Take a second and ask yourself what your family’s socioeconomic status is. If you’re like the model American, you answered with something ending in “middle class” and chances are that you assigned yourself this identity without directly referencing your family’s annual household income as it compares to the American public.
Douglas Holtz-Eakin is a former director of the Congressional Budget Office and served as chief economic adviser to John McCain during his 2008 presidential campaign.
Amity Shlaes is an author and columnist at Forbes, and currently chairs the board of the Calvin Coolidge Memorial Foundation. Her books include Germany: The Empire Within, The Greedy Hand, The Forgotten Man and Coolidge. Shlaes has also written for Bloomberg News, The Wall Street Journal, and The Financial Times, among other publications, and is also a regular