Brilliant as always Dr. Sowell. However, the answer to the question of why they are called poor has an intermediate step crucial to the political calculus. They are "poor" because they are in the bottom income quintile or the bottom 10% of wealth holders or whatever statistical abstraction is handy for the politician at the moment. They might fantasize about a mythical 99% that can be easily manipulated for their purposes but, in reality, they only need 51%. We might be circling the drain but, Obama is gonna get trounced in Nov. Better luck next time guys although you may not need it at the rate we are going. Swirling ever closer as the people declare their willingness to buy a slick image. As seen on tv is good enough.