Americans are Becoming Less Charitable

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Charitable donations have decreased since the 2008 economic recession and its subsequent recovery. Interestingly, during periods of economic downturn lower and middle class Americans give substantially larger proportionate amounts of their income to charity than those earning greater than $200,000 per year. Economists at Texas A&M University analyzed the amount of charitable giving itemized on Americans’ tax returns from 2006 – 2012 and indicated that Americans who earned less than $100,000 in annual income donated about 4.5% more money than average during the 2008 economic recession. Comparatively, Americans who earned greater than $200,000 in annual income donated about 4.6% less …read more

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