It is hard to ignore the growing divide between rich and poor in America. A 2008 report by the Institute for Policy Studies and United for a Fair Economy reports that in 2007, CEOs in the United States took home an average of $10.5 million, “344 times the take-home for typical American workers.” By contrast, thirty years ago chief executives averaged “only 30 to 40 times the average American worker paycheck.”
Today, unemployment hovers around 10%. The percentage of children living in poverty in Maine rose 33% between 2000 (12%) and 2008 (16%). Thirty-eight percent of our children under 18 live in low income families, and 43.1% of all Maine school children receive subsidized school lunches (2010 Maine KIDS COUNT).
It is also difficult to ignore the recent positive press centered on The Giving Pledge campaign, launched by Bill Gates and Warren Buffett to encourage their fellow billionaires to give -- in their lifetime -- 50% of their wealth to charity. Forty billionaires have pledged to do just that. In a related news story, a Chinese real estate tycoon announced in April that he is giving away the last $500 million of his fortune to his charitable foundation. “When asked whether his children are angry about the donation, he responded, ‘If my children are competent, they don’t need my money. If they’re not, leaving them a lot of money is only doing them harm’” (The Wealth Report, wsj.com).
While not wanting to incur the wrath of the progeny of Maine’s philanthropic individuals, many of whom are in line to be our future philanthropists, we ought to consider a similar campaign. Our needs are great, and a little goes a long way. And unlike many other places in the U.S., we know how to work together to make a difference.
A Maine Giving Challenge would be complemented by a statewide campaign currently in the planning stages that encourages Maine citizens to give 5% of their estates to their communities. If everyone did that, it is estimated we would have more than $1.5 billion available for Maine nonprofits over the next ten years.
Pledging to give in one’s lifetime would generate significant philanthropic dollars to resolve some of our more intractable challenges today. No one in Maine should go to bed hungry or cold, especially our most vulnerable citizens, as a consequence of circumstances beyond their control. Larger, more sustained investments in the organizations and programs that have demonstrated their ability to move people out of poverty can make a big difference.
Are we up to the challenge?