Making Ends Meet: How Much Does It Cost To Raise a Family in California?

[Hotspring 44]

More info can be found here:
California Budget Project (https://www.cbp.org/)
The complete report with CA county by county (all 79 pages) in pdf with lots of specific info, pie graphs, stats, and all that here:
https://www.cbp.org/pdfs/2010/100624_Making_Ends_Meet.pdf

How Much Income Do Californians Need To Buy a Median-Priced Home?

Sonoma County,

Median-Priced Home (2008) $365,000

Median Household Income (2008)$62,238

Income Needed To Purchase Median-Priced Home (20% Down Payment) *$70,341

Gap Between Median Income and Income Needed $8,103

Income Needed To Purchase Median-Priced Home (5% Down Payment) *$83,530

Gap Between Median Income and Income Needed $21,292

* Assumes a 30-year conventional fixed-rate mortgage with a 6.04 percent interest rate.
Note: Calculations for the income needed to buy the median-priced home assume that mortgage payments make up 30 percent of household income.
Source: CBP analysis of MDA Data Quick, Federal Reserve System, and US Census Bureau data

Insured Californians Pay a Significant Share of Their Health Costs Job-Based Family Coverage Average Monthly Premium Percent of Total Average Monthly Cost

Employee Contribution $283 25.1%

Employer Contribution $844 74.9%

Privately Purchased Family Coverage Basic Family Budget Estimate of Monthly Premium (Two Parent Family) $1,021

Source: California Health Care Foundation and CBP analysis of Anthem Blue Cross and Kaiser Permanente data


How Much Do Families Pay in Taxes? (Annual, Based on Statewide Basic Family Budgets)

Annual Income
Single Adult $30,445 /
Single Parent Family $64,239
Two Parent Family (One Working) $54,039 /
Two Parent Family (Both Working) $75,500

State Income Taxes
Single Adult $584 /
Single Parent Family $1,027 /
(One Working) $665 /
Two Parent Family (Both Working) $1,597

Federal Income Taxes
Single Adult $2,347 /
Single Parent Family $2,543 /
Two Parent Family (One Working) $571 /
Two Parent Family (Both Working) $2,590

Medicare
Single Adult $441 /
Single Parent Family $931 /
Two Parent Family (One Working) $784
Two Parent Family (Both Working) $1,095

Social Security
Single Adult $1,888 /
Single Parent Family $3,983 /
Two Parent Family (One Working) $3,350 /
Two Parent Family (Both Working) $4,681 /

State Disability Insurance
Single Adult $335 /
Single Parent Family $707 /
Two Parent Family (One Working) $594 /
Two Parent Family (Both Working) $831/

Total Taxes
Single Adult $5,594 /
Single Parent Family $9,192 /
Two Parent Family (One Working) $5,964 /
Two Parent Family (Both Working) $10,793 /

Note: State income taxes include the child care credit for single parent and two working parent families who qualify and the state renter’s credit for all families who qualify. Federal income taxes include child and dependent care credit for single parent and two working parent families, as well as the Making Work Pay Credit for all families.

[someguy]

Note that this does not even include sales tax on all the stuff you have to buy to raise your family! Or property tax on your home. Or registering your vehicle. Or fuel excise tax. Or inflation, which is a type of tax caused by expansionary monetary policy (otherwise known as the Federal Reserve printing money out of thin air, making our dollars worth less and less). There is even a large tax on renouncing your citizenship, should you decide that all of this tax is too damn much!

[Hotspring 44]

There are far more detailed analysis on the 79 page report that I linked to. I have not read the whole report.
It is quite detailed, I am sure those things are included in it.

Note that this does not even include sales tax on all the stuff you have to buy to raise your family! Or property tax on your home. Or registering your vehicle. Or fuel excise tax. Or inflation, which is a type of tax caused by expansionary monetary policy (otherwise known as the Federal Reserve printing money out of thin air, making our dollars worth less and less). There is even a large tax on renouncing your citizenship, should you decide that all of this tax is too damn much!