If you're a skilled Ruby on Rails programmer, you can get well over $20/hr as a remote contractor. It might take some time to build up to the higher pay rates, but it's certainly doable, and you can probably make decent money along the way as you develop your skills. You could try sites like ODesk and Elance on your own, but you should also consider joining an "offshoring" firm as an employee to learn more about the business and develop your skills.

Caveat: being a successful contractor requires more than good programming skills. You also need to be an effective communicator, find clients, plan and manage projects, etc.