The Two-Income Trap: Why Middle-Class Parents Are (Still) Going Broke by Elizabeth Warren, Amelia Warren Tyagi |, Paperback | Barnes & Noble
The Two-Income Trap: Why Middle-Class Parents Are (Still) Going Broke

The Two-Income Trap: Why Middle-Class Parents Are (Still) Going Broke

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by Elizabeth Warren, Amelia Warren Tyagi
     
 

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With a new introduction by the authors, Senator Elizabeth Warren and consultant Amelia Warren Tyagi, this 2016 edition of The Two-Income Trap shows that the middle class remains entirely out of reach for many.

“A startling account of the elusiveness of the American Dream.” —Time

“A wonderful book. . . . Revelatory.”

Overview

With a new introduction by the authors, Senator Elizabeth Warren and consultant Amelia Warren Tyagi, this 2016 edition of The Two-Income Trap shows that the middle class remains entirely out of reach for many.

“A startling account of the elusiveness of the American Dream.” —Time

“A wonderful book. . . . Revelatory.” —Paul Krugman, New York Times

“Brimming with proposed solutions to the nail-biting anxiety that the middle class finds itself in.” —Wall Street Journal

“A well-researched road map of where we are, as well as viable escape routes.” —Boston Globe

Editorial Reviews

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. (Sept.) Forecast: The authors are hitting on issues felt by many Americans, and this book-with an author tour and 40-city radio satellite tour-is sure to be discussed. But its bleak warning may not drive readers to the bookstands. Copyright 2003 Reed Business Information.

Product Details

ISBN-13:
9780465097708
Publisher:
Basic Books
Publication date:
04/12/2016
Edition description:
Revised and Updated Edition
Pages:
288
Sales rank:
292,823
Product dimensions:
5.40(w) x 8.20(h) x 0.80(d)

Meet the Author

Elizabeth Warren is the senior senator from Massachusetts. The former Leo Gottlieb Professor of Law at Harvard Law School, Warren lives in Cambridge, Massachusetts.

Amelia Warren Tyagi is the cofounder and president of Business Talent Group. Tyagi lives in Los Angeles, California.

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