There’s a certain type of financial confessional that has had a way of going viral in the post-recession era. The University of Chicago law professor complaining his family was barely keeping their heads above water on $250,000 a year. This hypothetical family of three in San Francisco making $200,000, enjoying vacations to Maui, and living hand-to-mouth. This real New York couple making six figures and merely “scraping by.”
In all of these viral posts, denizens of the upper-middle class were attempting to make the case for their middle class-ness. Taxes are expensive. Cities are expensive. Tuition is expensive. Children are expensive. Travel is expensive. Tens of thousands of dollars a month evaporate like cold champagne spilled on a hot lanai, they argue. And the 20 percent are not the one percent.
A great, short book by Richard V. Reeves of the Brookings Institution helps to flesh out why these stories provoke such rage.
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