This California Law Is Ripping Away American Dreams. The Left Wants to Take It Nationwide

[asher]

what's the title of the book?

 

[toolbelt]

You are free to choose then.

1. You could choose to report the employer to the state (they love busting employers who violate these rules).
2. You could choose to remain there while you look for another w2 job.
3. You could choose to quit and work a gig of some kind during the transition to another w2 job.
4. You could choose to quit and start your own business.

You don't need government for most things. This is a scenario where that's especially true.

So it's ok if you're loyal to your company, and they're not loyal in return? And even if you helped build that company, they can simply reclassify your employment status? By that measure, its ok if a company just decides to close leaving shareholders empty-handed?

 

[DHK]

what's the title of the book?

Rich Dad Poor Dad's Cashflow Quadrant. I put an Amazon link there, but I understand if it doesn't show up.

 

[suranceman]

So it's ok if you're loyal to your company, and they're not loyal in return? And even if you helped build that company, they can simply reclassify your employment status? By that measure, its ok if a company just decides to close leaving shareholders empty-handed?

Yes it is okay if the company is not loyal. There is no law requiring "loyalty". Obviously, if this happened, it would be sad.

Plus, when you're employed by someone else, you take the risk of this happening. That's part of the deal when you have a job.

Want to ensure nobody can fire you, change your status or reduce your benefits? Work for yourself then. But if you want the benefits of a w2 job, it also comes with the risk of things like this happening.

Only in the leftist utopia does bad stuff not happen. News flash, that's impossible. There will always be bad apples. Just because there are bad apples does not mean we need to start creating laws that hurt far more than they help.

And you know what, in this example the person still has choices!

 

[DHK]

So it's ok if you're loyal to your company, and they're not loyal in return? And even if you helped build that company, they can simply reclassify your employment status? By that measure, its ok if a company just decides to close leaving shareholders empty-handed?

Loyalty is great... but that also falls under the "trust but verify" and remembering that you agreed to your employment status with every payroll period.

If you helped build that company, you may be eligible (but not entitled) to stock options, etc.

There's an order of liquidation and creditor priority when closing a business, so I wouldn't necessarily assume that shareholders would be left empty-handed.

Which Creditors Are Paid First in a Liquidation?

 

[Markthebroker]

This California Law Is Ripping Away American Dreams. The Left Wants to Take It Nationwide. - AMAC - The Association of Mature American Citizens

Uncertain of AB5’s new terms, companies now view independent contractors as a risk.

Is this affecting any CA insurance agents?

I had to setup an LLC, since the actual application of this is still murky. Unfortunately things like this are mostly set by precedent, so no one is very clear on it. Me personally, it's costing roughly an extra $1,000 a year, so it's no big deal for me.

Honestly, for the most part, I am a fan of this new law. If you can't work as an independent contractor, go setup a business entity. It's a relatively small cost. The fact that it's destroying the american dream is media nonsense in my opinion.

There are a lot of people working part time and gig jobs that don't understand what their costs are, and what their actual net income is, which in many cases is below minimum wage. Many rideshare drivers make less than minimum wage, doing a terribly dangerous job (driving) but think they are making much more. That's one of the reasons these gig jobs are marketed for part time, because if you aren't relying on it as your sole source of income, it's easier to lose track of how much or little you make per hour. Large companies like Lyft and Uber profit by taking advantage of people like this, or, one could argue, by these people letting themselves be taken advantage of.

I have yet to meet someone working a gig job that actually understands what their net per hour income is, it always involves fuzzy math involving numbers they've never reviewed.

 

[toolbelt]

Just because there are bad apples does not mean we need to start creating laws that hurt far more than they help.

Well assuming there are more employees than business owners, isn't that a bit of a contradiction?

 

[JONATHAN B SPARKS]

Want to ensure nobody can fire you, change your status or reduce your benefits?

Or, make yourself indispensable or, at least, very valuable.

 

[toolbelt]

Rich Dad Poor Dad's Cashflow Quadrant. I put an Amazon link there, but I understand if it doesn't show up.

Robert Kiyosaki was a failed Amway rep who discovered selling books to a captive MLM audience was far more lucrative. The characters in his book are pure fiction. His financial background is spotty at best.

 

[toolbelt]

Or, make yourself indispensable or, at least, very valuable.

Easier said than done. And not easy working under conditions where you can be replaced for the latest flavor of the month at any time. There has to be a balance point within those extremes.