Cash value of welfare spending to households in poverty greater than median household income

A new analysis of Congressional Research Service data by the Republican side of the Senate Budget Committee shows that the amount spent on federal means-tested welfare programs, if converted to cash payments and divided among households below the poverty line, would equal a daily income greater than the median household income in 2011.

Cash value of welfare spending to households in poverty greater than median household income 120307foodstampsopinion

The cash value of welfare spending, according to the analysis, is $167.65 daily per household in poverty. The median household income in 2011 was $50,054 or $137.13 per day, according to the analysis, released Friday.

When broken down into an hourly wage, welfare spending would be enough for $30.60 an hour for 40 hour weeks for each household in poverty. The median household hourly wage is $25.03, which drops to between $21.50 and $23.45 after federal taxes, depending on deductions and filing status, the minority side of the committee showed. The wage is further reduced with local and state taxes. Benefits from government assistance programs, they note, are not taxed federally.

More: http://dailycaller.com/2012/12/07/cash-value-of-welfare-spending-to-households-in-poverty-greater-than-median-household-income/
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Cash value of welfare spending to households in poverty greater than median household income

Cash value of welfare spending to households in poverty greater than median household income

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