American Middle Class - Book Report/Review Example

Only on StudentShare

Extract of sample
American Middle Class

The bankruptcy bill passed on April20,2005 by the Bush administration merely strengthens the idea that the American middle class is made up of greedy, irresponsible people, who prefer to file for bankruptcy in stead of repaying their debts, and who think bankrupts lead a carefree life. The press too adds to this note of gloom saying that people spend more on luxury goods and on bigger and fancier houses and cars that they can ill afford. The critics also say that there is more competition among neighbors to own the best branded goods, while at the same time the altruistic instinct of supporting education or culture has diminished.
Economic data of present times show that families now have more money to spend as more members are earning. The typical two income family of the present where both the husband and wife are earning make75 percent more than what a typical family of the last generation
earned. Although they have more to spend, their savings have drastically fallen. They are the educated class, having decent jobs, but they find it difficult to pay their medical bills. Filing for bankruptcy has increased drastically among this class.
Warren and Tyagi argue that the reason for the financial crisis among the middle class is not their spendthrift habits, but that they have to s ...
Download paper

Summary

Elizabeth Warren and Amelia Warren Tyagi have made a strong case for the much maligned middle class in their book. The doomsday pundits of "Affluenza" quote a string of figures and data calculated to show the irresponsibility and callousness of the middle class…
Author : ezboncak

Related Essays

Middle Class Struggles Critique
The final agreement was that one spouse could hold on to some money ranging from $19,000 to $95,000 according to the state. The law makers gave one spouse the right to refuse any financial obligation thereby shifting the partner's responsibility to the Medicaid.
...
2 pages (502 words) Essay
Class Matters and The Two Income Trap
corporations started to transfer production jobs and service jobs to low-wage workers. Along with that, in many Third World countries of export-oriented development strategies made the global market for both skilled and unskilled labor to grow bigger. Reducing the cost of such imports as toys from China and shoes from Indonesia, it destroyed the jobs. Unfortunately, every sector from foreign competition, an ever growing number of manufacturing and service jobs were eliminated by technological innovations, which is a trend that will probably prove even more important than globalization over...
5 pages (1255 words) Book Report/Review
Middle Class Societies Of America And England
Therefore Roosevelt became the first president to support the labor and assigned the government a direct role and duty to all the people.
...
8 pages (2008 words) Essay
Middle Class
In the British Social Attitudes review of 1996, two-thirds, of respondents decided "there is single law for the rich and single for the poor" while 87% alleged that " the space between those with and lofty earnings is excessively great". However many scholars have disputed that, in its sternest wisdom, class in Britain is at the present dead and some have yet disputed that it is dead in any hypothetical sagacity. But I will disagree that no matter class no further lives in Britain but there is a sturdy practical function to play of class in Britain.
...
6 pages (1506 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!