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"People think it's the rich people, because no matter how much wealth you have, you always want more," says Scott Ellis.
"I think that's also part of excessive wealth disorder."
Ellis is the founder of the $30 million Success Project, which calls for a 50% tax on all household wealth over $30 million, the Wall Street Journal reports.
The tax would bring in $10 billion a year, he says.
Ellis tells the Journal that he's heard people say they want the same thing he does: a tax on the rich.
"I think that's also part of excessive wealth disorder," he says.
"And I think the goal for philanthropy should be to encourage wealthy people to use their wealth in a way that doesn't undermine society, and to manage the massive accumulation of wealth because that undermines capitalism and democracy."
In an interview with Inside Philanthropy, Ellis says there are many problems in the world, including climate change and education, "where, if you choose not to spend the money to fix a small problem today, in the future, you may have a larger endowment, but the problems will be bigger because you didn't fix them when you could have."
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
"Nonprofit news is the very hot thing right now," says Stacy Palmer, chief executive of the Chronicle of Philanthropy. "Lots of foundations are coming together to save local news." In fact,...more
If you're looking for a place to live in Perth, Australia, OneFive Hamilton Hill is the one for you. That's because it's one of the most water- and energy-efficient residential developments in...more
The UN has set aside $75 million to help fight hunger in some of the world's poorest countries. The money will be doled out through a new program called the Business Investment Fund for...more
Good news for those worried about the planet's water supply: There's a new way to invest in it. Fidelity has launched the Fidelity Funds 2 Blue Transition Bond Fund, which the company says is the...more
Climate change isn't just a global problem, it's a local one that's affecting everything from air quality to rainfall in Australia. So the country's Murray-Darling Basin Water Fund is turning to...more
Environmental, social, and corporate governance (ESG) factors have been gaining traction in the investment world in recent years, and the New York Times takes a look at what they're doing and how...more
Foundation: Gulf Coast Community Foundation
In the wake of Florida's recent hurricanes, the Gulf Coast Community Foundation has set up a Rapid Response Fund to help those in need. The fund has so far awarded 18 grants totaling more than...more
Foundation: Gulf Coast Community Foundation, Humana Foundation
In the wake of hurricanes Irma and Maria, the Gulf Coast Community Foundation has set up a Rapid Response Fund to provide $500,000 in "life-sustaining support to boots-on-the-ground nonprofit...more
A Youngstown, Ohio-based nonprofit that provides services to children, adults, and seniors with disabilities has expanded its service area to include six new counties and changed its name to...more
"We've spent the last few years putting into place a stellar team of professionals to guide Linc into our next phase of growth, bringing innovation and new ideas that will carry our mission...more
Nonprofit Management News from...
Gulf Coast Community Foundation
Humana Foundation
Foundation Source
Oshkosh Area Community Foundation
Maine Community Foundation
Community Foundation of the Fox River Valley
Northern New York Community Foundation
Citi Foundation
Central Carolina Community Foundation
Community West Foundation
Social Entrepreneurship
Spotlight
New Age of Philanthropy: #GivingTuesday
A part of a series produced by The Huffington Post in celebration of #GivingTuesday, which will take place this year on December 3, Kathy Calvin and Henry Timms vouch that we are living in a new era of philanthropy.
