12 February, 2022

The moral calculations of a billionaire

https://www.washingtonpost.com/nation/2022/01/30/moral-calculations-billionaire

They’d given away $150 million to a hospital in New Jersey, $50 million for college scholarships to Newark high school students, $40 million to Columbia Business School, $40 million to Hunter College, $30 million to performing arts, $25 million to the Jewish Family Fund, $20 million to skilled nursing, $15 million to food banks, and on and on it went. But no matter how much they gave away, their money continued to make more money even as wages for the middle class remained essentially flat. In the past 50 years, the gap between poor families and the top 0.1 percent had increased more than tenfold. Children now had only a 43 percent chance of out-earning their parents.