The Joys and Dilemmas of Wealth

According to surveys of very wealthy Americans conducted by the Center on Wealth and Philanthropy at Boston College, there is a strong correlation between feelings of economic security and willingness to give.

In 2006, Paul Schervish, who runs the Center, and his colleague John Havens concluded that, on average, the 98 per cent of US families who earn less than $300,000 a year give roughly 2.3 per cent of their income to charity. Families earning more than $300,000 give away about 4.4 per cent, while those who earn $400,000 to $499,000 a year give 5.5 per cent. With higher incomes, the statistics are unreliable because of sample sizes.