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40 billionares have pledged to give at least half their wealth to charity.
Recently, 40 billionaires came out and pledged to give the majority of their wealth to philanthropy. The money is not being funneled to one cause - each billionaire gets to give their money to the cause, or causes, of their choosing. As the Bush tax cuts are set to expire and billionaires are giving away up to 99% of their wealth, many people are wondering if the rich, because they have more, have a greater responsibility to give.
Philip Auerswald, Associate Professor, School of Public Policy, George Mason University