Strypey on Nostr: If they're lucky enough to get paid for 6 hours of work every week, all year, at the ...
If they're lucky enough to get paid for 6 hours of work every week, all year, at the Living Wage ($26 per hour), that's roughly $8000 a year. Pushing their annual income to $52,000. So $4000 of that income is pushed into the third tax bracket. Their effective tax rate on that income, including student loan tax, is 42%.
Any week in which they work more than 6 hours at Living Wage, WINZ takes 33% of it off their benefit. Their effective tax rate for those extra hours is 75%.
(6/?)
Published at
2023-05-20 04:06:27Event JSON
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"content": "If they're lucky enough to get paid for 6 hours of work every week, all year, at the Living Wage ($26 per hour), that's roughly $8000 a year. Pushing their annual income to $52,000. So $4000 of that income is pushed into the third tax bracket. Their effective tax rate on that income, including student loan tax, is 42%.\n\nAny week in which they work more than 6 hours at Living Wage, WINZ takes 33% of it off their benefit. Their effective tax rate for those extra hours is 75%.\n\n(6/?)",
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