Answer to Question #293548 in Finance for Kelsey Jand

Question

Context Link: https://www.cbpp.org/research/federal-budget/where-do-our-federal-tax-dollars-go

Instructions: Provide a response that includes whether or not you agree or disagree with the following statement, a few reasons why you disagree or agree, and further information to prove your point or connect it back to the statement.

Statement: I believe that our most important tax that we pay goes towards safety net programs in this country. I personally benefit or have benefitted in the past from such safety net programs, being a low income individual for most of my life. Without these programs, I would not have been able to enjoy 3 meals a day or even the roof over my head, both as a child and now as a young adult. So when I am working a steady job with good income, I feel good about contributing some of that towards somebody that is in a similar situation to mine, and helping them live a better and more worthwhile life.

Answer 1

I agree

Every year, such initiatives keep millions of people out of poverty. Additionally, these programs prevent helps the country to improve health and living conditions.

According to a CBPP research based on the Census' Supplemental Poverty Measure, government safety net programs lifted 37 million individuals out of poverty in 2018 (CBPP, 2020). Without state income assistance, such as safety net programs or other income supports like Social Security, the poverty rate in 2018 would have been nearly double the current 12.8 percent. Millions more were lifted out of poverty as a result of these programs, even if they did not rise beyond the poverty line.

Center on Budget and Policy Priorities (2020), Policy Basics: Where Do Our Federal Tax Dollars Go?

https://www.cbpp.org/research/federal-budget/where-do-our-federal-tax-dollars-go