Jeff Bezos’ $2 billion charity pledge isn’t necessarily great news for America [MarketWatch]
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Source: MarketWatch
Jeff Bezos’ $2 billion charity pledge isn’t necessarily great news for America The planet’s richest man is putting his considerable resources toward solving two of America’s most pressing problems: homelessness and early childhood education for low-income children. That’s the good news. But Amazon CEO Jeff Bezos’s $2 billion philanthropic effort is also emblematic of America’s persistent gap between rich and poor, experts say. “Giving patterns in the last decade have suggested that a greater proportion of total charity is giving from the largest givers,” said Ben Soskis, a research associate at the Urban Institute, a Washington, D.C.-based think tank. “Charitable giving is reflecting the income inequality of the nation.” While the economy is rebounding, unemployment has dropped, and wages are finally starting to grow , the gulf between the wealthiest and poorest households remains vast. The top 1% of Americans made 26.3 times as much income as the bottom 99% in 2015 — an increase from
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