Posted on 06/18/2014 12:07:09 PM PDT by Citizen Zed
The huge upcoming wealth transfer predicted by Boston College’s Center on Wealth and Philanthropy back in 1999 is actually turning out to be bigger than expected—despite the Great Recession. An updated tally puts the money changing hands at $59 trillion over the next half century, with nearly $8 trillion of that earmarked for charity. That’s on top of $19 trillion in everyday charitable giving that Americans are already expected to give over that time period as giving is part of their DNA.
How can that be? Although the recession devastated the asset values of the majority of U.S. households, real household wealth in 2010 was still 10.2% higher than its value in 1998. Richer, older households—those poised to transfer the most wealth and give the most to charity—lost the least.
(Excerpt) Read more at forbes.com ...
**...with nearly $8 trillion of that earmarked for charity.**
Not possible. Only government is benevolent enough to donate to charitable causes. The individual American is too selfish and greedy.
Bet they raised their tuition last year ...
But look on the bight side.The Rats will channel the $$$ to fine charitable organizations like "women's health" centers and "transgendered services" centers whereas individuals might give to worthless organizations like African and Asian nutrition charities.
Doesn’t matter— the trillions will not be worth trillions by the time they are paid out. Much, much less... once inflation hits, which it has to do in the next phase. Weimar Republic.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.