… spending on federal welfare benefits, if converted into cash payments, equals enough to provide $30.60 per hour, 40 hours per week, to each household living below poverty. The median household hourly wage is $25.03. After accounting for federal taxes, the median hourly wage drops to between $21.50 and $23.45, depending on a household’s deductions and filing status. State and local taxes further reduce the median household’s hourly earnings. By contrast, welfare benefits are not taxed.
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3 comments:
Median hourly wages would be A LOT HIGHER if not for the fact that American citizens are forced to compete for jobs with millions of immigrants, both legal & illegal.
American citizens also forced to compete with slave-wage labor in Third World countries due to off-shoring & outsourcing.
Better immigration & trade policies would go a long way towards raising median hourly wages and reducing the number of people on the welfare rolls.
Mitt Romney had some great policies & positions in this regard. Too bad that we'll never get to see them implemented.
Median Income would be a lot higher if it included the cost of health coverage -- like welfare spending includes medicaid/medicare.
Median Income would also be higher if it included the cost to an employer of:
having an HR Department,
unemployment insurance,
workers comp,
OVERHEAD,
etc
all divided by the number of employees and added to "Income"
"I know this sounds crazy, but if you convert welfare spending to cash payments to those on welfare, they are making out better than a household on a median income"
It wouldn't sound crazy if it were true; but it's not. So, yeah, it sounds a little crazy.
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