[T]he 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.No wonder people receiving government benefits are in no hurry to find gainful employment. Almost any job they take would result in a pay cut.
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.
President Obama is not satisfied, however, that we're doing enough to subsidize poverty in this country. His budget would increase federal means-tested spending another 30% over the next four years. Heck, why not? Just tax the rich to make them pay their "fair share" and none of us would have to work.