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Why Middle-Class Parents are Going Broke
Basic Books
August 2004
On Sale: August 17, 2004
255 pages
ISBN: 0465090907
EAN: 9780465090907
Trade Size (reprint)
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Non-Fiction
In this revolutionary expose, Harvard Law School bankruptcy
expert Elizabeth Warren and financial consultant Amelia
Tyagi show that today's middle-class parents are
increasingly trapped by financial meltdowns. Astonishingly,
sending mothers to work has made families more vulnerable to
financial disaster than ever before. Today's two-income
family earns 75% more money than its single-income
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
America's suburbs, driving up the cost of keeping families
in the middle class. The authors show why the usual
remedies-child-support enforcement, subsidized daycare, and
higher salaries for women-won't solve the problem. But as
the Wall Street Journal observed, "The book is brimming with
proposed solutions to the nail-biting anxiety that the
middle class finds itself in." From Senator Edward M.
Kennedy to Dr. Phil to Bill Moyers, The Two-Income Trap has
created a sensation among economists, politicians, and
families-all those who care about America's middle-class
crisis.
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