Why doesn't America's rich donate more to charity

[Yarddog]

I do know President Trump donates large portions back to the US Treasury.

Trump doesn't really donate back to the Treasury. His company turns over some of the money which it makes from foreign profits, which could be a violation of the Emoluments clause of the Constitution, to the Treasury.

 

[redleghunter]

Trump doesn't really donate back to the Treasury. His company turns over some of the money which it makes from foreign profits, which could be a violation of the Emoluments clause of the Constitution, to the Treasury.

He's been donating his quarterly salary as POTUS. The latest in March 2019 he wrote out to DHS (which just goes into the Treasury):

It's a "big beautiful check, I'm here to tell ya. YUGE!"

Trump donates $100K from salary to DHS

Donald J. Trump on Twitter

 

[Yarddog]

He's been donating his quarterly salary as POTUS. The latest in March 2019 he wrote out to DHS (which just goes into the Treasury):
View attachment 256944

It's a "big beautiful check, I'm here to tell ya. YUGE!"

Trump donates $100K from salary to DHS

Donald J. Trump on Twitter

Considering the massive costs of his frequent trips to Mar-a-Largo, he is getting off extremely cheap.

 

[redleghunter]

Considering the massive costs of his frequent trips to Mar-a-Largo, he is getting off extremely cheap.

Mar-a-Largo needs a "Big Beautiful Wall!"

 

[Yarddog]

Mar-a-Largo needs a "Big Beautiful Wall!"

Yeah, to keep his undocumented immigrant staff of workers from escaping.

 

[redleghunter]

Yeah, to keep his undocumented immigrant staff of workers from escaping.

Just shows he has a heart.

 

[timothyu]

Does that mean that all wealthy folks are generous with their money? Unfortunately, no. But many are.

It probably has a lot to do with whether they are 'old money' or came from poor backgrounds.

 

[iluvatar5150]

Well, Robert Smith just announced that his family is providing grants in the amount of $40 million to wipe out the student debt of the entire 2019 class at Morehouse College. That sounds pretty generous to me. I was at a graduation a couple years back where the speaker donated $10 million to the school (yes, I got to touch the check). Does that mean that all wealthy folks are generous with their money? Unfortunately, no. But many are.

This was the only thread I could find mentioning Smith's donation to Morehouse, so I opted to resurrect it with this latest development that dovetails nicely with the OP's point about wealth and unethical behavior:

Smith just turned state's witness in the largest tax evasion case in history.
Texas billionaire Robert Brockman is charged with $2b tax fraud scheme | Daily Mail Online

 

[Silverback]

This was the only thread I could find mentioning Smith's donation to Morehouse, so I opted to resurrect it with this latest development that dovetails nicely with the OP's point about wealth and unethical behavior:

Smith just turned state's witness in the largest tax evasion case in history.
Texas billionaire Robert Brockman is charged with $2b tax fraud scheme | Daily Mail Online

Maybe he can hang out with Bernie Madoff

 

[Archivist]

This was the only thread I could find mentioning Smith's donation to Morehouse, so I opted to resurrect it with this latest development that dovetails nicely with the OP's point about wealth and unethical behavior:

Smith just turned state's witness in the largest tax evasion case in history.
Texas billionaire Robert Brockman is charged with $2b tax fraud scheme | Daily Mail Online

Donating money doesn’t make someone a good honest person.

 

[timothyu]

What God considers a 'good donation', is to give of ourselves. 'Things' are like cares of the world at the wayside.

 

[Fantine]

The rich are different. They like to have buildings and hospital wings named after them. They support museums and symphonies and culture. I love all those things, too, but I tend to support more urgent needs in my personal giving.

They also give "appreciated assets." They buy 100 sgares of stock at $50 A share. They donate the stock at $100 a share.1. They save capital gains on $5000, about $450 federal plus state. They are also able to deduct $10,000 from.their income. Let's say they are in the 20% bracket federally. They save another $2000 plus state.
They have spent 2 grand on.that 10 grand gift.

 

[RaymondG]

The rich are different. They like to have buildings and hospital wings named after them. They support museums and symphonies and culture. I love all those things, too, but I tend to support more urgent needs in my personal giving.

They also give "appreciated assets." They buy 100 sgares of stock at $50 A share. They donate the stock at $100 a share.1. They save capital gains on $5000, about $450 federal plus state. They are also able to deduct $10,000 from.their income. Let's say they are in the 20% bracket federally. They save another $2000 plus state.
They have spent 2 grand on.that 10 grand gift.

You mentioned a lot that the rich give and what they share. Is this supposed to be a praise to them, or an insult? If insult, would you rather that they donate nothing instead?

 

[Junia]

I know several Doctors, and a few others that people would consider "rich" these people worked hard, they sacrificed, practised self reliance, and made good choices. Because of this they have a very fine quality of life.

On average, at this point in their lives (middle age) they work 60+ hours a week, more if they have call. When they were younger, it was 70+ or more per week.

Additionally, between federal income tax, state income tax, city wage tax, property tax, plus other
tax, over 50% of there income goes to some level of government.

However, each have charities they support, and they are happy to do so.

It has become very fashionable in the United States to demonize the wealthy and successful, to accuse them of greed, selfishness, and non caring.

People who are able need to work, and need to do so for as many hours as necessary to make it in life, and not need charity.

Charity, should be a short term thing until people are back on their feet, and start working.

Hard work is the biblical norm, family is the first level of charity, the church is second.

In the old testament it talks about not harvesting the edges of your field, and not going over your field a second time, so the poor have something to eat. But, the poor had to get up, and go there to eat, and they could not take anything home. In short...they had to work for it.

NGO charities are fine, but people who have fallen of hard times should be helped by family, and there church first.

Nothing should be free.

Doctors are already serving others I don't begrudge them a penny

 

[Archivist]

You mentioned a lot that the rich give and what they share. Is this supposed to be a praise to them, or an insult? If insult, would you rather that they donate nothing instead?

Although Matthew 6:1-4 says that giving should be in secret.

 

[Fantine]

I have heard that charity deductions should be tiered. Donating to earthquake and flood relief is more necessary than building a hospital.wing named after you.
In terms of appreciated stock or art, I appreciate their generosity to the degree it actually cost them. In the example I have, their gift would cost $2000.
A middle class worker who gave $2000 To his church would be giving from his essence, not his excess.

 

[RaymondG]

Although Matthew 6:1-4 says that giving should be in secret.

Although large sums of money leaving your bank account must be reported or you risk being tried for money laundering. Go buy a house and see if your bank account isnt reviewed and you're not asked to account for any withdrawals exceeding 10k.

But this is not something that would be obvious to those who dont wish to give a lot........Those who are content with giving little, would never run into these issues, and would, therefore, never know about them. They will just complain about those who give more than they do, and report it.

I desire to give a lot. And I've already accepted the fact that those who are suppose to love, will hate me for it. To whom much is given, much is required, indeed.

 

[Archivist]

Although large sums of money leaving your bank account must be reported or you risk being tried for money laundering. Go buy a house and see if your bank account isnt reviewed and you're not asked to account for any withdrawals exceeding 10k.

But this is not something that would be obvious to those who dont wish to give a lot........Those who are content with giving little, would never run into these issues, and would, therefore, never know about them. They will just complain about those who give more than they do, and report it.

I desire to give a lot. And I've already accepted the fact that those who are suppose to love, will hate me for it. To whom much is given, much is required, indeed.

I wasn’t thinking in terms of reporting charitable gifts to the government as required by law. But having a building named after you for your gift is certainly not giving in secret.

 

[RaymondG]

Donating to earthquake and flood relief is more necessary than building a hospital.wing named after you.

Yes, if you encountered great lose in an earthquake, or know someone who did, I suppose you would value donations to the relieve of such. Likewise, If you ever needed a hospital bed and could not get one...like many in the current time...one, who would take their money to build more hospital capacity would mean more to you.....and I doubt you would care the name that would be displayed on the corridor walls as you rolled through the doors on the stretcher....you would only feel gratitude.

If only we were content with what we have and were given...and felt no need to over analyze the means by which our blessings were given.....

 

[RaymondG]

I wasn’t thinking in terms of reporting charitable gifts to the government as required by law. But having a building named after you for your gift is certainly not giving in secret.

Whether your name is on it or not, it will always be known that your funds funded it.

Tell me this. I plan to build the RaymondG Hospital for all. Would you deem me less holy than anyone else because I want my name on it? Will I be less holy than the one who built the second hospital with a random name? Would I be better off not building the hospital at all than to build one will my name on it?

Would it be better to be grateful for the extra hospital beds than to question the motives or holiness of the one who desired to build it?