Why do they tax the minimum wage? I mean its already minimum earnings. I belive govt. should have minimum wage which can be tax free (a sustainable standard of living) - and all earning above that should be charged at slab level.
What do you THINK?
2006-10-10 17:14:58 · 10 answers · asked by AMAZING 1 in Business & Finance ➔ Taxes ➔ United States
Minimum wage should only be what a person can afford to live - so there is no point in taxing them. But then, how can government earn their money and rotate the cash. So if the minimum wage $10 a hr - and you can live happily and sustain yourself and your family for $8 an hr - govt has to take atleast $1 or $2 from your money. If you just get directly $8 an hr - the only person who benefits is your employer. Neither you nor the government.
A better way to save tax is to have a limited company formed and then get you consultancy fees in there - you can claim back few of the taxes and it is completeley legal.
2006-10-11 03:02:59 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I would believe that you are correct. In a way it is. I bet a majority on minimum wage workers are at student status with there filling for taxes and in a way they are not being charged. I come from the state of Indiana and here if you have a student status and gross under a certain income within that year you get all of your state tax back and very little taxes get taken out by federal.
2006-10-10 18:36:33 · answer #2 · answered by Anonymous · 0⤊ 0⤋
After subtracting the standard deduction, personal exemptions and EIC (earned income credit), minimum wage isn't taxed.
2006-10-10 21:30:48 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
I think that taxing people who make minimum wage should be at a minimal. These people don't have enough to make a living.
2006-10-10 17:19:16 · answer #4 · answered by caltam84 3 · 0⤊ 1⤋
Why should a minimum wage employee get a free ride. He or she gets the same benefits(Ha (-:))from government that we all get. He or she should have to pay her/his fair share.. Just like the rest of us.. There should be no free rides.. else it is socialism.
Just my 2 cents.
2006-10-10 17:18:49 · answer #5 · answered by DrK 4 · 0⤊ 0⤋
the 1st guy or woman isn't smart, they of course dont understand states have the flexibility to make sure min salary and here its 7.ninety 5 at the instant. we did those days bypass a regulation nevertheless that each and each 12 months close to jan 1st the min salary will enhance as value of living will enhance that's remarkable. =)
2016-12-08 12:37:25 · answer #6 · answered by casco 4 · 0⤊ 0⤋
I think immigrants should pay double taxes. That might help with the deficit we have. I also think there ought to be a cap on how much gov't officials make--nationaly. Also welfare ought to be done away with----since most of the poeple who are on it are illegals--or non US citizens.
2006-10-10 17:27:24 · answer #7 · answered by itsjustme_erin 3 · 0⤊ 2⤋
How bout no taxes on the first fifty thousand? That's what I'm talking about!! We should all be sick of this crap!!
2006-10-10 17:17:31 · answer #8 · answered by scottyurb 5 · 0⤊ 1⤋
well most get all the money back anyway that are minum wage and most who are getting minum wage are students anyway so they get all the money back.
2006-10-10 17:18:38 · answer #9 · answered by knowssignlanguage 6 · 0⤊ 1⤋
AMAZIN for press.!!!
2006-10-10 17:24:56 · answer #10 · answered by Anonymous · 0⤊ 1⤋