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To: Katelew who wrote (60190)4/19/2008 11:11:46 PM
From: Lane3  Respond to of 542970
 
I tracked down legislation that seems to be what you're talking about. “Tax Reduction and Reform Act of 2007” (H.R. 3970).

The surcharge is as a replacement for the AMT, not to reduce the debt.



To: Katelew who wrote (60190)4/19/2008 11:32:21 PM
From: Lane3  Respond to of 542970
 
From answers.co.

FWIW Looks like you were using an economics term of art and I was using common parlance.

Wages

#1 Payment for labor or services to a worker, especially remuneration on an hourly, daily, or weekly basis or by the piece.
#2 wages Economics. The portion of the national product that represents the aggregate paid for all contributing labor and services as distinguished from the portion retained by management or reinvested in capital goods.



To: Katelew who wrote (60190)4/20/2008 1:09:50 PM
From: Lane3  Respond to of 542970
 
Wages....as in a W2....which is a record of wages. One can get nice big fat W2s or little puny ones, LOL.

Salaried compensation is a relatively new notion. I suspect that when the IRS originally created its forms that people worked for wages and only later did salaries become common.