Wednesday, August 15, 2007

Hey Mr. Raw Dawg, This One is For You

Make sure to wrap it up tight.

Grandpa Mac G had 12 kids, No wonder he still works.

Families making more than $74,900 a year will spend a whopping $289,380 to raise a second child born in 2006 through age 17, estimates the Center for Nutrition Policy and Promotion, a division of the U.S. Department of Agriculture. Higher-income families in urban areas in the West will spend the most, $304,740.

Though not as steep, the figures for lower-income families are just as unsettling: $197,700 for families earning $44,500 to $74,900 and $143,790 for families making less than that. That breaks down to nearly $15,800 a year from birth to age 2 for families in the $74,900-plus income bracket. This is no back-of-the-envelope guesstimate. The survey involves interviews with about 5,000 households, four times a year.

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