Item

Calculations

Earnings of two parents

2 × (9.00 USD/hour × 176 hours) = 3168.00

Contributions paid by the employer (6.2% Social Security Tax and 1.45% Medicare Tax)

3168.00 × 0.0765 = 242.35

Total family income

3410.35

20% on pension fund

682.07

10% on health care

341.04

Income remaining in a family of four

2387.24

Income remaining in a family per person

2387.24/4 = 596.81

Average cost of living

577.00