Jun
26th
Sat
26th
Tax Revenues And Expenses Per Average U.S. Worker
Average US worker pays $14,460 in tax; government spends $16,897.
To begin with the revenue side, the average employed worker paid $12,748 to the Federal government in the fiscal year ending September 2009. The company he or she works for chipped in $1,712/worker in the form of corporate income taxes. So that works out to $14,460 per employed person in Federal government revenue. In case you are curious about total per capita, every man, woman and child in America pays just over $6,000 in taxes annually.
So, against that $14,460 per employed tax payer, how much does the government spend on their behalf? Let’s step through the most well-known programs for the 2009 fiscal year.
- Social Security: $4,180 per worker
- Medicare: $3,745 per worker
- Medicaid: $1,892 per worker
- Educational Programs: $1,436 per worker
- Defense Vendors: $2,935 per worker
- Federal Salaries: $1,341 per worker
- Unemployment Benefits: $894 per worker
- Food Stamps: $384 per worker
Source: Nicholas Colas at BNY ConvergEx
