Scripture says, “The wages of sin is death” (Romans:6:23) and “the soul that sinneth, it shall die” (Ezekiel:18:4,20). Certainly death (eternal separation from God) is the penalty for sin that the law demands of each sinner. Wages are not a debt that we pile up but what we deserve for what we have done. We say that the criminal “got what he deserved.” It would be accurate to say that the penalty for sin is death; and the fact that Christ “tasted death for every man” (Hebrews:2:9) could be rephrased to say that He paid the penalty for our sins.
"But we see Jesus, who was made a little lower than the angels for the suffering of death, crowned with glory and honor; that he by the grace of God should taste death for every man."