The gross estate for federal estate tax purposes often includes more property than that included in the probate estate under the property laws of the state in which the decedent lived at the time of death.
The falling minimum wage has led to poverty and inequality. Today, at the federal minimum wage of $7.25 per hour, working 40 hours per week, 52 weeks per year yields an annual income of only $15,080. As shown in the figure, this is below the federal poverty line for families of two or more.f the federal minimum wage were raised to $10.10 per hour, as Sen. Tom Harkin (D-Iowa) and Rep. George Miller (D-Calif.) have proposed (depicted by the dotted line), it would bring a minimum-wage income back above the poverty line for a family of three.
For instance, if this worker makes $1,000 per week under her employment agreement, her annual salary would be $52,000 per year, as there are 52 weeks in a year. While the annual salary represents a floor for an employee's wages, gross pay can exceed that level.For instance, if an employee is paid an annual salary of $23,000 per year, but he is eligible for, and works, $5,000 worth of overtime, his gross pay will be $28,000 -- more than his salary.But while every employee who is paid earns gross pay, not every employee earns a salary.or instance, if this worker makes $1,000 per week under her employment agreement, her annual salary would be $52,000 per year, as there are 52 weeks in a year. While the annual salary represents a floor for an employee's wages, gross pay can exceed that level.