Reply to How do people in their 30s afford 3 kids?

Forum Index » Infertility Support and Discussion

Reply to "How do people in their 30s afford 3 kids?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Having one parent with a higher income and the other one stay home actually provides a lot of tax advantages, and you pay no costs in childcare.

Example:

My brother makes around $120k. His wife stays home and they live in the Midwest and have 4 kids. They got a huge stimulus check and pay very, very little in taxes.

In contrast:

My Dh makes $100 and I make around $110. We have childcare costs of $30k/year. We didn’t get stimulus check. We pay through the roof on taxes. [/quote]

You didn’t even mention how his wife will receive Social Security payments based on his earnings without having to work/contribute — he gets SS based on his earnings and she simultaneously gets additional SS that is 50% of his (assuming their ages are the same).  Assuming he has 35 years of maximum contributions, her benefits alone will be worth $750K-$1MM.[/quote]

Btw, this means that second-earner spouses get a very poor return on the huge SS payroll taxes they and their employers pay.  This is considered fair by the architects of SS because SAH parenting is viewed as extremely valuable work that deserves a reward, and because it’s a form of welfare (an elderly couple have higher expenses than a single elderly person).

After one spouse dies, the payments are lowered, down to whichever is higher of the spouse’s.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics