From Fox Reno: Nevadans with a net worth of more than $1 million make up only 0.2 percent of the state’s population but account for more than 27 percent of its reported charitable contributions, according to a report from The Private Bank by Nevada State Bank.
The third in the bank’s series of monthly reports prepared in conjunction with local market research firm Applied Analysis focused on charitable giving by Nevadans with a household net worth of at least $1 million.
Russell Price, executive vice president of The Private Bank by Nevada State Bank, said the issue is not only important around the holidays.
“Philanthropy is a value shared by The Private Bank and its customers year round,” Price said. “That being the case, we’re keeping a particularly close eye on how Washington lawmakers deal with the fiscal cliff. Limiting or even eliminating tax deductions could have significant impacts on households with a high net worth, which contribute an average of nearly $140,000 each year to charities. These dollars fund some of the most critical social services in the state. Preserving the ability for wealthy families to support causes they are passionate about is critical to our state’s future.”
Applied Analysis’ Jeremy Aguero was the lead analyst on the research effort. He found that wealthy Nevadans tend to be more charitable than their counterparts across the country, though most of their contributions leave the state. Of the $3.4 billion in large donations Nevadans donated to all charities last year, Aguero said about $900 million of that total went to organizations within the state.
“Oftentimes, people suggest that Nevadans are less generous when it comes to charitable giving, but this certainly cannot be said about the high net worth segment of the population,” he said. “Nevada’s high net worth households actually contribute more than their counterparts in other states.” http://www.foxreno.com/news/news/state-regional/private-bank-nevada-state-bank-releases-research-c/nThB3/
But the Democrats, led by President Obama and Nevada's own Crybaby/Coward/Senile Harry Reid are intent to lessen charitable contributions by the rich by raising their taxes and reducing their deductions.
Hooray for Democrats for hurting the poor. Why do liberals hate the poor so much?