Monday, November 25, 2019

The Rich and Donations

Here's a Vox post on the donations to charity by the most wealthy Amercans. As Dylan Matthews notes, there are a number of qualifications and cautions in interpreting the figures.  For my purposes,only three billionaires, Bloomberg, Gates, and Buffett gave more than 1 percent of their wealth in the last year.

I may have discussed this before in connection with Warren's proposed wealth tax.  Anyhow, retirees are told they can withdraw 4 percent of their savings and likely not exhaust them before dying.  I think maybe that's a reasonable target: once a person reaches retirement age, between taxes and charity the total should be about 4 percent of wealth.

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