Looking at charitable tax deduction, Robert Reich effectively says that charity of wealthy is often wasted on the arts, instead of directed to soup kitchens.
"I'm all in favor of supporting fancy museums and elite schools, but face it: These aren't really charities as most people understand the term. They're often investments in the lifestyles the wealthy already enjoy and want their children to have as well. Increasingly, being rich in America means not having to come across anyone who's not. They're also investments in prestige - especially if they result in the family name being engraved on a new wing of an art museum, symphony hall or ivied dorm. It's their business how they donate their money, of course. But not entirely. As with all tax deductions, the government has to match the charitable deduction with additional tax revenues or spending cuts; otherwise, the budget deficit widens." -- Robert Reich, the SFGate.com
