Tax day is upon us. Did you reduce your tax burden this year by giving to charity? According to our next guest, the answer to the question might depend on your tax bracket.
Ken Stern has written a piece in the Atlantic about who gives to charities and why he thinks the poor end up giving more than the rich. He argues that the lowest-income Americans not only donate a greater percentage of their earnings than the richest Americans, they also tend to give to organizations that provide social services. In contrast, he argues, the wealthy tend to support colleges, universities, arts organizations, and museums. In addition, he wonders if the poor are simply more empathetic than the rich.
The piece is called Why the Rich Don’t Give to Charity. Stern is author of the book With Charity for All: Why Charities are Failing and a Better Way To Give.