Posts Tagged ‘Trump Charity’

More Love, Less Greed

September 22, 2018

The title of this post summarizes the problem of our times. The immediately preceding post discussed Bezos and other billionaires giving away large sums, even a majority of their wealth. They appear to regard philanthropy as both a duty and a joy. Unfortunately, there are many other billionaires who live in the nature of Donald Trump. Trump values people solely in terms of their wealth. There are some exceptions such as those in the military who command power. At some point, additional wealth can add nothing to one’s pleasure. All humans are biological beings with biological constraints. Yet for many billionaires, such as Trump, money is regarded as a score with the goal being to have as many billions as they can. This is greed at its very worse.

Although money is a means of keeping score for these billionaires, money is a means of survival for many, and to achieving a modest middle class lifestyle for others. Here is a breakdown of wealth in the United States:

Population    % of Wealth
Top 1%            40%
Next 4%           27%
Next 5%           12%
Next 10%         11%
Second 20%      8%
Middle 20%      2%
Fourth 20%       0%
Bottom 20%     -1% (negative net worth)

Clearly there is a gross maldistribution here, and many wealthy could give away more of their wealth without feeling any pain. Moreover, the majority of this wealth is inherited wealth, so for them this wealth has not been earned. It is interesting that neither the Gates, nor Warren Buffet believe in inherited wealth. They think that inherited wealth is not good for their children. If only more of the wealthy shared this belief.

The Trump tax cut increased the wealth of the top 1% people, leaving just crumbs for the rest. And this tax cut irresponsibly increases the debt burden on future generations.

Trump himself gives nothing to charity. Moreover, his Trump Charity is being investigated by the State of New York for fraud.

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