JLF Triangle Blog

When Will Somebody Do Something About These Rotten Rich People

They don’t pay their “fair share” of taxes, and today I’ve learned this. You know, they just don’t care about anybody but themselves.

The 2012 Bank of America Study of High Net Worth Philanthropy found that average giving as a percentage of household income stayed stable at around 9% between 2009 and 2011. Between 2007 and 2009, that percentage had slipped two percentage points.

The survey polled 700 U.S. households with a net worth of $1 million or more (excluding their primary residence) and/or an annual household income of $200,000. The survey has been released every two years since 2006.

“Philanthropy animates the wealth experience in the way that material acquisitions can’t,” says Claire Costello, philanthropic practice executive for U.S. Trust, Bank of America Private Wealth Management. “There’s an impulse to want to do this and to involve their children in this process” – despite a weak economy.

It’s just not fair.

Leave a Reply

........As you post your comment, please conform to Right Angles's simple comment policy: we welcome all perspectives, but require that comments be both civil and respectful. If you wouldn't say it to a co-worker in front of your boss, it probably is not civil and respectful. We will delete any comment that fails this test and issue a warning to the poster. A second offense will result in a ban on commenting on this site. In sum, disagreements, arguments even, are welcome; abusive behavior is not. Thanks.

You must be logged in to post a comment.

November 2014
M T W T F S S
« Oct    
 12
3456789
10111213141516
17181920212223
24252627282930

RSS Feeds

Archives

JLF Network Websites & Blogs