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To: nickcarraway

Elizabeth Warren made sort of the same argument in her book The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke” (2003)

Of course she does not make the argument that women not work or that women should be paid less, but she does make the case that women entering the workforce upped the ante for everyone in terms of what income it takes to have a middle class lifestyle. She also argues it got rid of a safety net that middle class families had (that in a pinch the wife could take on a job to smooth out the rough spots). With 2 income families, people spend the total of what they make (and then some going into debt) so that if one of them gets sick or loses a job the family finances are in big trouble.

It’s a very logical thesis but she doesn’t ever talk about it now, it would be too politically incorrect.


30 posted on 02/19/2017 6:52:25 PM PST by Lorianne
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To: Lorianne
With 2 income families, people spend the total of what they make (and then some going into debt) so that if one of them gets sick or loses a job the family finances are in big trouble.

Add to that, in a macroeconomic sense it shifts the supply-demand curve to increase prices: particularly for big-ticket family friendly items like (back then) station wagons (now vans), and homes.

Compound that by the emergence of credit (including 30-year mortgages when they used to be 7 years)...and a LOT gets priced out of reach for the single breadwinner family.

All by design: and yet indirectly so the oh-so-clever plotters can posture "Who, ME?" when called on it.

31 posted on 02/19/2017 10:28:07 PM PST by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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