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Of course two people with low incomes shouldn't have two kids. But (as detailed in my other comment) you need a 4 person household with 2 kids to get tax negati
by ElProlactin 1mo ago
Of course two people with low incomes shouldn't have two kids. But (as detailed in my other comment) you need a 4 person household with 2 kids to get tax negative at $50,000/year. Even a 3 person household with 1 kid isn't tax negative in most of the US at $50,000/year.
So the other poster's argument that $50,000/year isn't so bad because of transfers, tax credits, subsidies, etc. doesn't hold up to real-world examples.
- wallst07 1mo agoIt holds up outside if costal urban areas, there are plenty of places where you can get a 2b/2ba home with garage with that salary. You can't get it in high cost states like CA, NY etc...
- ElProlactin 1mo agoI find comments like this interesting because they're devoid of the details that matter. What's the size of the household? Could a single person in rural America making $50,000/year save up enough to buy a house? Sure. Could two adults in a $50,000/year as a household? Possibly if they're very frugal. Two people with 1-2 kids? This is where the situation changes dramatically.