501derful.org
What happened to the increasing transfer of wealth that is suppose to occur each year? Legacys can be transfered with less estate taxes. Is this part of the answer?
Amercas gave estimated $241 Billion In 2003. When adjusted for inflation that is an increase over 2002 of 0.5%. The second year in a row with growth of under 1%. A sluggish economy could be the reason.
For more on this subject see Americans Gave Estimated $241 Billion In 2003. http://www.nptimes.com/Jul04/np3.html
Ed Duke
Ed, what do you think of the idea that rising health care costs and uncertainty about what it will take to live comfortably in the future is eating into the transfer of wealth?
Check out this earlier post:
http://www.fispace.org/home/2003/12/no_big_bequests.html
They are holding back due to uncertainty, I think—-the middle class, and they are spending it.
But the wealthy are leaving more than ever. But I think more of it is going to family and less to charity. There is less reason to give to charity than before because the exemption for estate taxes is growing larger. $1.5M now and $2M in 2006 and no tax at all in 2010. But what will happpen after that is anybodys guess.