Quick Question on the Stimulus Package

[oldtime dfl_er]

I kind of feel like Dorothy in The Wizard of Oz...there's nothing in that black bag for me...as a single, childless self employed female who doesn't own a car or a home, is not going to school, is not on unemployment or welfare....my biggest burden has always been the 25-30% income tax I have to pay on my self-employment income (which isn't that much to begin with). After that tax burden has been met, I barely make povery wages.

I'm all for the stimulus package. But does anyone happen to know if it does anything for the self-employed?

[sandnsea]

1. As another self-employed person

I don't think so, unless you are at low enough income to qualify for some EIC. Or maybe use the program to make a down payment on a house, or some refundable college credits.

I hope people have some money to spend and the economy starts to rebound.

[Coexist]

2. hopefully - those who do get direct help will now be able to afford the services you offer

thats how it is designed to work

Woman in construction field gets stimulus related job
She sees its a 2 year project.
She feels she has a secure job.
She buys jr. a pair of jeans.
She re-hires a personal trainer once a month.
She takes the family out to local restaurant once a month.
She pays income taxes (paying back the govt!)
She hires someone to paint her badly peeling home.

Store she purchased jeans in sees more sales, hires a few more associates.
Personal Trainer hires accountant to help straighten out the mess he's made of his accounting since he had to do w/o due to lack of clients.
Restaurant doesn't have to shut its doors, because business is getting better - paying payroll taxes, their mortgage, buying more food to prepare/sell.
Painter can keep her doors open, re-hires an assistant, pays payroll taxes.

New associate can make mortgage payment, buys pizza once a week.
Accountant buys new car he's needed for ages but couldn't afford
Food distributer can hire more staff
Painter assistant doesn't have default on student loan.

Pizzeria stays open
Car dealership salesperson can pay for that dental work she's needed
Staff is able to buy cool t-shirts

Dentist can make mortgage payment.


See?