Much of the 2000's was very good for the richest 1% of Americans. From 2002 to 2007 alone, the richest 1% saw their average income go from $1.08 million to $1.80 million, a rise of 73%. In comparison, ever other worker saw their income rise from $38,400 to $41,700, a rise of about 9%. According to the conservative philosophy, this should not be a problem, as the rich use their immense wealth to help the poor. Today Glenn Beck reflected this philosophy when he stated, "Nor will I stand by silently as the most charitable nation in the history of mankind now needs the IRS to act as our charitable collection basket." According to Beck and others, the government has no role in helping the poor because the rich will do it naturally. However, numbers show that the rich actually have given much less to charity over the past three years, and those organizations helping the poor are struggling as a result.
[Slideshow: Revealing graphs and charts on income inequeality and the deficit]
Overall, charitable giving went down by 3.6% in 2009. That trend was led by the richest Americans who gave 33% less in 2009 than they did in 2005. The richest Americans gave, on average, $54,016 out of their $10.7 million income. That means the richest Americans gave less than one-half of one percent of their income in 2009. The nations 400 largest charities saw an 11% decline in charitable giving, which meant many of them had to cut back services to the neediest Americans.
So where did the money go if not to charities? According to a report by Bloomberg, many of the richest Americans put their money in art, gold, and luxury items like jets. People with incomes between $1 million and $5 million had 30% of the assets in luxury items in 2009.
The "charity model" proposed by Beck and other laissez-faire conservatives is simply not working. Meanwhile, America's growing poor population (the poverty rate reached a 15 year-high in 2010) continue to wait for the richest Americans to find their charitable spirit.
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Comments
And limousine liberals give the least of all.
Did some one forget we have been in a recession the past two years with historically high unemployment, the worst economy since the Great Depression. No surprise then to see under the Obama Regime the number of Americans deemed 'poor' has risen to a 15 year high, a great recruitment effort by the Democrats and their need for class-warfare. You also have to wonder with the huge amount of uncertainty the Obama Regime has generated over the past two years has affected charitable giving.
And just who isn't giving, was the poll broken down along the lines of conservatives, who have historically given more, and liberals, who donate considerably less? Say Ryan, could you look into that, maybe provide some answers to those questions, a bit more specificity on this matter?
So much for "trickle down charity."
Those GREEDY PIGS!!!!! They are the reason why this country is in trouble now! They're hoarders. It's like we need a revolution!
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