By Adele Horin, Sydney Morning Herald Columnist & Reporter
Illustration: Simon Bosch
If you are over 40 and pulling in an executive's salary, here is a maths problem to ponder at Christmas. Are you giving at least 7.5 per cent of your pre-tax income to charity? Do the sums.
Hopefully you will discover you give double. These proportions are considered the base range for philanthropic giving by the prominent Australian philanthropist and fund-raiser Bill Ferris, who doesn't let younger high-fliers, with their mortgages, off the hook either. The under-40s, he says, should be giving away between 2.5 per cent and 10 per cent of their pre-tax income.
As he released new figures on income inequality this week, the Labor MP and former professor of economics Andrew Leigh said that nothing much could be done about growing inequality given the forces of globalisation and labour mobility, and the worldwide competition for corporate chief executives.
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