Friday, October 18, 2013

Food Stamps And Your Taxes Meme

A person making $50,000 a year pays $36.50 a year in taxes for food stamps

A person making $50,000 a year pays 10 cents a day in taxes for food stamps -Story

A married person with one child making $50,000 a year will pay exactly $3,820 in federal taxes. Of those, $2100 is allocated to Social Security, and $725 is distributed Medicare. This leaves a whopping $995 to be used to pay for programs administrated by the Federal government. That money is broken down below in its entirety:

  • National Defense $247.75 / 24.9%
  • Health care -- $235.81 / 23.7%
  • Job and Family Security -- $190.05 / 19.1%
  • Net Interest -- $73.63 / 8.1%
  • Veterans Benefits -- $44.77 / 4.5%
  • Education and Job Training -- $35.82 / 3.6%
  • Natural Resources, Energy, and Environment -- $19.90 / 2.0%
  • Immigration, Law Enforcement, and Administration of Justice -- $19.90 / 2.0%
  • International Affairs -- $15.92 / 1.6%
  • Science, Space, and Technology Programs -- $9.95 / 1.0%
  • Agriculture -- $6.96 / 0.7%
  • Community, Area, and Regional Development -- $4.98 / 0.5%
  • Response to Natural Disasters -- $3.98 / 0.4%
  • Additional Government Programs -- $78.61 / 7.9%

The category needed for examination is "Job and Family Security", which comprises 19.1% of all of the $995 paid in. In the future I will examine other categories in more detail. The breakdown of the $190.05 is listed below:

  • Unemployment insurance -- $22.88 / 2.3%
  • Food and nutrition assistance -- $36.82 / 3.7%
  • Housing assistance -- $19.90 / 2.0%
  • Earned income, Making Work Pay, and child tax credits -- $32.84 / 3.3%
  • Supplemental Security Income -- $18.91 / 1.9%
  • Federal military and civilian employee retirement and disability -- $43.78 / 4.4%
  • Child care, foster care, and adoption support -- $5.97 / 0.6%
  • Temporary Assistance for Needy Families -- $6.96 / 0.7%
  • Railroad retirement and additional income security -- $4.98 / 0.5%