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And, yes, I DO take it personally: Why is it not surprising that the super-rich are less generous than the rest of us...?
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Monday, December 19, 2005

Why is it not surprising that the super-rich are less generous than the rest of us...?

i'm of the opinion that bush's so-called "ownership society" actually promotes selfishness and the "i've-got-mine-too-bad- for-you" mentality...
Working-age Americans who make $50,000 to $100,000 a year are two to six times more generous in the share of their investment assets that they give to charity than those Americans who make more than $10 million, a pioneering study of federal tax data shows.

The least generous of all working-age Americans in 2003, the latest year for which Internal Revenue Service data is available, were among the young and prosperous - the 285 taxpayers age 35 and under who made more than $10 million - and the 18,600 taxpayers making $500,000 to $1 million. The top group had on average $101 million of investment assets while the other group had on average $2.4 million of investment assets.

On average these two groups made charitable gifts equal to 0.4 percent of their assets, while people the same age who made $50,000 to $100,000 gave gifts equal to more than 2.5 percent of their investment assets, six times that of their far wealthier peers.

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