The young and rich give less, study says

[question everything]

The young and rich give less, study says

Lower incomes are more generous

NEW YORK TIMES NEWS SERVICE

December 19, 2005

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 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 35 and under who made more than $10 million and the 18,600 taxpayers making $500,000 to $1 million. On average, the top group had $101 million of investment assets while the other group had $2.4 million of investment assets.

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 2.5 percent of their investment assets.

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Find this article at:
http://www.signonsandiego.com/uniontrib/20051219/news_1n19charity.html

[GrumpyGreg]

1. The rich are lousy tippers too. They feel entitled.

[Loonman]

2. Celebrities are lousy tippers and cheapskates

With a few exceptions. They want everything comped, wherever they go.

[anarch]

3. the richest people I know are also the biggest cheapskates

Sometimes I say to myself, "well that's why they're rich and you're not", but these are all people who inherited their wealth (such as it is...I don't know anybody all that rich, but it's relative). I don't know, it's odd. People who have always had everything handed to them don't understand what it's like to be truly in need...it's always, "those people should get off their asses and get a job...the lord helps those who help themselves" and so on, even though the jackasses saying it have never had to work a day in their lives.

[FreedomAngel82]

4. Well that's a

big duh. When you're my age (twenty-three) and rich you want to buy your own home, perhaps college education and all the latest gadgets.