Monday, December 19, 2005

Shocking!

Rich people are stingy?! Surely not...next you'll be suggesting that capitalism can't cure all the world's ills...

1 comment:

Anonymous said...

Hmm...not sure I understand exactly how this "study" works. Let me see, if I make $100K, give $1,000 in donations and invest $1,000, then my "generosity rating" is 100% but if I make the same 100K, donate the same $1,000 but invest $2,000, then my rating drops to 50%? And just to be clear, it doesn't matter how much of my money I blow on personal property like furniture, art, a really hot pad, a new car, $300 jeans, a grey market Xbox 360, or anything else rich under-35s might (hypothetically, of course) spend on?

Maybe the shocker here is that young people who make more money just might invest more of the money than those budding 28-year-old philanthropists making a paltry $50K a year.

Tangentially, I wonder why the "study" didn't use the NY-Times approved "tax cut appropriation" counting method to calculate charitable giving. That is, count up the total amount donated to charity and then calculate how much of the total is donated by the wealthiest 1%. Those bastards get all the breaks...

Also, wonder what happens when the rich people turn 35. Couldn't find the full study under the link to find out. However, all very interesting findings from a "philanthropic research organization that...has been encouraging the most prosperous Americans to give more." I'm sure they did their scientific best.