DEEP THOUGHTS….Noodling on the latest poverty figures, Mickey Kaus says that we may be overcounting the poor. He suggests two corrections. First, don’t count new immigrants, and second:
Don’t count affluent people who, by reason of their affluence, are able to take off a year with no income and therefore show up as “poor” in the income stats….You’d think the number of idle-affluent who earn no income and show up as “poor” would be increasing (as the rich get richer!). But if that’s true then these people are making the “poverty rate” appear worse than it really is. If they’re idle enough ? zero income, despite lots of assets ? they’ll even show up as “deep poor.”
Yep, that’s our problem: Thanks to skyrocketing income inequality, the idle rich are more idle than ever! Get those bums off the poverty rolls!