New Yorkers can be forgiven for shock at the newspaper headlines last week informing them that millions more of them were “near poor” or “low income.” They might relax a bit on learning that the “root cause” is simply new definition of poverty from the Census Bureau. Indeed, under the Census definition, a family in New York City is “near poor” if it has full medical insurance and an annual income below $77,000. (In Oakland, Calif., the figure is $88,000!) The Census report actually put nearly half the US population as “low income” — and news stories typically implied the...