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Robin Hood Is Alive And Well

Dec 14, 2017
by Caroline Miller
charitable giving, Christies, Robin Hood Foundation, Southyby's
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Courtesy of google.com

Tis the season when charities are making a final holiday push for money to fund their causes.  They know how to tug at the heartstrings, but some folks still appear to have money to burn. Recently, I read the auction houses,  Sotheby’s and Christie’s, are offering purses with price tags approaching $1 million dollars.  That’s a lot of moolah just to carry a lipstick.  Doubtless, the purchasers will defend their extravagance by pointing out they give generously to charity.  I say when a woman spends nearly $1 million dollars on a handbag, she hasn’t given enough.

A few folks in the charity game have made a  study greedy behavior.  Feeling good about good works isn’t a strong motivator for giving.  One way to attract the super rich’s money is to let them have their cake and eat it, too.  The Robin Hood Foundation, a charitable organization, works with managers of billion dollar hedge funds.  Their timing is perfect because, if it passes, the Republican tax plan will bring  lots of  money from off-shore tax havens back into the country.  Making a charitable contribution has always been a write-off, but with the Robin Hood Foundation, the new rules offer a bonanza benefit.  

It allows donors not only to designate the charities they support but to control the money as well. That’s right.  The super-rich get to keep what they give. The dollars stay on the company’s books, allowing it to maintain a healthy bottom line.

“Yeah,” you say. “But the money is earmarked for charity, right?”

Well, in a way.  Eventually.  As no regulations exist for this type of donation, it’s possible for contributors to dole out their money in small sums and  over a long period of time — possibly for several generations. In effect, they have bought into a tax shelter.  It’s a sweet deal for everyone but the poor. (“Pleasing the Rich to Give to the Poor,” by Katherine Burton and Margaret Collins, Bloomberg Businessweek, November 20, 2017, pgs. 30-31.) 

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Contact Caroline at

carolinemiller11@yahoo.com

Portland, Oregon author Caroline Miller had distinguished careers as an educator, union president, elected official and artist/advocate.

Her play, Woman on the Scarlet Beast, was performed at the Post5 Theatre, Portland, OR, January/February 2015

Caroline published a serialized novelette, Marie Eau-Claire, on the website, The Colored Lens.  She also published the story Gustav Pavel,  a parable about ordinary lives, choice and alternate potential, on the website Fixional.co.

Caroline has published four novels

  • Ballet Noir
  • Trompe l’Oeil
  • Gothic Spring
  • Heart Land

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