Why is the 1099 Tax rate so high?
I probably should be directing this question to my member of Congress (actually, I did write my Congressman, and if I get an answer, I'll post it up here... ), but...
Is there any particular reason why the Feds have decided that 1099-Misc income should be taxed at a rate around 37.7%... or am I doing something wrong with my Schedule C? And no, my normal income tax rate is nowhere NEAR 37.7%. :mad: (Don't I wish I made that much money- so much for helping out small business owners!)
Obviously this isn't incredibly time sensitive - I would just like some information... if anyone knows.