate (think about how I feel). Help make a change, America! Help. Visit youdecideamerica.org for more on the fight for human rights.

Employee Tax Rate: The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total (IRS.gov). 

Self-Employment Tax Rate: For self-employment income earned in 2013 and 2014, the self-employment tax rate is 15.3%. The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance) (IRS.gov).