day 59\nwhen you get paid from an employer, almost 30% of your pay is probably being deducted.\nwhere do you…

day 59\nwhen you get paid from an employer, almost 30% of your pay is probably being deducted.\nwhere do you think the 30% is going?\nday 60\nwhy do you think the federal and state government collect taxes from citizens wages?\nday 61\nread the sample paycheck below and answer the questions.\nas of 2021, the federal minimum wage is $7.25 per hour. states have their own minimum wage laws that increase that number. do you think that $7.25 an hour is a livable wage? what is the minimum wage rate in your state?\n• what are the gross wages?\n• how much is deducted for fica ss tax?\n• how much is deducted for federal tax?\n• how much is deducted for state tax? (california is the example).\n• what is the net pay?\ngross wages is the amount the person earned by working. net pay is how much money they get to keep.

day 59\nwhen you get paid from an employer, almost 30% of your pay is probably being deducted.\nwhere do you think the 30% is going?\nday 60\nwhy do you think the federal and state government collect taxes from citizens wages?\nday 61\nread the sample paycheck below and answer the questions.\nas of 2021, the federal minimum wage is $7.25 per hour. states have their own minimum wage laws that increase that number. do you think that $7.25 an hour is a livable wage? what is the minimum wage rate in your state?\n• what are the gross wages?\n• how much is deducted for fica ss tax?\n• how much is deducted for federal tax?\n• how much is deducted for state tax? (california is the example).\n• what is the net pay?\ngross wages is the amount the person earned by working. net pay is how much money they get to keep.

Answer

Brief Explanations:

For Day 59: Common deductions include taxes (federal, state, local), social - security, and Medicare. For Day 60: Governments collect taxes to fund public services like education, healthcare, infrastructure, and defense. For Day 61: By reading the paycheck, we can identify the amounts. Gross wages are the pre - deduction amount. FICA SS tax, federal tax, and state tax are listed as deductions. Net pay is gross wages minus all deductions. For Day 62: Opinions on a livable wage vary based on cost of living. State minimum wage rates differ.

Answer:

Day 59: Possible deductions are taxes (federal, state, local), FICA (Social Security and Medicare). Day 60: To fund public services and government operations. Day 61: Gross wages: $1000.00; FICA SS tax deduction: $62.00; Federal tax deduction: $108.50; State tax (California example) deduction: $44.25; Net pay: $785.25 Day 62: Whether $7.25 is a livable wage depends on cost - of - living. State minimum wage rates vary by state.