Spinoff: is there a difference between wages and income

Wages would typically come from a job.

Income can come from multiple sources (job, rental property, gifts, etc)

All I got

Wages are what you earn. Income is what they pay you.

quote:

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difference between wages and income

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taxes

Thanks for the replies, upgrayyed, go frick ya’self.

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You could just call your dad later to ask him what he meant...

Wage: Salary

Income: total $ brought in. (investments. rental properties, ect)

Think of it like this:

Wage is just a piece of overall compensation. In economic terms, your healthcare benefits, your 401k matching, your company's daycare, your vacation days, etc., etc. are all considered interchangeable with wages. There is an economic cost to the company for all of it.

Total compensation has actually been rising in real terms about as much as productivity growth over the last thirty years, but healthcare (especially) and other benefits have been eating up virtually all the gains. That's, mostly but not entirely, why wages have remained flat.

Overall income includes not just your total compensation from your company but any realized gains in equity you hold, realized gains from real estate, income from Social Security, etc., etc.

STFU