A study out of Harvard University focusing on tax credits and other tax expenditures has caused 24/7 Wall St. to declare that America has 10 cities where the poor just can’t get rich. Among the reasons that economic upward mobility is so minimal in these cities: horrible public education (leading to high dropout rates) and being raised in single-mother households. What these cities share is an economic segregation: two distinct classes of people, with virtually nothing in common.
However, it seems not only bold but disingenuous to say that there “are cities where the poor cannot get rich.” Is it tough? Yes. Is it impossible? Of course not. In A Field Guide to the Hero’s Journey, entrepreneur Jeff Sandefer tells how he made his first job work for him. It wasn’t glamorous. (more…)