alan1
Gold Member
Im just kind of curious if the underground (or hidden) economy is suffering from the recession?
For example, Ive got a neighbor that mows my yard. Hes semi-retired, and I pay him in cash. He also mows other yards in the neighborhood. I know he doesnt declare that income on his taxes.
Another example, my daughter has a fulltime job but she also does photography. Some portraits, a wedding now and then, some boudoir stuff for women that want to give something special to their husbands. She doesnt declare that stuff on her taxes.
Its a hidden bit of economic activity that is occurring.
So far, my neighbor is still getting paid by me, so far my daughter is still doing her photography on the side, neither of them has taken a pay cut or unemployment status from their jobs hidden from the economy. But this is just a limited example that I have some knowledge about and I dont know that it is representative of the underground economy at large.
Then, we have the illegal drug business. Are those guys losing sales or making less money? I dont want to dig too deep into that, but I am curious about it.
What about people that are officially unemployed? How many of them are now doing things like mowing somebodys yard, fixing the neighbors computer, cleaning houses, or some other random jobs (paid in cash and under the table) while they still collect an unemployment check?
I suspect the underground economy (undeclared income) is probably growing right now. Little things like the guy that used to build tract homes is now doing side jobs under the table for his neighbors, you know, building a deck or re-tiling a floor. I could give a lot of other examples, but Im sure you can think of your own.
Anybody have any information, ideas, or thoughts about how the underground economy is doing right now?
For example, Ive got a neighbor that mows my yard. Hes semi-retired, and I pay him in cash. He also mows other yards in the neighborhood. I know he doesnt declare that income on his taxes.
Another example, my daughter has a fulltime job but she also does photography. Some portraits, a wedding now and then, some boudoir stuff for women that want to give something special to their husbands. She doesnt declare that stuff on her taxes.
Its a hidden bit of economic activity that is occurring.
So far, my neighbor is still getting paid by me, so far my daughter is still doing her photography on the side, neither of them has taken a pay cut or unemployment status from their jobs hidden from the economy. But this is just a limited example that I have some knowledge about and I dont know that it is representative of the underground economy at large.
Then, we have the illegal drug business. Are those guys losing sales or making less money? I dont want to dig too deep into that, but I am curious about it.
What about people that are officially unemployed? How many of them are now doing things like mowing somebodys yard, fixing the neighbors computer, cleaning houses, or some other random jobs (paid in cash and under the table) while they still collect an unemployment check?
I suspect the underground economy (undeclared income) is probably growing right now. Little things like the guy that used to build tract homes is now doing side jobs under the table for his neighbors, you know, building a deck or re-tiling a floor. I could give a lot of other examples, but Im sure you can think of your own.
Anybody have any information, ideas, or thoughts about how the underground economy is doing right now?