Why the Rich Don't Give to Charity

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Why the Rich Don't Give to Charity

Postby protagonist » Fri Apr 05, 2013 1:57 pm

I recently came across this article in this month's Atlantic entitled "Why the Rich Don't Give to Charity"... it came to mind when reading a thread on this site about need for smartphones. No real connection, but it triggered something I suppose. http://www.theatlantic.com/magazine/arc ... ve/309254/

Among the findings (I didn't check the sources for accuracy):

- Those in the US in the top 20% income bracket give, "on average", 1.3% of their income to charity. Those in the bottom 20% give 3.2%. This is despite the lack of tax advantage for the lower income people, most of whom do not itemize on their tax returns.

- The rich tend to give to institutions that largely serve the privileged and educated, and often reward the donor with high profile name on something-or-other, whereas the poorer givers tend to give to social causes and the needy. The discrepancy is so great that, of the 50 largest donations to public charities in 2012, 34 went to educational institutions such as Harvard, Columbia, Berkeley, prep schools, that "cater to the nation's elite". Nine went to museums and art organizations (like the Metropolitan Museum of Art). The rest were "spread among medical facilities and fashionable charities like the Central Park Conservancy". "NOT A SINGLE ONE (my caps) went to a social-service organization or to a charity that principally serves the poor and the dispossessed".

This, to me, is a horrible commentary, and supports my own (anecdotal) experience with people donating.

Is this as disturbing to others as it is to me?

Any comments?

(This seems to me to be appropriate in a Personal Consumer forum since it is about how we choose to spend our money).
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Re: Why the Rich Don't Give to Charity

Postby Sheepdog » Fri Apr 05, 2013 2:03 pm

I could make comments on this as I give to charities and I know others who give, rich and not so rich, and others who don't give, rich and not so rich, but I won't, because this is commentary and not directly investing or personal consumer related. I feel that this is not appropriate here.
Jim
People should not say everything they think. They should think about everything they say.
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Re: Why the Rich Don't Give to Charity

Postby Leesbro63 » Fri Apr 05, 2013 2:16 pm

This is clearly lockable. I have some theories but cannot express them here.
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Re: Why the Rich Don't Give to Charity

Postby Mel Lindauer » Fri Apr 05, 2013 2:17 pm

Sheepdog wrote:I could make comments on this as I give to charities and I know others who give, rich and not so rich, and others who don't give, rich and not so rich, but I won't, because this is commentary and not directly investing or personal consumer related. I feel that this is not appropriate here.
Jim


Agree. This thread is locked.
Best Regards - Mel | | Semper Fi
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