Daddy’s rich and momma’s good looking…

From a press release

For example, low-income households, or those at the 10th percentile of the income distribution, spend approximately $8,900 per year per child, while high-income families, or those at the 90th percentile, spend $50,000 per child.

I find that hard to believe.  Where do people in the bottom 10% find $9K/child/year?  According to this report from the BLS the top of the bottom 10% make $163/week (“Usual weekly earnings of wage and salary workers, by upper limits of … deciles …”); though I have my doubts about the correctness of just multiplying that by 52 that’s $8,476 per year.  Maybe that number includes the transfer payments for what ever actually reaches the child via food stamps and public education. For comparison that BLS report leads one to conclude that $59,228 is the 90% annual income.  These are 1999 dollars, and salaried workers.  Of course the real explosive growth in the income distribution happens after the 90% level.

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