The email sent will contain a link to this article, the article title, and an article excerpt (if available). For security reasons, your IP address will also be included in the sent email.
By David Morris, On the Commons
This is the giving season and we Americans are prodigious givers. Nearly two thirds of us donate to charities each year. This year we will send more than $225 billion to charities. More than a quarter of this giving will occur in December.
Those are the bare facts. But this year, when the stark divide between the 1% and the 99% has begun to inform our thinking and our approach, it might be instructive to examine the world of giving through that lens.
How The 1% Differs
Unsurprisingly, the 99% are much more generous than the 1%. Households earning less than $25,000 give away twice as much as richer households as a fraction of their income. The disparity is even greater given that many if not most of the 99% do not itemize their tax returns and therefore do not take a tax deduction for charitable contributions.
To discover what motivates giving Paul K, Piff, a PhD candidate in social psychology at University of California carried out a series of experiments. He discovered that people earning $15,000 or less are more generous, charitable, trusting and helpful to others than those earning more than $150,000.
The 99% tend to give primarily to their church. Giving by the 1%, on the other hand, according to Judith Warner writing in the New York Times “was mostly directed to other causes—cultural institutions, for example, or their alma maters—which often came with the not-inconsequential payoff of enhancing the donor’s status among his or her peers.”
Return to Article