30 Mar '13, 8pm

Think the Rich Are Charitable? Think Again

Think the Rich Are Charitable? Think Again

When you think of charity, you probably think of rich benefactors stepping in to aid a noble cause. Yet it turns out that the rich aren’t nearly generous as the poor. In fact, America’s poorest people donate to charitable organizations at more than twice the rate of America’s richest citizens . According to new research, the richest 20% only donated 1.3% of its income to charity, while the poorest 20% gave 3.2%. Once you take into account that the wealthiest are able to write-off a lot of these donations on their annual taxes, while the poorest do not even itemize such things, the discrepancy is that much more glaring. The Atlantic summarized this study, as well as a few others that reached similar conclusions. The publication also cited a study by The Chronicle of Philanthropy , which examined charitable donations by zip code. The research found that residents of poverty-...

Full article: http://www.care2.com/causes/think-the-rich-are-charitable...

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