I’m curious how far you go in the other direction. If your Wave stock turned into an extra $50M, would you donate an extra $50M, or an extra $49M, or an extra $40M, or what? As your lifetime earnings go to infinity, is your personal leisure spending bounded?
There’s an amount of money large enough that it would get me to quit my job and switch to working full-time on how to distribute that money, not because my ideal job is working at a foundation doing charity evaluation but because small differences in how effectively that money was allocated would be enormously important. But that’s not really your question…
I’ve been giving 50% pre-tax, but you can’t just combine this with the top US tax bracket (37%) because giving is tax deductible at the federal level here. It isn’t deductible at the state level, and there are some other taxes, so I think this combines two about an effective giving+tax rate of 80% of sufficiently high level increases in income.
More generally, I would probably go above 50%, but not so high as to remove my selfish incentive to keep earning more?
I’m curious how far you go in the other direction. If your Wave stock turned into an extra $50M, would you donate an extra $50M, or an extra $49M, or an extra $40M, or what? As your lifetime earnings go to infinity, is your personal leisure spending bounded?
There’s an amount of money large enough that it would get me to quit my job and switch to working full-time on how to distribute that money, not because my ideal job is working at a foundation doing charity evaluation but because small differences in how effectively that money was allocated would be enormously important. But that’s not really your question…
I’ve been giving 50% pre-tax, but you can’t just combine this with the top US tax bracket (37%) because giving is tax deductible at the federal level here. It isn’t deductible at the state level, and there are some other taxes, so I think this combines two about an effective giving+tax rate of 80% of sufficiently high level increases in income.
More generally, I would probably go above 50%, but not so high as to remove my selfish incentive to keep earning more?