More on philanthropy

Not on my watch!

Killing off the next level of jobs

There are some well-off Americans, not rich by their estimation, who are now feeling the affects of "going for baroke." They had nice jobs with philanthropies and non-profits. They'll soon see the tuition rise at the kids' private schools, as more parents pull out in order to cut back to pay for the mortgage, the summer house, the SUV, and basketball camp for junior. In two income families where both are lawyers or executives and one loses a job, that's a drastic cut in money spent in the community. Their tony communities will be raising taxes and it's just possible Maria will head back for Mexico. Yes, when Obama or the governors soak the rich, ask them to pay more than their "fair" share, they just move, and that hurts the local economy. It's really tough on the people who were basing their incomes on the rich folks' donations to good causes, many of which benefitted the poor, the mentally ill or handicapped, the immigrant and the disabled, or the rich folks' shopping habits, or the rich folks' leisure plans.

Philanthropy is a huge industry in the USA--Americans have always been generous, but they also get tax breaks for this generosity, and here's President Obama calling those tax laws written by our Congress, "loopholes." In 2006 Americans gave about $300 billion to charity, and 65% of that came from people earning less than $100,000. But that's over now. Bye-bye executive and administrative level jobs in philathropy. Let's see how it has worked out, soaking the rich, that is.

"Maryland couldn't balance its budget last year, so the state tried to close the shortfall by fleecing the wealthy. Politicians in Annapolis created a millionaire tax bracket, raising the top marginal income-tax rate to 6.25%. And because cities such as Baltimore and Bethesda also impose income taxes, the state-local tax rate can go as high as 9.45%. Governor Martin O'Malley, a dedicated class warrior, declared that these richest 0.3% of filers were "willing and able to pay their fair share." The Baltimore Sun predicted the rich would "grin and bear it."

One year later, nobody's grinning. One-third of the millionaires have disappeared from Maryland tax rolls. In 2008 roughly 3,000 million-dollar income tax returns were filed by the end of April. This year there were 2,000, which the state comptroller's office concedes is a "substantial decline." On those missing returns, the government collects 6.25% of nothing. Instead of the state coffers gaining the extra $106 million the politicians predicted, millionaires paid $100 million less in taxes than they did last year -- even at higher rates." Read the rest here.

I don't like to see people I care about losing their jobs, but it is so tempting to say, "I told you so." Well, eventually, the rich will have no where to go--there are very few states standing up to the massive takeovers by the federal government. Or they will just put all their assets out of the country or in even more clever "loopholes."

Then Obama will come for you, dear friends and relatives, who thought we needed hope and change and a radical leftist in the White House. That's about all we'll be left with--a little change, and the type of hope the 3rd world peasants have for a better day.

Theology and Religion

Resource list at Wabash Center for Teaching and Learning in Theology and Religion.

Lilly in Indianapolis must have more money than God.

The Wabash Center for Teaching and Learning in Theology and Religion is wholly funded by grants from Lilly Endowment. Inc. This $8.1 million grant brings the total grant amount received from the Endowment to $35 million for 17 years of programs.

The Wabash Center organizes its activities around five areas: strengthening teaching and learning; developing the professoriate in theology and religion; supporting teaching environments in theological schools and religion departments; understanding new technologies in teaching and learning; and developing scholarly literature on theological teaching.

It looks to me (browsing through the grants) that if you're a pastor and you have a dream for sabbatical, say singing gospel songs in Fiji, all you have to do is apply.

Fortune 100 Foundations Lean far to the Left

From article summary: "Although many believe selfinterested corporations lavish funds on politically conservative groups, it just isn’t true. A painstaking analysis of tax returns for Fortune 100 foundations reveals the nonprofits overwhelmingly favor groups that push for bigger government and tougher regulations." Of the 53 nonprofits of the top 100 which donated or funded political causes or candidates, the ratio was 14.5:1--$59 million for the left, and $4 million for the right. Read the story here

If this defies common wisdom (not to mention common sense), there must be a reason. As in most things--you only need to follow the money. Or follow the banker or CEO into the halls of the Senate. They give to left leaning, pro-big-government politicians because the regulation or influence will hurt their competition. Why would big oil or big automaker or big lumber be funding and supporting environmental issues that on the surface would seem to be anti-business-as-usual. Well, obviously, it's the small guy with fewer resources and smaller R & D budget who will be hurt, not the mega-behemoths of industry.

La Raza, for instance, which wants the Southwest returned to Mexico in fact if not in treaty or out and out war, is one of the biggest beneficiaries of the wealthy foundations of the top Fortune 100 companies. Now why do you suppose big business has a stake in keeping wages down through illegal immigration? Hmmmm. Banks also are heavily investing in Hispanic causes, which tend to be sympathetic to amnesty and illegals. James Dimon, CEO of JPMorgan Chase, has made political contributions to high-profile Democratic lawmakers and candidates, including New York Senator Hillary Clinton and Illinois Senator Barack Obama, and extremely small amounts to a few Republicans (I'm betting they are RINOs). The JPMorgan Chase foundation gave 2.6% of its giving dollar to political causes, all of which were on the left.

So the next time you read or hear a whiny liberal or progressive legislator, journalist, academic or bloggers moaning about the conservatives being so rich, look for those crossed fingers behind their back or keyboard--just 'taint so.

His money outlived him

I've heard or read the name "John D. and Catherine T. MacArthur Foundation" tacked on to many stories, particularly on public radio, but never knew who they were. . . or what an unpleasant, mean old snot John D. was. Here's an interesting story about a "reluctant philanthropist" who set up a foundation, now with assets over $6 billion, who probably didn't have a friend in the world and was disliked even by family members.

He was such a penny pincher, he hired dwarves to work in the low ceiling basement of one of his income properties so as to make use of all the space. And there's more.

Is your profession a calling?

Several years ago I read an op-ed type column in the WSJ (it's hard to tell in a liberal newspaper if you're reading news or an editorial) that I've never forgotten. A journalist wrote about a friend from college who chose a career in business. The writer chose journalism because "he wanted to make a difference in people's lives," or something like that. By age 50, the writer had had several reverses in his career and was struggling to even make ends meet. His friend by then had retired from a successful business career--don't remember if he invented something, or sold something, but he'd made a bundle. Now he was living his dream--he'd created a foundation and was using his money to help people.

I think juniors or seniors in high school should be told the realities of life, handed a fistful of play/monopoly money, the classifieds from any major city with ads for grocery stores, restaurants, plays, housing, cars, etc. and a book of charts, graphs and stats on salaries. After they've figured out how they would live in Chicago, LA or Peoria, let them look through the college catalog. They may still want to be a librarian, a social worker, an architect or a journalist, but it might cut down on the whining 10 years later about college loans, cost of living, and how this generation won't live as well as its parents or grand parents.

Annoyed Librarian writes: "I always assumed that librarians working the really crappy jobs were doing it because they were lazy or stupid, or had no marketable skills, or had previously worked in an even more annoying profession, or were uncompetitive in some way they couldn't help (unable to move from the area, for example), or just not very good at their jobs. But now I know that it's possibly because they view librarianship as a calling, like being a priest or a rock musician. Those librarians are just living the dream, serving the public faithfully, saving the world one library card at a time."

Yesterday the WSJ featured the gift to NY School of Social Work of $50 million from Constance and Martin Silver. Mrs. Silver got a bachelor and Master's in Social Work there in the late 70s, but reading through the bio, she must have gotten it after she married Martin, because it says they met right after she finished high school and came to NY to get a job. He was already a graduate of NYU when they met (it's also possible she isn't wife #1 and younger). They became wealthy because of his blood-plasma business, Life Resources, Inc. which was sold to the British government for $110 Million in 2002 when they were still in their 60s. She says the gifts (this one and others to NYU) are to fight poverty because "they had struggled to overcome poverty." [Reading the story I don't think they were any poorer than the rest of us growing up in the 1950s--we all had a lower standard of living than today.]

I think the gift from the Silvers might better serve needy college students by offering scholarships to the business school or even trade schools for youngsters who don't have a "calling" but want a better life for themselves and their families. Only a growing government needs more social workers, and that's not how they met their dream.