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What is the ‘Gig Economy’ and Who Works In It?
by Causes
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  • jimK
    10/25/2019
    ···

    I have not worked a gig job. I see this whole thing as a way for employers to avoid paying better wages, avoiding employer payroll taxes and for employees to avoid paying FICA taxes. I can certainly understand why this is beneficial to employers and even to 'employees' who need this flexibility to make ends meet. However, there is a price to pay. If 'employees' do not contribute to FICA taxes for at least 40 quarters, they will not be eligible for social security benefits. If they are made eligible by a law change then all those folks who dutifully paid their FICA taxes over a working lifetime should at least be recompensed. I think that gig jobs in general need to be re-evaluated based upon the long-term impact to 'employee' benefits, loss of FICA deposits, and the abilities of employers and 'employees' alike to 'hide' taxable revenue. I think it would be better in the long term to formally hire gig employees for flexible work assignments and assure that a realistic wage applies.

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