Williams & Sowell – Occupy Wall Street & Poverty

A few recent pieces from two of the greatest minds of our time.

First, Dr. Williams on poverty.

Poor are richer in America – Walter Williams: Imagine you are an unborn spirit whom God has condemned to a life of poverty but has permitted to choose the nation in which to live. I’m betting that most any such condemned unborn spirit would choose the United States. Why? What has historically been defined as poverty, nationally or internationally, no longer exists in the U.S. Let’s look at it.

Poverty in America? by Walter E. Williams: According to CBS News, “the number of people in the U.S. living in poverty in 2010 rose for the fourth year in a row, representing the largest number of Americans in poverty in the 52 years since such estimates have been published by the U.S. Census Bureau.” MSNBC said, “The U.S. poverty rate remains among the highest in the developed world.” Let’s look at a few poverty facts.

And an interview with Dr. Sowell, he also talks about Occupy Wall Street.

Thomas Sowell Interview Part 1: Occupy Wall Street: Thomas Sowell has just released “The Thomas Sowell Reader,” a collection of writings from the seemingly endless books and columns he has written over the years. Sowell recently took time to do an interview with IBD about the “Reader” and current events.

Thomas Sowell Part 2: Occupy Higher Education: They’ve gotten their money’s worth because it is mostly other people’s money that has paid for their education. But do I think that taxpayers have gotten their money’s worth? By no means. Taxpayers are paying something like $10,000 per student per year and you end up with people who are absolutely incoherent. It’s unbelievable. Every interview I’ve seen of these protesters, they can’t string together three sentences that make any coherent sense.

Thomas Sowell Part 3: Income Inequality And Economic Myths: The other thing is that most people who are in the top 1% in income are there only one year. Over a period of about a decade the IRS tracked these people by Social Security numbers. Something like two-thirds of the people who were in the top 1% during that decade were in there one time. Only 13% were in there two years. Pundits talk about these income brackets as if they are enduring classes of people when they are simply transient snapshots of people who happen to be there right now.

Additional links:
Walter Williams Asks: Is It Theft?
Two Must-Reads on Income Inequality