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The TwoIncome Trap: Why MiddleClass Parents are Going Broke
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In this revolutionary expos, Harvard Law School bankruptcy expert Elizabeth Warren and financial consultant Amelia Tyagi show that todays middleclass parents are increasingly trapped by financial meltdowns. Astonishingly, sending mothers to work has made families more vulnerable to financial disaster than ever before. Todays twoincome family earns 75% more money than its singleincome counterpart of a generation ago, but has 25% less discretionary income to cover living costs. This is the rare financial book that sidesteps accusations of individual wastefulness to focus on institutional changes, raved the Boston Globe. Warren and Tyagi reveal how the ferocious bidding war for housing and education has silently engulfed Americas suburbs, driving up the cost of keeping families in the middle class. The authors show why the usual remedieschildsupport enforcement, subsidized daycare, and higher salaries for womenwont solve the problem. But as the Wall Street Journal observed, The book is brimming with proposed solutions to the nailbiting anxiety that the middle class finds itself in: subsidized day care, school vouchers, new bank regulation, among other measures. From Senator Edward M. Kennedy to Dr. Phil to Bill Moyers, The TwoIncome Trap has created a sensation among economists, politicians, and familiesall those who care about Americas middleclass crisis.
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