I've never seen anything close to $150/hr -- I'd jump on that if I did. $63-$80/hr is actually about what I'm seeing, which is less than I'd made from my last FTE gig (I have 16 yoe, mind you). When you consider those rates don't include PTO and benefits, it's even worse.

Contracting is the thing you do when you're between permanent jobs and you do it because it pays better than slinging coffee and keeps your resume current.

contracting is being in business for yourself which means you need to learn how to sell and negotiate. if you don’t do that then yes, you will work for a low rate.

That's 130,000-150,000 annually if you clock 40 hours 5 days a week, not hourly.

I don't know in what universe you think $150 per hour is low, I've never seen anything near that rate. Maybe for highly specialized work but not any general purpose development.

cost of living in US metros is extremely high. and you need to pay for the cost of being self employed.

150k is still a great wage in most major US metros. The bay is expensive, but this is still a top-10% compensation package compared to the general population.

150/hr would be great in europe, and companies do pay it, not to individual contractors, but to other companies