But philanthropy of the wealthy may not hinge on tax incentives to the degree many believe. In one new survey, a majority of wealthy givers say they will contribute the same amount if the estate tax were abolished, These disparate studies are shedding light not just on who gives, but also on why they give, and what their actions mean to society. Experts say that by understanding charity better, American can learn how to encourage more giving. The result will probably be a healthier and wealthier society.
One thing that long been known: the U.S. beats the world in levels of charitable activity. The pattern runs from the rich, steeped in long tradition of philanthropy to the poor. Those making 20,000 dollars or less a year give away more as a share of their income than do higher income groups. Americans donate their time as well as money, some 150 billion dollars?worth annually.
Some experts see charity as a defining trait of the US more than consumerism and business. But those forces may be intertwinedor one thing, many non-profits, from healthcare to classical music, are selling services in the marketplace alongside for-profit rivals. By many measures they are successful. As personal incomes rise in a given county, the income of non-profits seems to rise even faster, says an associate economist at a Federal Reserve Bank at Minneapolis. They suggest that not-for-profit activities are what economists call superior good? something people want to buy more of, or donate more to, as their incomes rise. Yet ties between charitable adventures and the economy hardly end there. Doctor Brooks points to evidence that charity is no mere peripheral activity. It pays off a society in ways that may transcend the rates of return on many traditional investments. Why? Firstly, it not just that charity helps those on the receiving end, says Brooks, ..... |
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