This weekend on Townhall.com — it is Father’s Day!
Winning the lottery
June 17, 2012
My dad was trained as an accountant. So, why didn’t he just do the math?
According to the Department of Agriculture, it costs those American families categorized by Uncle Sam as “middle income” a whopping $234,900 to rear a child from birth to age 18. Families with household incomes of less than $59,000 supposedly spend $169,080 per kiddo; wealthier families (those earning more than $102,870 per annum) will fork out $389,670 per heir.
Wow. Mom and Dad had six kids. That’s almost $1.5 million.
Apparently the price tag has been greatly inflated since my parents’ day. Which naturally conjures up the next question: how have my wife and I financed our three?
It gets worse. These sticker shock numbers don’t even include the cost of pre-natal care, the birth itself or, on the back-end, putting the youngsters through college. And remember, college costs have increased ten-fold from when I went to school. Add another $50,000 to $80,000 to child-rearing if college costs are included . . . and the student chooses a less expensive university.
Of course, birthing in bulk creates some economy of scale. “Families with three or more children,” the Los Angeles Times reports. “spend 22 percent less on each child than parents with two or fewer.”
Be thankful, of course, that these are government statistics, which must be ingested with a healthy skepticism… (click here for the complete article)
And here are some links to the column in question:
- “Cost of raising children up 3.5%, U.S. says” — Los Angeles Times
- “A Good Father” — Common Sense
- “Benefits Are Priceless” — Common Sense