I'm currently self-employed and learned recently from someone else in business for himself that I can incorporate as an S corporation and get out of paying Social Security.
When you're self-employed, you ordinarily have to pay double, because you are the employer matching your own funds. This is usually about $4,000 a year for me, and it's usually a larger amount than I actually have to pay in federal income tax. I've been paying this double amount for the past fifteen years.
At first I was excited and eager to get out of paying all that money. But on second thought, if I support the program because it's a safety net for the elderly and the disabled (whose numbers I will belong to one day), should I continue to pay in my fair share? If I don't, wouldn't that make me a hypocrite for being against Bush's privatization ideas yet not supporting the program with my own money?
It's a real dilemma, because I'd sure like not to have to shell out that $4,000 each year. I've decided that if Bush's plan passes, I'll definitely incorporate and not pay another cent to his program. But if it doesn't, what do Kossacks think I should do?