It’s that time of year again, the time when Americans consume more than ever, but also the time when Americans give more than ever. Indeed, America’s generosity as a whole is actually quite extensive, with Americans giving $471 billion in 2020, an all time high. That’s more than what the vast majority of countries bring in for tax revenue. 80% of this is from individuals, according to Giving USA.
Americans, in general, are incredibly generous, with 25% of Americans volunteering every year. Converted to a dollar value, this is roughly $179 billion worth of work. Most of this charity comes from the rich, with 93% of households that make over $162,501 donating to charity and 91% of households that make over $125,001 donating to charity.
Since the government started the “War on Poverty” 56 years ago, it has spent $27 trillion on this effort. And yet, it was only the beginning 7 years when poverty rates went down. Why? Well, one likely explanation is that welfare has taught people not to work, as governmental welfare dependency statistics have shown. Indeed, 93% of welfare recipients rely on welfare for more than 2 years. Charity, on the other hand, is not guaranteed, so it encourages people to take responsibility and become self-sufficient.Read More