Comment: I've been in the financial industry for over 20 years. During this period of time I've notice a trend that really bothers me. I work on commission but I'm a w'2 employee. I make fairly good income and I pay a hefty amount of my income to the IRS. I've come to the conclusion that our tax code is extremely unfair to the W'2 wage earner verses the self employed and work for cash. Time after time after time I've had customers who are self employed come in to qualify for a home mortgage. Once they tell me that they are self employed, I ask to see their tax returns. When I tell them that to qualify for a conventional, VA or FHA loan I have to go off their net adjusted gross income predominately 9 out of ten times they say the same thing and have the same look on their face. They emphasize that they're self employed so they only show limited income , usually between $12,000 and 22,000 net adjusted. This way they keep their taxes down according to their accountants but they bring in between $100,000 plus a year so they can afford that $200,000 plus home down the street. These people pay little if any taxes but that's o.K.. because they're self employed.......I really don't see the fairness in this. They also have never been audited ( but I have).....Where is the fairness. If you really want to make the tax system fairer then you need to address this disparity. If it means a sales tax instead then so be it. At least all of us would be paying then. This self employed underground society is so unfair The other underground employed society are the people that work for cash under the table. There's a Hugh amount of people who do that but once again they don't pay taxes on there money Sincerely, Susan |