Right Data

“IF rich people just gave philanthropy some thought they’ll realize it’s the right thing to do.” Obviously Ted Turner thinks rich people neither think—nor do—much about giving. He is wrong. Individuals earning $1 million and more donated an average of $101,674, or 3.9 per cent of income, in 1995; the rest of us gave $1,950, or 2 per cent, on average, according to Giving USA 1997, a publication of the AAFRC Trust for Philanthropy. But while the rich contribute more than their share, the preponderance comes from ordinary folks. About 70 per cent of all American households contribute.

And there’s no escaping this truth: the amount we give is inextricably linked to the amount we get. Private giving dipped as low at 1.7 per cent during the high-tax, high-inflation years of the 1970s before rebounding during the supposedly greedy Eighties. Policies aimed at raising economic growth almost automatically increase giving.

ER

About the Author

Ed Rubenstein

Featured Tags

“IF rich people just gave philanthropy some thought they’ll realize it’s the right thing to do.” Obviously Ted Turner thinks rich people neither think—nor do—much about giving. He is wrong. Individuals earning $1 million and more donated an average of $101,674, or 3.9 per cent of income, in 1995; the rest of us gave $1,950, or 2 per cent, on average, according to Giving USA 1997, a publication of the AAFRC Trust for Philanthropy. But while the rich contribute more than their share, the preponderance comes from ordinary folks. About 70 per cent of all American households contribute.

And there’s no escaping this truth: the amount we give is inextricably linked to the amount we get. Private giving dipped as low at 1.7 per cent during the high-tax, high-inflation years of the 1970s before rebounding during the supposedly greedy Eighties. Policies aimed at raising economic growth almost automatically increase giving.