Back in August, I compared the charity of Obama to McCain. McCain was the clear winner, giving away over 20% of his income to Obama’s 5%. But Biden makes even Obama look generous.
Paul Caron at TaxProfBlog looked at Biden’s tax returns. His income seems to be limited to his Senator’s pay, his wife’s teaching pay and some book income. But outgo matched income. They save about 8% of their income in 3 credit unions. They own no interest-bearing stock outside of retirement accounts (which aren’t reported) But he gives only minor amounts to charity.
The average American gives 2% to charity. Christians, especially Evangelicals, are called on to give 10% to their church and more beyond, although most fall within the 5% of the Obamas. The Bidens manage just a few hundred dollars and a quantity of goods that falls below the legal limit required for itemized declaration. (That $995 in 2007 included only $595 in cash – more in line with previous years.)
Just because you don’t give to charity doesn’t mean you’re a bad leader. But the habit of giving of your money fosters a self-giving attitude. I worry about whether he’ll look out for my interests if he’s stingy with his assets.