Soo.... $200/person/mo in clothes - I didn't realize I was supposed to throw them away after wearing them for a month! Not sure how you do that, even with kids that grow out of clothes.
I also have their effective tax rate at 22.8% - not 40% (apparently they forgot deductions outside of their 401ks... Still have no idea how they would have gotten to an effective tax rate of 40%!). Total taxes should be around $92,000, not $185,600, which frees up around $93,600/yr ($7,800/mo) they could throw into a taxable account.
It would be rough to have a $10,000/yr slush fund for when "things come up". Yeah, overall I'm not buying it.
ETA: If you're making that kind of money and you find yourself with an effective tax rate of 40%, you should really consider hiring some sort of tax professional...