Not sure how realistic that is or sustainable but it proves a point.
Originally Posted by SpiceItUp
Sorry Spice, not to take offense, but I disagree with your math, as business expenses are entirely left out, which omission renders your algebra equation, and conclusion, invalid. Thus, any self-employed business person is simply just going to smile at you. Note that although the links you present are to valid data, that data pertains to income after business expenses.
What any self-employed person actually takes home is the "net" after business expenses. For example:
Phones, computer, other office expenses, publication/photo and advertising costs, travel, travel meals, airplane, cab or rental car costs, luggage replacement, other rental costs, insurance, professional equipment and attire, legal and other professional fees or retainer, hometown transportation costs, and the list goes on.
And if there's a bit of travel, in addition to travel itself, then there's also child care, pet sitting, security alarm service, and more, which although not business expenses, are still out of pocket.
And last, self employment taxes.
I have several soap boxes to stand upon, verbal/written or hand built. This is one of my favorites.