1099-versus-W2-bait-and-switch

During the 2008 financial crisis, I applied for a contract job in the field of software development.
I was presented with the contract on this page to sign.
The pay rate offered was below the bottom of the range that was advertised.
To the best of my memory, the job was advertised as being W2, however the contract that was presented to me made it clear that the position would be on a 1099 basis.

Social Security Tax

When you work a W2 position, roughly 7.5% of your earnings come off the top and go to Social Security taxes.
That means that the offered rate was not merely lower than advertised rate, it was approximately 7.5% lowered than the offered rate.

Problematic Language

The company could fire me at any time but I could not quit at any time.
The company could compel me to do additional work at no additional charge up to a year later.

Hire A Lawyer?

When you are signing a contract, you should make sure that you understand it.
You should consult a lawyer if needed.
In the case of the contract below, why or why not would it have made sense to consult a lawyer?
In this particular case, it would not made sense to hire a lawyer to review the contract.
The terms were so bad that the only thing to do was decline.
I could have spent money hiring an employment lawyer to review the contract, but the company would have just offered the position to some other person.
I would have wasted whatever I had paid a lawyer.
I declined the position.
If the organization thinks that you are sufficiently naive, its representative might say something such as:
"We understand your concerns.
Since you need work, why don't you sign the agreement that we provided for now, then we will consider drafting a new contract that takes into account your concerns later."
In such cases, imagine the voice of Morgan Freeman saying:
"They did not draft a new contract later."

Responding With Profanity?

When presented with a contract such as the one on this web page, you may feel the need to respond with profanity.
Doing so achieves nothing.
The people that presented you with the contract may have awarded themselves bonuses with the expectation you would be doing the work for free.
If you are unwilling to cooperate with the plan by, they will be looking for any excuse so say that this was your fault.
Using profanity may be the excuse that they are looking for you.
In a temporal causality loop worthy of any Star Trek series, your replying with profanity justified the company's goal of trying to socially engineer you into signing a bad contract.

How Is An Exploitive Contract Like a Foodie Call?

Long ago, I had an unfortunate interest in using dating websites to meet women.
The people who contacted me almost always fit into one of the following categories:

Hopefully it is easy for people to understand that they should avoid contact with people in the first 2 categories.
What was more challenging for me to understand were "Foodie Calls".
I could open a web browser, create a profile, and sometimes instantly actual women would initiate contact.
They would indicate that they wanted to meet me in the very near future.
Initially, I did not understand that these contacts were "Foodie Calls".
They wanted to meet me in order for me to buy them food and/or entertainment.
After a few iterations, I thought that I had opened my eyes and set my expectations accordingly, but in reality, I had not.
I continued to go on those encounters with the idea that while yes, these women had agreed to meet me with the goal of me buying experiences for them, I could "somehow" turn a Foodie Call into something more meaningful.
I was mistaken.
A contact that began as a foodie call could likely only remain a Foodie Call.
By the same token, when you are presented with an exploitive work contract, you should simply move on.

Complete Agreement

Below is the complete agreement, with company and personal information removed.
In the complete agreement below, I added a yellow background to the snippets from the "Problematic Language" section of this page.