Why won't millionaires share their money?

Question

If they gave a portion to those who are poor, there would be less poor people.

Answer 1

Most millionaires do share their money they mostly do this through foundations that they have created or that they give too.
In the US we have the Foundation Center which lists all the nonprofit foundations in the US and the World. The amount of money that millionaires have given and that is collecting interest then given out is amazing. If all foundations gave to wiping out world debt they could do it in one year. What happens is that these people decide what they feel they could do most to help others and then give to organizations that do direct outreach. We wouldn't have food banks, free clinics, or many other programs if it wasn't for the millionaires who set these up. Many do this without knowledge of them doing it they do it for the sake of helping. If they gave money to the poor, that money would only last a short time, but if they give or create a program to help the poor become better educated, better medical care and better training programs or help set up small loans for small businesses in local banks for poor in third world countries, then the portion that the give will do more than just handing someone money. Money doesn't answer problems of poverty, change does.

Answer 2

This is actually a good question. I was having a discussion the other day about how doctors have to spend so much flippin cash just to become a doctor that they charge the patients so much just to make up for the money they spent on college. And then after they become better doctors they raise the prices once again because they feel that they are worth it and forget why the prices were placed so high to begin with.
I had an idea that anyone in the medical field shouldn't have to pay so much because well...we really freaking need doctors. Instead, have them do community service. Free clinics, homeless shelters, womens shelters, orphanages, nurses at schools, have a once a week community health day with doctors treating poverty stricken people, weather catasrophies, even send some to Africa!
This would not only eliminate medicare for alot of people, but it would also make becoming a doctor much easier. Not that they shouldn't have to pay at all, there should still be payments so the teachers can get paid and do a good job. But it would help. Some poeple may disagree with this idea, but those people can pay the regular tuition for college and avoid doing any community service.

Answer 3

Many do share their money and most that do you never hear about. Those that do share don't usually entertain people that come to them asking but rather do so through trust and funds set up that screen people and verify needs. Sure there are some that never share and look down upon people that they consider inferior to them because they have less money but that's a minority. I think that many of them also would like to share but also know that due to human nature that people would take advantage of them and there is a real fear that once word got out that they would be bombarded by cranks and freaks and crazy people that are just looking for a free ride. Last most people are sharing people and good people but only care to help those that help themselves and reward people that work hard rather than people that want to skip by life on handouts. Millionaires and people with far less money give all the time but most of the time you never see or experience it and then also they have a strong desire to provide for their families after they are gone and there is nothing wrong with that either.

Answer 4

The more money we earn the more our lifestyles change. Think about it. If you're making 30K per year, You're probably gonna drive an affordable, economical car & live in a 1bdroom apartment & that works at 30K But if you all of a sudden started making 300K peryear you'll probably buy a much bigger house and several different cars because we always have to show the world how well we are doing socially. Also, If you have a generous heart people tend to take advantage of you, so most people choose not to give. Its unfortunate but true

Answer 5

1. Not all millionaires are stingy and dont' share
2. Not all regular folks share their money with the poor
3. No one is obligated to give away their hard earned money
4. Instead of expecting from others, one should work on their own action

Answer 6

Go to church, look around. Virtually every well off person, be they millionaires or not, gives at least 10% of their money away. One of the keys to being sucessful is to give freely. Most Millionaires give away more than you will ever earn, just because they don't give it to you doesn't mean that it's not there.

Answer 7

Many do through supporting and funding certain important causes like cancer research etc. Its a way of providing the best financial help for the largest mass of people. And then some don't - but choose to fund a politica cause that will enrichen them more.

Answer 8

Some do, but then they're not millionaires. :)

seriously though, some really do. Warren Buffet just gave away 36 BILLION dollars to the Gates Foundation. There is hope for us low-tax-bracket people!!!

Answer 9

What do you think every billionaire in the World has been doing in the past decade?

You should watch CNN more often.

It all started with Ted Turner when he donated $1 Billion Dollars to the United Nations back in 1998

Top 4 Answerer in Business & Finance. (Vote for me)

Answer 10

They do give a ton of money to the poor.Most of the poor in the USA have been getting handouts for so long they think it is their right to never have to work.