Possibly the people who give the most, albeit to relatives, are immigrants from less developed to more developed countries. Even though for many it means lowering their standards of living in the US (or wherever), they know the remittance they send is sending their younger sister to school, buying a new roof for the family house in Bolivia, etc.
In the US, the lowest income bracket gives a larger percent of their income than any other bracket. I haven’t seen numbers on whether this includes people on the brink of not having their basic needs met, but I bet a lot of them have been there at some point.
In the US, the lowest income bracket gives a larger percent of their income than any other bracket. I haven’t seen numbers on whether this includes people on the brink of not having their basic needs met, but I bet a lot of them have been there at some point.
Note that it’s possible that a substantial fraction of these donations are made to community organizations (churches, etc.) and so may effectively serve as membership dues. Despite this I think that this statistic makes a good rejoinder to middle/upper class people who claim that they can’t afford to give.
On the other hand, perhaps the poor give too much! They should be receiving the aid, not giving it out!
Consider all the economic opportunities that poor immigrants are giving up by remitting so much of their income to relatives where they came from. Perhaps it would be better if they saved and invested instead, and then after securing themselves financially, then start giving back?
Perhaps it would be better if they saved and invested instead
If you consider yourself as, say, a Mexican 30-year-old who comes to the US and works as a carpenter, would you prefer to save your earnings and invest them (despite having little formal education, and thus being unlikely to invest well) while your wife, son, and parents continue living in a shack in Chiapas? Knowing that they would despise you for hoarding your earnings while they scraped by? I bet you would send them part of your paycheck. The opportunity cost of saving that money is too high.
Possibly the people who give the most, albeit to relatives, are immigrants from less developed to more developed countries. Even though for many it means lowering their standards of living in the US (or wherever), they know the remittance they send is sending their younger sister to school, buying a new roof for the family house in Bolivia, etc.
In the US, the lowest income bracket gives a larger percent of their income than any other bracket. I haven’t seen numbers on whether this includes people on the brink of not having their basic needs met, but I bet a lot of them have been there at some point.
Note that it’s possible that a substantial fraction of these donations are made to community organizations (churches, etc.) and so may effectively serve as membership dues. Despite this I think that this statistic makes a good rejoinder to middle/upper class people who claim that they can’t afford to give.
On the other hand, perhaps the poor give too much! They should be receiving the aid, not giving it out!
Consider all the economic opportunities that poor immigrants are giving up by remitting so much of their income to relatives where they came from. Perhaps it would be better if they saved and invested instead, and then after securing themselves financially, then start giving back?
If you consider yourself as, say, a Mexican 30-year-old who comes to the US and works as a carpenter, would you prefer to save your earnings and invest them (despite having little formal education, and thus being unlikely to invest well) while your wife, son, and parents continue living in a shack in Chiapas? Knowing that they would despise you for hoarding your earnings while they scraped by? I bet you would send them part of your paycheck. The opportunity cost of saving that money is too high.