Quote:
Originally Posted by brennan2323
This concept is ridiculous. If someone is making say $100,000 and they are a family of four take home pay would be roughly $2,600 every two weeks so $5,200/month give or take. Now let's breakdown their hypothetical expenses:
Housing - $1,800/mo (roughly 21% of gross monthly pay or 31% of net monthly pay)
2 car payments - total $700
groceries - $500
utilities - $250
cells - $200
tv/internet - $150
entertainment - $400
They now have $1,200 left over every month to save. But and this is a big BUT, this also assuming no credit card bills, no student loans, no extra expenses, no kid related expenses, no 401K saving. Throw those in and they are probably close to breaking even monthly. To me, I wouldn't say they are living beyond their means at all. No extravagant vacations, no insane car payments, etc. Even the housing payment is probably on the low end. Now say the breadwinner loses their job due to Covid how the hell do you expect them to not be underwater and really quick too? Yes, there are certain people that live beyond their means, but there are also people that do not and through no fault of their own find themselves in a horrible position. The stimulus checks are the tax payers money and if you have worked you have always paid into unemployment. In a time of need like this people need help.
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My calculations are that this family of 4 pays a lot less in taxes than you show here and much more take home. You do realize that the couple would take the standard deduction of $24,000 that brings the gross down to only 76,000. The couple pays from a lower tax table than everyone else and receives a $2,000 credit for each child under 17. Even with FICA and health insurance, the take home is about $6,750 to $7,000/mo. I’d say that the family of 4 needs to learn how to prepare and adhere to a budget and save.
The Family of 4 is the “welfare queen” of our time.
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