"'They’re scrimping to send their kids to college, driving a Camry, if they have a car at all, and wondering why eggs have gotten so damned expensive.' 'Granted,' said Collins, which was the most fascinating part of this exchange.... How have liberals gotten so comfortable with the idea that $400,000 a year — more than what 98 percent of the population makes — is really just a middle-class income?..."
Compared with the old establishment that survived on inherited wealth and social position, they are insecure, and many worry that their offspring will be downwardly mobile, which leads them to spend virtually all of their outsize disposable incomes on preparing the children to become star performers in the next round of competition....
What self-respecting mammals don’t want their kids to have it at least as good as they did? At the median household income, that’s even a semi-plausible demand, because here all government needs to provide is median-grade public goods.... If you would be satisfied knowing that your child had a secure but unremarkable life managing a Walmart in some exurb, the government could probably guarantee that....
But — as McArdle sees it — if you worked hard enough to get to $400,000 a year, you expected something bigger for yourself and then you'll probably want the same — and more — for your children, and — overspending for them — you're stuck with an ordinary life for yourself. The Camry. The eggs.
Is that really the explanation for the Collins/Stephens agreement? I don't know. But if it is, there are some good solutions for young people looking on and thinking I don't want that to happen to me:
1. Don't have children.
2. Don't get the idea that you're special and you need to win in economic terms. If you sort of win — within the range that you're likely to win — you'll still have an ordinary life, and it will be much more work and much more disappointing. So come to terms with your mediocrity early. If you do this, it's easier to....
3. Live somewhere cheap (and close to nature).
4. Do some sort of work that you can enjoy and feel good about.
5. Go ahead and have children. If you're doing ##2-4, you can skip the non-having of children. Make life about love, not boosting these random new humans to the next higher rung above some other couple's random new humans.