Re: Help with a Minimum Wage Model

From: Damien Sullivan (phoenix@ugcs.caltech.edu)
Date: Mon Apr 07 2003 - 15:14:17 MDT

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    On Sun, Apr 06, 2003 at 06:54:09PM -0700, Charles Hixson wrote:

    > >### People living on minimum wages do not pay direct taxes.

    > I don't have any direct experience, but I seem to remember that anyone
    > earning more than $750 a year had to pay income tax. And I know that in

    File taxes, probably. For federal income tax there's a total of $7700 in
    deductions this year (stadard deduction plus personal exemption) so if you
    earn less than that you won't pay federal income tax. You will still have
    paid payroll taxes, though.

    -xx- Damien X-)



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