The Two-Income Trap: Why Middle-Class Parents are Going Broke

3.85 avg rating
( 1,448 ratings by Goodreads )
 
9780465090907: The Two-Income Trap: Why Middle-Class Parents are Going Broke
View all copies of this ISBN edition:
 
 

In this revolutionary exposé, 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: subsidized day care, school vouchers, new bank regulation, among other measures." 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.

"synopsis" may belong to another edition of this title.

About the Author:

Elizabeth Warren is the Leo Gottlieb Professor of Law at Harvard Law School. She is the co-author of As We Forgive Our Debtors and The Fragile Middle Class, as well as three leading commercial law casebooks. She is vice-president of the American Law Institute, and served as Chief Advisor to the National Bankruptcy Review Commission. She lives in Cambridge, Massachusetts.

Amelia Warren Tyagi has worked as an Engagement Manager with McKinsey and Company, specializing in health care, insurance, and education, and she co-founded the successful healthcare start-up HealthAllies. She lives in Pacific Palisades, California, with her husband and two-year-old daughter, Octavia.

From Publishers Weekly:

Warren, a law professor at Harvard (The Fragile Middle Class) and her daughter Tyagi, a former McKinsey consultant, have joined forces here to argue here that the two-parent middle-class working family is on the brink of financial disaster. The number of families declaring bankruptcy or receiving a foreclosure against their house has shot up dramatically. Presenting carefully researched economic data to support their arguments, the authors contend that, contrary to popular myth, families aren't in trouble because they're squandering their second income on luxuries. On the contrary, both incomes are almost entirely committed to necessities, such as home and car payments, health insurance and children's education costs. When an unforeseen event such as serious illness, job loss or divorce occurs, families have no discretionary income to fall back on. The authors recommend a number of useful societal solutions to get families out of this trap, such as legally prohibiting credit card companies from charging grossly unfair interest rates and exposing banks that employ a loan-to-own strategy that steers minority customers to higher mortgage rates with an eye to future foreclosures. Warren and Tyagi point out that families buy homes they cannot afford in order to live in a neighborhood with better schools. Their proposed solution, however-to institute a public school voucher system with wider choice-is less carefully thought out. Overall, however, this is a needed examination of an emerging social problem.
Copyright 2003 Reed Business Information, Inc.

"About this title" may belong to another edition of this title.

Other Popular Editions of the Same Title

9780465090822: The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke

Featured Edition

ISBN 10:  0465090826 ISBN 13:  9780465090822
Publisher: Basic Books, 2003
Hardcover

Top Search Results from the AbeBooks Marketplace

1.

Elizabeth Warren, Amelia Warren Tyagi
Published by Basic Books (2004)
ISBN 10: 0465090907 ISBN 13: 9780465090907
New Paperback Quantity Available: 1
Seller:
Ergodebooks
(RICHMOND, TX, U.S.A.)
Rating
[?]

Book Description Basic Books, 2004. Paperback. Condition: New. Reprint. Seller Inventory # DADAX0465090907

More information about this seller | Contact this seller

Buy New
US$ 26.82
Convert Currency

Add to Basket

Shipping: US$ 4.99
Within U.S.A.
Destination, Rates & Speeds

2.

Warren, Elizabeth; Tyagi, Amelia Warren
Published by Basic Books
ISBN 10: 0465090907 ISBN 13: 9780465090907
New PAPERBACK Quantity Available: 1
Seller:
London Bridge Books
(London, United Kingdom)
Rating
[?]

Book Description Basic Books. PAPERBACK. Condition: New. 0465090907 Dispatched from London. Seller Inventory # Z0465090907ZN

More information about this seller | Contact this seller

Buy New
US$ 20.28
Convert Currency

Add to Basket

Shipping: US$ 14.77
From United Kingdom to U.S.A.
Destination, Rates & Speeds

3.

Warren, Elizabeth, Tyagi, Amelia Warren
Published by Basic Books (2004)
ISBN 10: 0465090907 ISBN 13: 9780465090907
New Paperback Quantity Available: 2
Seller:
Murray Media
(North Miami Beach, FL, U.S.A.)
Rating
[?]

Book Description Basic Books, 2004. Paperback. Condition: New. Never used!. Seller Inventory # P110465090907

More information about this seller | Contact this seller

Buy New
US$ 42.03
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

4.

Elizabeth Warren; Amelia Warren Tyagi
Published by Basic Books (2004)
ISBN 10: 0465090907 ISBN 13: 9780465090907
New Softcover Quantity Available: 1
Seller:
Irish Booksellers
(Portland, ME, U.S.A.)
Rating
[?]

Book Description Basic Books, 2004. Condition: New. book. Seller Inventory # M0465090907

More information about this seller | Contact this seller

Buy New
US$ 107.27
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

5.

Elizabeth Warren; Amelia Warren Tyagi
Published by Basic Books (2004)
ISBN 10: 0465090907 ISBN 13: 9780465090907
New Softcover Quantity Available: 1
Seller:
Irish Booksellers
(Portland, ME, U.S.A.)
Rating
[?]

Book Description Basic Books, 2004. Condition: New. book. Seller Inventory # MB010WF8W0C

More information about this seller | Contact this seller

Buy New
US$ 107.27
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds