Under our government's definition of "poor" you can have a $5 million net worth, a $300,000 home and a new $90,000 Mercedes, all completely paid for. You can also have a maid, cook, and valet, and a million dollars in your checking account, and you can still be officially defined by our government as "living in poverty."
To determine whether or not some poor soul is "living in poverty," the government measures one thing -- just one thing. Income. It doesn't matter one bit how much you have, how much you own, how many cars you drive or how big they are, whether or not your pool is heated, whether you winter in Aspen and spend the summers in the Bahamas, or how much is in your savings account.. It only matters how much income you claim in that particular year. This means that if you take a one-year leave of absence from your high-paying job and decide to live off the money in your savings and checking accounts while you write the next great American novel, the government says you are living in poverty."
