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Politics : View from the Center and Left

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To: TimF who wrote (10099)	1/27/2006 8:58:27 PM
From: neolib	Read Replies (2) of 542171

The basketball star's basketball wages will eventually end. Marketing opportunities might not end at death but that is a special case. Most wage earners don't have those marketing opportunities. Yes, correct in the technical definition of wage per the IRS I guess. I have never understood the distinction, or why it exists, between income subject to SS tax vs. not. If I punch a time clock working for someone else it is definitely "wages" I receive. If I'm paid above a certain amount, or the company choose to call the compensation something else (think "allowance for X" or stock options, etc) then it may or may not be wages. If one is self employed it becomes more nebulous, and may depend on meeting a long list of requirements designed to enhance SS tax collection. If a self employed individual incorporates and chooses either S or C corporate structure one can muddy the waters further. So the distinction between wage and income is far from clear, and income can most certainly continue after death, with our tax laws requiring the money to be assigned to either an individual or in certain states animals, or any one of a number of other financial instruments.

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