$46,000 a month to raise a child?
As John McEnroe would say: “You cannot be serious.” I love Johnny Mac. We need more personality and passion.
Anyway, $46k is what former model Linda Evangelista claims she needs to support her 5 year old son fathered by French zillionaire Francois-Henri Pinault.
How much of that money would actually be earmarked for support? Probably only a small fraction. Countless economic studies suggest that the proportion of household income spent on children decreases as household income increases. After all, there is only so much money you can reasonably spend on a child per month.
Look at some of her – oops – I mean child expenses. They include $16,000 for armed bodyguards and $7,000 for a 24-hour nanny.
Are these legitimate child related expenses?
Unlikely. Sounds more like “mom support” than “child support.”
And since child support is tax neutral, this smells like tax-free alimony.
In Connecticut, we calculate child support using the Income Shares Model. This model presumes that the child should receive the same proportion of parental income that the child would have received if the parents lived together.
Applying that logic here’s my prediction for Linda: $25,000 per month.
Can you raise a child on $300,000 per year, tax free?