Answer:
Basic family budgets
•HOUSING
•FOOD
•TRANSPORTATION
•CHILD CARE
•HEALTH CARE
•OTHER NECESSITIES
•TAXES
Explanation:
Housing. Housing costs are based on the Department of Housing and Urban Development’s fair market rents (FMRs). FMRs represent 40th percentile rents (shelter rent plus utilities) for privately owned, decent, structurally safe, and sanitary rental housing of a modest (non-luxury) nature with suitable amenities. Rents for two-bedroom apartments were used for families with one or two children, and rents for three-bedroom apartments were used for families with three children (these assumptions were based on HUD guidelines).
Food. Food costs are based on the “low-cost plan” taken from the Department of Agriculture’s report, “Official USDA Food Plans: Cost of Food at Home at Four Levels.” The USDA food plans represent the amount families need to spend to achieve nutritionally adequate diets.
Transportation. Transportation expenses are based on the costs of owning and operating a car for work and other necessary trips. The National Travel Household Survey is used to derive costs that are based on average miles driven per month by size of the metropolitan statistical or rural area multiplied by the cost-per-mile.
Child care. Child care expenses are based on center-based child care or family child care centers for four and eight year olds, as reported by the Children’s Defense Fund.
Health care. Health care expenses are based on an amount that recognizes that not all families receive employer-provided health care. We use a weighted average of the employee share of the premium for employer-sponsored health insurance and non-group premium costs from an online insurance quote, plus the cost of out-of-pocket medical expenses.
Other necessities. The cost of other necessities includes the cost of clothing, personal care expenses, household supplies, reading materials, school supplies, and other miscellaneous items of necessity from the Consumer Expenditure Survey.
Taxes. Citizens for Tax Justice (CTJ) computed the taxes for tax year 2004. The six line items from above represent after-tax budgets. CTJ determined the amount of tax liability that each after-tax budget would incur. Therefore, the after-tax budget along with the additional tax burden represents the total pre-tax budget. Taxes included federal personal income taxes, federal Social Security and Medicare payroll taxes (direct worker payments only), and state income taxes. Local income or wage taxes were also included. Included in the calculation are federal tax credits for children and the earned-income tax credit
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