Prices in the USA – Tax, Foods, Transport, Healthcare, Education
Nearly all employed US citizens are required to file their own tax returns with the Internal Revenue Service (IRS) annually. Every US resident has a Social Security number that helps keep track of wages and income for tax purposes.
The main types of taxes are FICA and income taxes.
FICA includes Social Security Tax and Medicare Tax. Social Security tax is 6.2% and is payable only on income up to $ 132,900 per year, Medicare is 1.45% and is levied on all annual income.
With regard to income tax, here the tax rate rises with increasing income and varies from 10 to 37%. The federal income tax system in the United States is progressive. The tax varies depending on whether you are single, married, or head of the family.
Savings, deposits, investments
56% of citizens invest in the USA. Main instruments: stocks, investment funds, bank deposits and real estate.
There are both public and private healthcare clinics in the United States. At a government clinic, when filling out an application, you will be asked about your income level. With an income of less than $ 1,000 per month, each visit to the doctor will cost $ 35, you need to pay for them immediately upon visit. The analyzes can be paid in installments.
In a private clinic, the standard cost of a doctor’s visit in the absence of health insurance is $ 150. The situation with dentistry is more complicated: it is much more expensive in the USA. To cure a tooth will cost $200-500, to crown a tooth – $500-$1,000.
In case of urgent need, a US citizen, even in the absence of insurance, has the right to use medical assistance. In this case, payment can be made in installments.
Most Americans do purchase health insurance. Its price ranges from $ 250 to $ 800 a month, depending on age and health status and what medical services it covers. Most often, health insurance does not include dentist services.
In the States, it is very important to have a good credit history, otherwise they will not rent out the appartment and may not even take on a prestigious job.
Interestingly, most of the average American families live “in debt” and take Connecticut payday loan even for small purchases.
Credit history is now being carefully checked, especially after the 2008 crisis, however, if there are no problems with this, it is relatively easy to issue long-term loans with a minimum interest rate and a fixed rate.
Credit cards are also commonly used. It turns out that on the one hand, you have the opportunity today to enjoy the benefits of life, on the other, you become hostages of a credit situation, dooming yourself to endless payments. Job loss can lead to bankruptcy and property confiscation. This is how they live: they spend more than they earn. But at the same time they smile all the time.
Americans spend about a third of their income on rent or mortgages, utilities, and home improvement.
The approximate cost of renting a 2-room apartment in Florida is $ 1,200-3,000 per month, depending on the city and area. Housing is most often rented unfurnished.
The purchase price of real estate is from 200,000 and over, depending on location and size.
Utilities will cost an average of $ 850 per month for a family. If we add here the tax on housing, then a family living in a private house in a good area will have to pay $ 1,500-2,000 a month.
Food ranks third in the budget for most Americans. These costs depend on social and marital status and state of residence. For example, in California, Florida and the state of New York, people spend about the same on food “out of home” and “at home”, while residents of the central states prefer to eat at home.
The cost of food in the United States is much higher. For comparison: a liter of milk will cost $ 4.5, and a liter and a half bottle of the water – $ 1.3.
The price depends on the level of the supermarket. In premium grocery stores (Whole Foods, Fresh Market) the price is about 30 % higher than in regular stores. At Walmart, Publix, the price will please, but the quality of the products will be far from the standards of proper nutrition. There are warehouse-style supermarkets such as Costco, a favorite shopping destination for American families. Here, by purchasing an annual subscription, you can purchase products at a significant discount.
There is a free school system in the United States, however, those parents who can afford it prefer to send their children to private schools. The quality of training and the qualifications of teachers are higher there. The cost of tuition in a private school is $1,000-$2,000 per month.
Higher education is paid in the USA. It costs an average of $ 20,000 per academic year. However, those Americans or green card holders who want, but cannot afford to study, have the right to ask the state for financial assistance for full or partial tuition fees.
Its receipt will depend on several factors: for example, how well the applicant passed the entrance exams, how he studied at school, whether he has extraordinary abilities, what is the family’s income level. The state pays scholarships to students who study under such programs. Its size depends on the number of training hours. Also, to pay for tuition, a student can get a loan from a bank on special terms.