Quote: (04-07-2013 02:30 PM)UrbanNerd Wrote:
10 kids = 10 mouths to feed, clothed, spend money on extra-curriculars and college savings.
If I had the money?...maybe...but even with a $150K-$200K salary, I don't know where my luxury cars, higher-end audio equipment and international golf trips will fit in if I have to feed 10 kids.
I don't want to be one of those "complaining family men" who is mad at the government because they have to struggle supporting their family of some housewife and 3 kids on a $50,0000/year income. I am like..."Who told YOU to have a few kids with a factory job??"
These guys do have a point. I was curious to see how much richer everyone would be if we rolled back some of this out of control gov't spending and regulations. I stumbled upon this site:
http://costofgovernment.org/cost-government-report-a98
According to that, out of every year the entire economy spends 197 days(54% of gdp) working to pay for the cost of government. Everyone would be substantially richer if we cut that down a bit and an average guy might be able to support a 5-6 kid family on a blue collar wage like he did in the 50s. Real wages have dropped since the 60s, our standard of living is being eaten up by taxation, regulation, inflation, increased size of houses, car safety mandates and other government interventions into the market.
The reason why everyone has these new phones and cars is that the savings rate is negative or close to it. The consumer goods are being purchased on credit.