* Childcare costs decrease with age, and decrease substantially when your child reaches school age. Full-time childcare costs are typically only for the first 3-4 years of a child's life.
* Even if you break even in terms of take-home pay, a stay-at-home parent that was previously working might be missing out on things like 401K/retirement contributions.
* The opportunity costs to your career of taking 3-4 years off is enormous, and it's frequently difficult at best to return to work with similar pay/seniority as when you left after taking several years off (and might be effectively impossible if you've taken 10+ years off).
For working professionals, it's incredibly short-sighted to look at short term childcare costs vs take-home pay solely in terms of dollars, and it's silly to to say there is 'no incentive except avoiding your kids.' The incentive in terms of dollars and job prospects over the course of your career can be huge.