Wednesday, January 03, 2007 | 01/01/2007 | Charitable instinct lacking | 01/01/2007 | Charitable instinct lacking: "Charitable instinct lacking
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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