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So it may be out of date at times. See date on table at source. [7] The federal minimum wage applies in states with no state minimum wage or a minimum wage lower than the federal rate (column titled "No state MW or state MW is lower than $7.25."). Some of the state rates below are higher than the rate on the main table above.
The federal minimum wage was introduced in 1938 at the rate of 25¢ per hour (equivalent to $5.19 in 2022). [76] [5] By 1950 the minimum wage had risen to 75¢ per hour. [81] [5] The purchasing power of the federal minimum wage has fluctuated; it was highest in February 1968, when it was $1.60 per hour.
If American women earned minimum wage for their unpaid labor around the house (for roughly four hours of work a day), they would have made $1.5 trillion, according to a New York Times calculation.
The remaining 29 percent were paid under other systems such as the Federal Wage System (WG, for federal blue-collar civilian employees), the Senior Executive Service and the Executive Schedule for high-ranking federal employees, and other unique pay schedules used by some agencies such as the United States Securities and Exchange Commission and ...
The minimum wage is approximately 25% over the official U.S. government-designated poverty income level for a single person unit (before taxes) and about 63% of the designated poverty level for a family of four, assuming only one worker (before taxes). (See Poverty in the United States). Annual wages of $30,160; $45,240; $75,400; $150,800 and ...
Taxpayers over 55 were once allowed a one-time $125,000 in capital gains exemption for selling their home, known as the over-55 rule, but that rule was phased out in 1997.
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.
The United States federal government requires a wage of at least $2.13 per hour be paid to employees who receive at least $30 per month in tips. [4] If wages and tips do not equal the federal minimum wage of $7.25 per hour during any week, the employer is required to increase cash wages to compensate.