Social inequalities have been long lasting theme in American Society. The struggle for the working class to survive continues to be troublesome for Americans. The lower working class gives more money to charity than wealthier Americans. Is there something wrong with this situation? Why do lower income earning individuals donate more than wealthy business owners making more than $200,000 a year?
According to a new analysis of Internal Revenue Service tax returns researchers at the Chronicle of Philanthropy, ” The wealthiest Americans — those who earned $200,000 per year and over — actually reduced the share of their income they gave to charity by 4.6% in 2012, compared to the amount they gave in 2006.”
People with a low income may give more of their earnings to charity because they know that they could potentially suffer even more financially. It is interesting to see where wealthier Americans distribute their charity contributions. They donate to colleges, art museums, opera and hospitals very generously,” says Stacy Palmer, editor of The Chronicle of Philanthropy. The social responsibility of wealthier Americans should increase when it comes to charity donations.
Picture by philanthropistlist.com