Question
Let's assume a two wage-earner household with two children. One person has a high school diploma and the other has completed their GED. Currently, both
Let's assume a two wage-earner household with two children. One person has a high school diploma and the other has completed their GED. Currently, both adults are employed making minimum wage (i.e., $7.25/hr). Each person works 40 hours per week, 52 weeks during the year.
- Calculate their gross income.
- Assume 10% is taken out of gross earnings to cover social security and federal income tax.Calculate this value.
- Given this couples gross income, are they above or below the poverty guidelines for the 48 contiguous states? By how much?https://aspe.hhs.gov/topics/poverty-economic-mobility/poverty-guidelines/prior-hhs-poverty-guidelines-federal-register-references/2020-poverty-guidelines
The poverty guidelines are published annually in the Federal Register.The values are used by various federal agencies to determine eligibility for specific entitlement programs such as SNAP and the School Lunch Program.
Let's look at these two programs and determine if this family is eligible for assistance through SNAP,https://www.fns.usda.gov/snap/recipient/eligibility,for their children's lunches at schoolyou can look at https://www.fns.usda.gov/school-meals/nutrition-standards-school-mealsand for more information, please look athttps://www.fns.usda.gov/cnp/fr-032019
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