Child care can be a burdonsome expense
Many support payors and payees often feel that the Michigan child support formula's mandatory amounts are unjust or inappropriate.
The Economics Policy Institute has published shocking numbers on the high cost of infant child care.
Here's what is says about Michigan:
- Annual infant care costs - $9,882
- Median family income - $59,940
- Infant care costs as a share of median family income: 16.5%
- Share of families able to afford infant care (i.e. costs are 10% or less of income) - 26.0%
- Savings to typical families with an infant from capping child care expenditures at 10% if income - $3,888
- Full-time minimum-wage salary - $17,680
- Infant care costs as a share of minimum-wage earnings - 55.9%
- Annual rent - $9,317
- Infant care as a share of rent - 106.1%