bionicarm
Active Member
Originally Posted by GrouperGenius
http:///forum/post/2820280
So your good with paying 22% x 2 of your income for insurance and schooling? Lets work this out, shall we? So now 44% is going to insurance and school. And depending on income is tax bracket. Let's use $50,000 a year. And you have a family. Congratulations, the kids are cute.
So, $50,000 - 44% insurance/schooling is now $28,000. $2333 a month.
Food and clothing is all you need? No rent, electric, water, heat oil, gas for your car, car insurance, ya'll might want to consider having the cable TV shut off so ya can have a phone.
Come on, don't blame the guy for not using a calculator. My familiy's insurance is about 2.2% of our income for health and life insurance. Which level of schooling are we talking about? If you talking elementary, middle, and high school, that's covered by our home's property taxes, about 3% of anyone's income. If I send my older daughter to a very good state university here in Texas, I'm looking at approximately $15,000 a year for tuition and books. For your $50,000 family, that's about 30% of their annual income. For me, someone in the upper income bracket, it's less than 10%. So that's the breaking point in your theory. If you omit the cost of higher education, a family making $50,000 a year would do pretty good on free healthcare and schooling:
$50,000 - 10.4% = $44,800. 3733/month.
Like I said, the back breaker is paying for college. But then, not many families making $50,000/year can afford to send their kids to college today without loans, grants, or scholarships.
Anyway, taking your numbers your theories are flawed. A family making only $50,000/year couldn't live on $2,300/month? If you live within your means, and don't go out and get one of these $300,000 homes like the people who want to be bailed out, you could easily live on $2,300/month (depending WHERE you live). In San Antonio:
3 bedroom house, 1700 square feet - $700/month rent
Utilities: electric, water, cable, phone - $300/month
Autos: gas and car insurance (2 drivers) - $350/month
Food: family of four - $500/month
Total: $1850/month
Sure, money would be tight, but you could live on it. Again, this is San Antonio. It isn't LA, New York, or any of these other ridiculously high rent areas. I personally don't know how someone who makes only $50,000/year could even live in these areas, even if they had to only pay 22% of their income to insurance and school.
http:///forum/post/2820280
So your good with paying 22% x 2 of your income for insurance and schooling? Lets work this out, shall we? So now 44% is going to insurance and school. And depending on income is tax bracket. Let's use $50,000 a year. And you have a family. Congratulations, the kids are cute.
So, $50,000 - 44% insurance/schooling is now $28,000. $2333 a month.
Food and clothing is all you need? No rent, electric, water, heat oil, gas for your car, car insurance, ya'll might want to consider having the cable TV shut off so ya can have a phone.
Come on, don't blame the guy for not using a calculator. My familiy's insurance is about 2.2% of our income for health and life insurance. Which level of schooling are we talking about? If you talking elementary, middle, and high school, that's covered by our home's property taxes, about 3% of anyone's income. If I send my older daughter to a very good state university here in Texas, I'm looking at approximately $15,000 a year for tuition and books. For your $50,000 family, that's about 30% of their annual income. For me, someone in the upper income bracket, it's less than 10%. So that's the breaking point in your theory. If you omit the cost of higher education, a family making $50,000 a year would do pretty good on free healthcare and schooling:
$50,000 - 10.4% = $44,800. 3733/month.
Like I said, the back breaker is paying for college. But then, not many families making $50,000/year can afford to send their kids to college today without loans, grants, or scholarships.
Anyway, taking your numbers your theories are flawed. A family making only $50,000/year couldn't live on $2,300/month? If you live within your means, and don't go out and get one of these $300,000 homes like the people who want to be bailed out, you could easily live on $2,300/month (depending WHERE you live). In San Antonio:
3 bedroom house, 1700 square feet - $700/month rent
Utilities: electric, water, cable, phone - $300/month
Autos: gas and car insurance (2 drivers) - $350/month
Food: family of four - $500/month
Total: $1850/month
Sure, money would be tight, but you could live on it. Again, this is San Antonio. It isn't LA, New York, or any of these other ridiculously high rent areas. I personally don't know how someone who makes only $50,000/year could even live in these areas, even if they had to only pay 22% of their income to insurance and school.
