For a huge part of the public, the only thing hitting the bank account is the slim pickings of a paycheck AFTER TAXES have been already paid.
For a huge part of the public, the only thing hitting the bank account is the slim pickings of a paycheck AFTER TAXES have been already paid.
~~~
If you make $15/hour, and you didn’t have anything withheld, your paycheck for a 40 hour week would be exactly $600
This doesn’t seem like a coincidence to me, considering that’s what liberals wanted for a long time to bump the minimum wage up to.
I think it’s more salary people, but even many hourly people get paid bi-weekly or twice monthly. That means even someone making $10/hour and all the payroll withholding will still go over the $600 threshold.
HOWEVER... If you are not a documented citizen, and you can find work under the table, you’re probably getting cash and you’re getting each day, or once a week or less. Since you’re getting cash, it’s unlikely you’ll be depositing a whole week’s pay.
Seems to me they don’t want the IRS to find all of the illicit under the table labor with this threshold.