The O’Jays > Abba, but I digress.
I dig this story, “Gift to help cover tuition for students in lab medicine” for a few reasons. Mostly because the donors wanted to remain anonymous. Such a refreshing choice in this “look at me” day and age. I also like how targeted and thought out the gift is. There will surely be positive ripple effects. And of course, the recipients’ gratitude is heartwarming.
Then there’s this. “Michael and Susan Dell donate $6.25 billion to encourage families to claim ‘Trump Accounts’”. Not anonymous, and a very unfortunate name, but a staggering amount that compensates for both of those things.
Both are interesting in the context of this The Nation pod, “Liberal Philanthropy and the Fight for Democracy“. Sentence-long summary, “As powerbrokers of the elite, liberal philanthropists are averse to challenging ‘the systems that spawned them.'” One does not have to be as far left as the typical The Nation reader/listener to conclude that we’re far too dependent on the capriciousness (and ego) of the oligarchy for the infrastructure and safety nets we desperately need. What we need is the the dependability of a more progressive tax structure.
Yours truly just sold some AAPL purchased in 2011. The initial investment was small, but the shares appreciated over 2,000% in the fourteen years, resulting in a large sum. Which I will now gift to several nonprofits.
In revealing that, I’ve violated my fave philanthropic move, remaining anonymous. And, I’ve also sidestepped considerable capital gain taxes.
I can live with those demerits because I do not aspire to be in any pantheon of modern-day philanthropists. My aim is simpler. It’s to honor the memory of those who’ve been generous with me and to transmute the incredible luck I’ve had as an investor into tangible contributions to the common good.