Catch Up, Michael
Word is Michael Dell will donate $3.8 mm for tsunami relief. "We encourage people in our country and everywhere to find it in their hearts to give generously to these people and the relief efforts," he says.
Um, let's see, that comes to 0.3% of Michael Dell's net worth. This donation has as much significance to Michael Dell as does a donation of $300 by someone with a net worth of $100,000. With the obvious difference that Michael Dell is set for life many times over and can easily afford it, while an individual worth $100,000 probably is probably working to get their house paid off, kids through college, etc. (And will not issue a press release about their generosity.)
Just to clear things up - the average American gives $3,455 to charity every year against a net worth of $270,000, or 1.3% (these are means, if I use medians the percentage gets much larger). Poor people tend to give a much larger percentage.
So Michael: we're already giving 'til it hurts. Catch up.
[Guilty update: to be fair, Dell and his wife do a lot more. This page has a good description of some of their efforts.]
posted by Anonymous at 5:40 PM
2 Comments:
A critical question: are pharmaceutical companies providing (donating I would hope, but cannot assume) sufficient anti-biotics and vaccines to avoid the epidemic side of this disaster? (Cholera and typhoid and malaria are mentioned). There's another hundred thousand lives, often small children, many orphaned, at stake right now.
I'm sure something is being donated, but I'm far from convinced companies like Merck would miss out on real profits to help; I hope to hell some evil pill clown is not working up a strategy to raise prices to the relief agencies.
Wait - the deduction is valued at the wholesale price, which is probably five times the manufacturing price, which is 10% of the retail price?
Correct me if I'm wrong, but doesn't this mean they effectively profit on drugs they give away?
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