Wages, cost of raising children, rent/overhead

Assuming a couple each has a job paying $15 per hour with benefits and two children, the following is what they face economically:

June 14, 2012 WSJ:  $300,000 to raise a child, not counting college or approximately $15,000 per year or $1200 per month EACH.

Income of the couple:

Gross:  $60,000 per year.  Net:  $45,000  Net per month-$4000

Minus: 

$2400 per month to raise two children

$1500 rent

$600 for two cars' insurance

cellphones at least $100

cable:  $100

gas and electric:  $75

childcare:  $500

Total:  $5275 per month or a balance of minus $1275  Without children: $2375

Rent is based on average retail rent near large cities or in large cities, where most people have to find jobs and live.  Some live in trailer parks.

Obviously, people should think twice before having kids they cannot afford to raise adequately.

In some states a couple like this would qualify for some entitlement programs.  Most couples want to work and want to have kids-one or two.  SO, a couple with two kids needs to make over $20 each, per hour to avoid a state of poverty.  Fortunately millions make over $100,000 per year individually or each one.

The American Dream appears to be quite a myth and is out of reach for most at the present time, while mortgage rates are at the lowest in history, banks are tighter than ever before.

Myth #2:  Why work, just collect cash welfare and have as many kids as you want.  Cash welfare is discontinued permanently after one collects it for 5 years.  Poor families with several kids face severe punishment in attemtpting to care for their children adequately.

The 47% can be defined as Obama did, as a majority of people who pay payroll taxes, state taxes (while a huge number of corporations incorporated in Delaware pay NO state tax) and sales taxes.  It's obvious that millions aren't obligated to pay federal income taxes.  Nearly half the Fortune 500 corporations pay no taxes and those that do, set an arbitrary 4-6% profit/ taxable income, AFTER paying stockholders.

50% of those under 25 and 78% of teenagers make less than $10 per hour, many with no benefits.

It's embarassing and absurd that Congress refuses to enact a fair wage and that millions of employees don't get raises, bonuses, 401 K plans or pensions.  Then they are criticized for relying upon Social Security as their only source of retirement, averaging $1000 per month nation-wide.

How does one talk about the American Dream with a straight face?

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