Thomas Sowell uses the occasion of a Business Week editorial to skewer the many myths surrounding the notion of the 'working poor'. One by one, Sowell offers convincing counterpoints to every myth promoted by the May 31 editorial. We've heard it often enough: The 'working poor' are hopelessly stuck at the bottom of the income scale.
In the first place, Sowell notes that the common definition of working poor, which happens to include part-time and under-25 employees is misleading. He then goes on to demonstrate that the vast majority of those who fit a reasonable definition of working poor (work full time, income under $19,000) at a given point in time do not remain at that income level for long.
Business Week should know better.
There's much more; read it when you get a chance.
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