Last week one of our summer 2010 Glenn Fellows, Sean Fitzpatrick, commented on the recent agreement by 40 or so billionaires to give at least half their money to registered charities. Steven Pearlstein commented in his column in Saturday's Washington Post. Not exactly Sean's point, I don't think, but also worth pondering.
In explaining the high rates of charitable giving in the United States, it's hard to overstate the importance of generous tax deductions that encourage philanthropy. For me the interesting question becomes, is our high rate of charitable giving a reflection of the tax code, or is the code an expression of our distinctive culture? Or does the influence flow both ways?
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