Sunday, October 12, 2014

Wealthier Americans give less than poorer people


Americans took tax deductions on $180 billion of charitable donations in 2012, averaging 3% of total income and on a median income of $82,823 with a median contribution was $3,176. Those who earned less than $100,000 — including poor and middle-class families with two working adults — donated 4.5% more of their income in 2012 than 2006, but those making $25,000 or less gave 16.6% more.

In 2012, those earning less than $25,000 a year gave 7.7% of their income to charity, but that figure steadily declined as salaries increased to 4.6% (for those earning $25,000 and $50,000 per year), 3.5% ($50,000 to $75,000), 3% ($75,000 to $100,000), 2.6% ($100,000 to $200,000) and 2.7% (for people earning $200,000 or more), although some of the 1% have chosen to give away far more than that .... http://www.marketwatch.com