USA rich are indeed different
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At least, so say various surveys of the affluent. Among the most notable differences:
According to Spectrem Group. Still, households with $500,000 or more in investible assets gave away 6% of their incomes in 2004, and those with
net worth of $5 million, excluding primary residences, contributed 6.1% of their incomes. That compares to an average of about 2% for all
American households and 4% for households with incomes under $25,000, according to American Demographics.
"Our clients appreciate the success that they've had and they want to pay it forward in some way," said financial planner Ross Levin of
Edina, Minnesota. "We have one client, a developer and his wife, who give away 50% of their income."
ASK replied on Thursday, July 17, 2008 04:53 AM
I dont want to undermine those who genuinely give but there is another aspect to it.
Donating part of your income reduces your income taxes and carefully calculated donations sometimes increase the Net income instead of decreasing it due to reduced Income/Corporate Tax rates and reduced taxable income. |
