To Give is Not to Lose
Fascinating point raised in The Economist. Creating a social expectation and legal incentives to give to charity does not reduce the rich’s influence. Rather, doing this redirects the rich’s influence into focusing on our personal lives and not just our business.
Bill Gates donates a huge portion of his wealth, yes. But, he donates all of his money to his own foundation. Gates is maintaining the majority of his influence, he is just switching his wealth from personal to public, which in turn means he will exert more influence over our lives, society, and culture.