‘New rich’ cautious about giving, for a reason
One in five Americans reaches affluence at some point in their lives, although that exalted economic state proves transitory for many, according to a report by The Associated Press.
That sense of fragility helps explain why these "new rich" — defined as households earning $250,000 or more at some point — are more fiscally conservative than other Americans, and less likely to support safety-net programs for the disadvantaged.
"In this country, you don’t get anywhere without working hard," said James Lott, 28, a pharmacist in Renton, Wash., who adds to his six-figure salary by day-trading stocks.
The son of Nigerian immigrants, Lott grew up on food stamps, and believes government should help the poor get a leg up. But he emphasizes that the needy must also work to support themselves. His own life is an example: Lott’s single mother rose out of hardship by starting a day-care business in their home.
But there’s always room for helping others
Speaking of money, charities that rely on seasonal cheer are feeling the pinch this year. The Salvation Army, for one, reports that donations to its red kettles are down 30 percent this year, falling far short of its $1 million goal.
Whether to the Salvation Army, the Star-Advertiser’s Good Neighbor Fund or to some other nonprofit or church that helps the needy, we encourage our readers to share their largesse.
Helping others is a tangible way to express gratitude for the bounty in our own lives: truly a win-win.