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Originally posted by Macrento
"For my part, I would say that anyone who does not own a fairly substantial amount of income-producing property or does not receive an earned income sufficiently large to make substantial regular savings or does not hold a well-paid securely tenured job is poor. He may be healthy, handsome and a delight to his friends --but he is poor. By this standard at least 70 percent of Americans are certainly poor, although not all of these by any means are are destitute or poverty-stricken. But, as was shown in the 1930's, Americans can become destitute overnight if deprived of their jobs, a strong support to mindless conformity. As a matter of fact, many persons in rather well-paid jobs, even executives, from time to time find themselves jobless owing to job discontinuance by reason of mergers, technical innovation or plant removal. Unable to get new jobs, they suddenly discover, to their amazement, that they are really poor, and they also discover by harsh experience, to what specific conditions the word 'poverty' refers. And even many of those who never lose their jobs often discover in medical and similar emergencies that they are as helpless as wandering beggars. They are, in fact, poor. In such eventualities the man of property is evidently in a different position. He is definitely not poor. And this is all I say."
[edit on 10-3-2005 by Macrento]