WHEN THE super-rich make charitable donations, their philanthropy is often met with scepticism, or even hostility. In April Jeff Bezos, the boss of Amazon, an e-commerce giant, donated $100m to American food banks. Rather than commend Mr Bezos, many criticised him for giving too little, or for trying to divert attention from his company’s treatment of workers.
As a proportion of income, the results are much more even: most households gave about 1.5% of their income. There was a tendency for higher-earning households to give a greater share—albeit with marked differences among the very poorest ventile and the richest one
Percentage given by the rich bound to be higher since they have more disposable surplus in actual terms. Expenses don’t rise as a percentage of income. Moreover the wealth cushion is high for the rich
Does the Art Foundation set up by Dad to purchase rare coins tax free, and pays Daughter $50k for a board meeting once a quarter count as Charity?
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Keep your false charity. We want livable wages, health care, and education.
1. Define 'rich.' 2. The WEALTHY surely do not unless it furthers their wealthy friends' advancements under the guise of charity.
Because they get a tax write off. This is more about the system of taxation than it is about generosity.
progressive taxation should be fine then
Wow, I could’ve told you that.
How odd.
They also pay way more taxes
I hope the rich Indians are also humane beings.
Fake news
Poppycock!
who care
Is it heartfelt generosity or is it directed ultimately for self gain? Tax gain, influence, propaganda ...?
Their charities are symphony orchestras, university endowments, and such ego-stroking organizations. Why not include that information? They also have all the money, are not deciding rent, medicine or food every month.
Lol dunce. I want to retweet this but I don't want to retweet this.
The rich shouldn’t donate, they should l pay their taxes. Otherwise everyone should have the option to choose if they want to “donate” to governments or rather, set up offshore accounts or register as a citizen in one country with low tax rates whilst living in another.
Well, rich people can afford to give to charity, others, less so.
Yes because the USA has the highest inequality, and even then the proportion of wealth donated isn’t great. Philanthropy isn’t a sustainable force and can change with business climate, culture, etc.
Think the graph on the right explains the problem.
Did u watched 'Parasite', filha da puta ?
Because they create tax free foundations where they can preserve their wealth and keep paying huge salaries to their heirs for generations? And with their foundations they can choose the cause can better pursue their agenda by supporting the right politician?
It would be interesting to see this data layered on top of the total taxes that America’s rich pay. Is it true that when you combine taxes and charitable given that America’s rich contribute more to the good of society than any other countries rich?
Tax the rich.
Because some rich people & billionaires are more cleverer e.g like Frederich Engels.He helped K. Marx to write 10 volume “Das Capital” in an attempt to explain the capitalist society they were in. Nobody can deny that he was much more cleverer than Malthus.They were both English.
Maybe because they have more money. Note that they give only a percentage unit more of their income than poor people. Mark 12:41-44.
Percent of disposable income may be a more meaningful measure.
Are you Serious!!!...
Pero pagan los impuestos en la misma proporción que lo paga alguien con nómina. Lo dudo!
Isn't that the whole idea of charity? The rich donating to the poor?
As a percentage of income ordinary people donate more to charities and also pay more tax.
This is so stupid
Yeah, but...the taxes though
.,.guilty conscience? Give back some crumbs to the people they stole from. nice.
If they are so willing to give to charity, why don’t they want to be taxed more?
It's philanthropy, Americans who've done well, or inherited, know they are advantaged by living in America, receiving a good education & advantages they may not have received elsewhere, want to give back. Unlike many Australians, where middle & lower income earners donate most.
Definitely not in UK. Poor are raising money while rich are declaring themselves bankrupt and thinking of bail out from government.
They are also more likely to pay less tax than what rich people pay in other parts of the world. If you want to be accurate you need to present the whole picture. Otherwise you are just promoting your agenda.
Shredding this horrific content further, Bezos current net worth is near $138B. Highly likely he could, in 30 days or less, draw 9% liquidity, and there are so many good reasons to do it. Cut that in half; ~$6B. DECLINE charitable contribution. Betcha he won't.
Bad timing. Update this lame content same time in 2021. Because repurposing content is the gig anyway. Betcha won't
Ohhhh what if.. Hear me out here, we make it systematic and recurrent like I don't know every year and make sure it's distributed where it is needed not to bail the said rich and their businesses or go to war but more to education and Healthcare for all. I know it's crazy.
And they hardly pay any taxes🤫
The data isn't ENTIRELY consistent. Being wealthy doesn't actually mean you give more according to other data.
Are studies like this still getting punished? Cause I got some shower thoughts I think would be just as valuable 🤷🏼♀️
Uhhhhhh.........
Tax write offs drive behavior
It’s not how much you give away that measures your generosity. It’s how much you keep. How much is enough?
People with money can give and give more to the causes they care about. Who didn't know this?
No shit Sherlock
well the amount given, as a % of income, is practically flat but the more and more money you make, the more disposable income you have
Duh.
Breaking! Now we know that the 1% donate to the causes of the 99% (the exception is a very famous very loud one and his family)..
Yes I wonder why people with heaps of disposable income can dispose of said income in the form of a donation more than people without disposable income🤔🤔🤔?
Like Trump donated to himself?
Watch parasite.
Definitely needed a paper to prove this. What a profound, unexpected finding.
Isn’t that obvious?
It's because they have all the money? Maybe we should just tax them instead 🤔🤔🤔
Yeah because they get to WRITE IT OFF THEIR TAXES
Everyone is talking about taxes, but anyone else notice how much the amount ramped up after it hit the top 5%
That’s because they have more fucking money. And they get substantial tax breaks.
Now do it as a proportion of “money they don’t need” or just “discretionary spending”. Suspect it would slope in the other direction
'People with toes more likely to stub them!' Dumbasses.
I wonder why
Curious. My experience in Argentina as an informal worker --before I entered the wonderful world of software engineering-- is the opposite. I remember walking through the poor neighborhoods selling stuff because they were more open to buy whatever cheap crap I was selling ATM
i do not care
How about creating a system whereby people don’t have to depend on the benevolence of the super-wealthy to get by, in the first place? Less super-wealthy people, less suffering. Added bonus of creating happy people who happen to be more productive.
Well no shit...
In comparisons to the average american family (making $55-60k), I would hope so. They have more discretionary income
The only meaningful graph is the percentage of income graph. And even that may not be the right measure. How about percentage of net worth? Further has this been adjusted for fear of backlash. Philanthropy in the Gilded age was partially from such fear. 🤔
now do one on the american tax system.
NOT TRUE! From personal charity experience, the people who can least afford to contribute are the ones who will give the most. They are the people who recognize the need -because they have been there themselves. The rich haven’t a clue.
They typically give significantly less than the money they made cheating on their taxes. And then they get an additional tax break for their pity donations. It's a joke!
Sooooooooo common sensically obviously! What is not, is how ready they are to relinquishing their grips off the system that perpetuates need for charity, POVERTY. This pandemic exposing the fragility of our economic system is a callout for fairness, for those of understanding.
The first 98% of the piece argues that scrutiny of the rich's charity is misplaced, then the last sentence (two obviously true arguments) demolishes it all. Any idiot knows that a family earning $20K/year giving away $300 means more than a millionaire giving away $15,000.
It's all tax deductibility driven.
its not about how much they give, its about what they give it towards, charities are a bandaid, the solution is structural and I would say that if they truly wish to make a difference, Create adequate housing and infrastructure.
To their own foundations? Like Trump was 'generous' to his foundation?
Was the research commissioned by the rich?
Not enough for right problems so aye xxx
Who cares about charities that other rich people created to evade taxes? The measure is to look at income gap in America.. And the income gap in this country is widening at alarming rates.
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