Mercury News Editorial
The wealthy in Silicon Valley are the stingiest in California or, using another measure, next to the stingiest, when it comes to charitable giving, according to a new study.
The actual picture is probably a lot worse. The study of state tax data by NewTithing Group based calculations only on income-producing wealth, but a huge portion of wealth in the valley is derived from high-tech stocks that don't pay dividends. NewTithing, a San Francisco non-profit, must have substantially underestimated the assets of the richest 3 percent. That means they donate an even smaller portion of their wealth than the already paltry percentage that the study found.
Welcome, Emmett Carson. That is your dilemma: figuring out how to entice the rich in the valley to give back more of the money they've been fast accumulating."
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