There was a very listenable recent Radio 4 comedy programme ‘Simon Evans goes to Market on -Philanthropy’ where one of the contributors, Tim Harford, broadcast the damning quote by the future President Roosevelt on Rockefeller’s desire to create a charitable foundation.
“No amount of charity in spending such fortunes can compensate in any way for the misconduct in acquiring them.”
It is discouraging that nothing has changed since 1910.
But even more remarkable was hearing Merryn Someset-Webb, Editor of ‘Money Week’, say in the programme that she never ticks the box to reclaim the tax when giving charitable contributions and this on the grounds that we elect a government to prioritise spending. By ticking the box you are reducing the amount of money available for that government decided spending.
So even though she edits ‘Money Week’, mentally, she is still on the gold standard! Money is limited and so she wouldn’t want to intentionally limit government priorities. Surely she knows what Quantitative Easing has done for investments and surely she knows where Quantitative Easing comes from?
As a result her contribution was funny in more ways than one…