Between 2006 and 2012, the wealthiest Americans became less generous with charitable donations, as a share of their total income, while lower- and middle-income Americans reached farther into their pockets as they witnessed the need for charity in their communities, the Chronicle of Philanthropy in a study says.
"The wealthiest aren't being persuaded to up their share of giving in the same kind of way the poor are," said Stacy Palmer, the editor of The Chronicle of Philanthropy.
But Jay Gatsby, a resident of Park Avenue N.Y. and a billionaire, gave an explanation for the decrease in giving.
" I've made my money gambling in the Stock Market and on the Commodities Exchange. Also I've grown super rich by speculating in worthless financial instruments before the crash that caused the Great Recession,"
He continued, "My riches trickle down to my chauffer, maids, crew of my giant boat, and pilot of my private jet. I consider myself to be a super job creator. There's no necessity for me to make charitable contributions."
He excused himself as he boarded his jet to fly to his airstrip on his private island in the Caribbean.