Food Stamps Argument in Walmart

Recently, a working man and woman had an argument about him using food stamps to buy food for his family in Walmart. Here’s the video (strong language advisory):

First of all, he’s with his child. She’s way out of line. Second of all, it’s ironic they’re inside Walmart which is responsible for countless American manufacturing and other jobs being shipped overseas. All in the name of lower prices for customers like her.

Also, Walmart routinely avoids paying taxes to the US federal government on its overseas profits by keeping it in Luxembourg. But she still shops there and doesn’t lecture/protest them.

As for her disrespect directed at him. It’s over MAYBE $.03 for every $1 of federal taxes she paid. Not even a nickel. If she knew the following numbers, she probably wouldn’t have been such a jerk to this working man and his child.

In fiscal 2015 the Federal government did the following:

Spent a total of $3.687 Trillion.

Here’s how it was spent on the larger “items.”

* Medicare/Medicaid Spending for 2015 – $1 Trillion ($.27 for every $1 spent)

* Social Security Spending for 2015 – $944 Billion ($.26 for every $1 spent)

* Dept. of Defense Spending for 2015 – $562 Billion ($.15 for every $1 spent)

* Dept. of Treasury INTEREST ONLY on our Debt – $402 Billion ($.11 for every $1 spent)

Those four “items” alone account for $.79 for every $1 spent by the federal government.

The other $.31 combined spending goes for everything else including Education, Veterans, Homeland Security, Housing & Urban Development, Transportation, Energy, Agriculture, Environmental Protection

As for her/our tax dollars that this working man is spending:
Dept. of Agriculture – SNAP/Child Nutrition/WIC combined programs– $103 Billion ($.0279 for every $1 spent)

Department of Treasury related links:

https://www.treasury.gov/press-center/press-releases/Pages/jl0213.aspx

https://www.treasury.gov/press-center/press-releases/Documents/Outlays%20By%20Agency.pdf

Link to Walmart avoiding US federal taxes:

http://www.forbes.com/sites/clareoconnor/2015/06/18/walmart-report-on-76-billion-hidden-in-tax-havens-flawed/#7eeeb0ab7240

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Federal Government Spending on the E.B.T. Card

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The E.B.T. card. For many people, it creates a heated controversy on its need, use, waste and fraud.

In 2015, the federal government spent $103 Billion on E.B.T. card related benefits through the Department of Agriculture.  That’s 2.78% of the $3.7 Trillion that the federal government spent overall in 2015.

Here’s how it was spent and a description of the programs it was spent on:

  • $76 Billion on SNAP

http://www.fns.usda.gov/snap/supplemental-nutrition-assistance-program-snap

  • $21 Billion on Child Nutrition

https://fnic.nal.usda.gov/lifecycle-nutrition/child-nutrition

  • $6 Billion on WIC

http://www.fns.usda.gov/wic/women-infants-and-children-wic

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A Diva’s Budget

  • NEW Everyday Diva Logo PNGPutting together a budget is an extremely helpful tool for someone trying to get their financial house in order. During the process, they can find out what expenses are necessary, what expenses aren’t and what expenses they should start to incur.

Prepare the Budget with an Advisor

I recently sat down with an opera singer who is a friend of mine to go over her budget. For some time she’s had the feeling that she was making a pretty penny but didn’t have anything to show for it.

During the review we were able to determine that certain bills had to be paid. They included rent, car, power, medical insurance, student loans, retirement savings and a number of other necessary bills.

Know the Goals and Outcome of a Budget Review

Now part of the reason that she wanted to go through the exercise was to determine how she could set aside money for simple savings for a rainy day but also carve out a portion of her income for continuing her opera lessons.

With this review we also came across expenses that where secretly and subtly draining her pocket book. Namely food. This included not only the food that she bought for the home but also what she spent every day for breakfast, lunch and dinner. It was adding up.

On top of those expenses she noticed that going out with her friends was hurting her finances. She realized that she was spending too much going to dinners, movies, and generally hanging out with her friends.

Do What the Budget Plan Recommends

Now to be fair, the review was not designed to say that she should stop doing what she was doing all together. It was however designed to let her know where the challenges where and how to fix them. Namely watching what she buys outside the home for lifestyle.

This part of the review is critical. Once we identified what needed to be done she needed to do it. This is not to say that she won’t spend a little extra here and there but she needed to follow the plan to make it work. That way she can achieve a healthy financial balance in her life.

Putting together a budget with a financial advisor can go a long way in getting ones financial house in order. They provide independent, expert eyes that can look at the finances of their clients and determine what the best use of money is and where they can make improvements.

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