Charitable Giving Helps Mitigate the Impact of COVID-19. What’s Wrong With That?
One of the new ways critics like to slice and dice rich people these days is to question the value they provide to others by minimizing the importance of their charitable giving. For instance, the top 20 richest people in America gave a cumulative $8.7 billion to charity in 2018, but we are told that this sum is only 0.8 percent of their wealth. The most recent example of this tut-tutting comes to us after Mark Zuckerberg and his wife, Priscilla Chan, donated $100,000 to each of eight of their favorite Bay Area restaurants.
The goal was to help these establishments cope with COVID-19 and hopefully stay afloat during these times of lower demand. In a San Francisco Gate article later recapped by Business Insider, Jessica Snouwaert recognizes that this gesture is “nice,” but then writes, “It can be helpful to examine what a comparable donation would like from a nonbillionaire family. In this case, comparing the scale of Zuckerberg’s wealth with the wealth of the average US household shows just how deep economic divides run between billionaires and everyday Americans.”
The answer to that comparison is that the Zuckerbergs’ “$800,000
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