Using the pie chart in your reading, what percentage of our total tax dollars is used by the federal government to fund the Social Security and Medicare programs?

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dahjnrt dahjnrt · Answer 1 · 2020-05-27T11:17:06+02:00

Answer:

32.42% or $1.15 trillion

Explanation:

Working with the Pie Chart of Federal Government expenditures from the fiscal year 2010(figure is attached as an image), we have the following:

Total expenditure = $3.55 trillion,

Social security (sector) = 19.63% or 0.1963,

Medicare (sector) = 12.79% or 0.1279

Social security + Medicare (sectors) = (19.63 + 12.79) % = 32.42%

Together, Social security & Medicare account for 32.42% of the Federal government's total expenditure

Amount spent on Social security & Medicare = Sector percentage * Total expenditure

Amount = 32.42% * 3.55 * 10¹² = 0.3242 * 3.55 * 10¹²

Amount = $1.15091 trillion

Amount ≈ $1.15 trillion

Therefore, Social security and Medicare account for about $1.15 trillion of the total expenditure

azikennamdi azikennamdi · Answer 2 · 2021-12-12T11:46:32+01:00

The total amount used by the Federal Government to fund Social security and Medicare in the year 2020 totals $1.869 Trillion.

Step 1 - Get the total of Medicare and Social Security Spend

Medicare = $ 769,000,000,000

+

Social Security = $ 1,100,000,000,000

Total = $ 1,869,000,000,000 or $1.869 Trillion

Step 2 - Get the percentage of the Medicare and Social Security Spend as a percentage of the total spend.

Formula = (Value / Total) x 100%

Therefore:

= 0.28318181818 X 100%

The percentage spent on Social Security and Medicare of the total is = 28.32% of the Total Spending.

Learn more about US Government Spending in the link below:

https://brainly.com/question/25125137