Ever wonder how to get Republicans to donate more to charity? I figured a way out way back on March 17, 2012. Now that Joe Biden is President, there will likely be higher taxes and more effort to work across the aisle. Let's go back in tim.
I'm confused and I need your help! There are supposedly millions of people in the world who believe a Republican is actually going to beat Obama and win the 2012 Presidential election. Of these fine people, many think Mitt Romney will be the leading candidate. Â
You know, the one who on national TV bet Rick Perry $10,000 bucks on something he claims he did not say. Â Way to really connect with the American people Mitt! Â The average household income is around $55,000, and you're talking $10,000 bets?!
Mitt Romney's 13.9% Federal income tax rate on his $21.7 million 2010 earnings is a lower tax rate than an individual making $60,000 a year. Yet, for some odd reason, Republicans believe the middle class of America won't be bothered by this fact and revolt against an “evil rich person” who is out of touch with America. Come on folks, people are selfish and greedy! Â If we can't have our strawberry cheesecake, nobody else is going to have it too! Â We'd rather have the cheesecake rot on the sidewalk for the mice to eat.
There are millions of people in America who are willing to vote on a candidate to raise taxes on other people without being willing to pay more taxes themselves. Â I've written time and time again that this is not right, and we should fight for equality every single day. Â
Discrimination is not OK if you are not being discriminated against! Â But, I also realize people don't really care what I say, or whether other people are being discriminated against. Â People vote with their pocket books, baby! Â Everybody else be damned!
MY GRASS ROOTS PROPOSAL TO GET REPUBLICANS TO DONATE MORE TO CHARITY
I firmly believe President Obama will get re-elected in 2012. The economy is growing, the stock markets are recovering, unemployment will breach 8%, lending is loosening, housing is recovering, and the sun still rises. I also believe that people will vote in their best interests.
Given the majority of people in America make less than $200,000, the level at which Obama wants to raise taxes for individuals, most people don't care if Obama raises taxes because it doesn't affect them. Given Mitt Romney is in the 0.001% and talks about lowering taxes, most of the people he addresses are such a tiny minority that they don't have the power to overcome the majority.
I welcome all Republicans and believers in a Republican Presidential candidate win to bet me what you believe will come true. I am willing to put my money where my mouth is and bet up to $10,000 total just like Mitt Romney. I will accept bets as little as $10 and as much as $1,000 per person to keep it friendly.
The only condition is that if Obama dies before he gets elected, all bets are canceled because that is just too terrible a tragedy.
If I win, all $10,000 will go to various charities of my choice. If you win, all of my money will go to a charity of your choice. This way, the biggest winner are the people who need it most, not us knuckleheads with strong convictions to think rationally and realistically about the future of America.
I've currently got about $2,000 from the online community, and about $3,000 from the offline community in play. I do want to warn you not to read this post, “How To Drastically Increase Your Betting Odds And Help Others” before you place your bet with me. Also, please don't read any of my past predictions either. Have conviction in your beliefs and put some money on the line for charity.
LET'S MAKE A DIFFERENCE! DONATE!
I'm sick of our politicians promising one thing to help our people and our country, and doing another thing. The temptation of money and power is too great for politicians to do the right thing once they reach Capitol Hill. You've got example after example of politicians abusing their power through insider trading, misappropriating government funds, sleeping with interns, and straight out lying about their campaign promises.
I solemnly swear that I will honor all my bets up to the $10,000 limit if I lose. By commenting below, you too, are solemnly swearing to deliver on your promise and send me the money via Paypal or check, for me to distribute to local charities here in the San Francisco Bay Area.
The average percent of income donated to charity can improve. Â We can make a difference by believing in the rationality of the mind. Â If each person bets someone who believes a Republican will win just $100 bucks, and donates those winnings to charity, together we can raise hundreds of millions of dollars for charity!
Related post: Average Stock Market Performance Under A Democratic Or Republican President
For more resources check out my:
- Top financial products page to find the best products for your finances
- Invest in real estate page to invest in my favorite asset class,
- Free wealth management page to manage your money better.
Financial Samurai has been online since 2009 and is one of the most trusted and largest independently-run personal finances today.
The evil rich mantra isn’t working anymore. I’ll take some action if you’re still taking bets. $500 to Samaritan’s Purse.
Oh, OK! You’re on Phil! $500 it is! You take Romney, and I’ll take Obama. You and Larry from Investor Junkie got similar size bets.
Thanks!
Sweet. Good luck. This will make election night more interesting, or it will guarantee a Romney loss given my betting record.
You too. I’m glad you are putting your money where your mouth is!
So many folks who challenge me aren’t willing to bet a thing, meaning, they have no conviction! Why do anything if you can’t back it up with conviction right?!
It’s August 31, 2012. Anybody feeling more bullish about Mitt Romney and Paul Ryan?
If so, my bank is open! Place your bets!
I think Obama will win, but only because the Republicans don’t have anyone worth voting for. Romney is a fool as he tries to talk and like to eat the food from wherever he is. He needs to learn to just be himself. On the flip-side is Santorum, who I voted for when he first ran for Senate in PA, but eventually stopped based on his beliefs. I’m just not forward to all of the twisting of facts for the next six months!
If I thought there was a viable Republican candidate I might take that bet Sam, but there isn’t. It’s too bad.
I don’t trust any of the Republicans running, but I will vote for whoever is up against Obama.
Obama will win because Republicans can’t find anyone who excites their base. Sam, you are going to have hard time convincing someone to give $10 as you’ve put too much of conviction into this post! too late my friend.
[no reply option above, so…]
“Even though I’m telling you it’s not?”
Yes. I detest misleading headlines. Particularly deliberately inflammatory ones.
Permit me to give an example: Let’s accept as self evident that more Democrats than Republicans buy lottery tickets. Let’s also accept as axiomatic that the lottery is a stupid way to invest. If I were to post an article about the lottery on my blog entitled “More stupid things Democrats do”, would that be acceptable? I think not. It would be interpreted as a personal attack on Democrats for something that not all of them do.
If this piece were called “A Grassroots Way To Get The Rich/The 1%/Millionaires To Donate More To Charity”, I would have no objection… but then it probably wouldn’t be so provocative or eye-catching, which, I suspect, is its original purpose.
For the record, I am not a Republican. I am not a Democrat either – in fact, I don’t get a vote. And I have already opined in my own blog that Obama will win – or, more specifically, that the Republicans will lose. But for me, this name-calling is the worst thing about election years.
I will take an opportunity to reply. I think the reason Sam put Republican in the title is he is assuming that Republicans are more likely to think the Republican candidate will win than Democrats are. Since Sam wants to bet on the Democrat – President Obama – he needs to find someone to take the other side of the bet – which as I said would most likely be a Republican.
Thus, if Sam is correct and President Obama is re-elected, Republicans would, “Donate More To Charity”
If you want to see the type thing you are writing about – go look at “Bargaineering” were in one week in 3 different blog posts he asked if different webites were scams – and in the first few sentences of each post – said he did not think they were scams.
David,
I see your point.
Thank you for enlightening me.
Prang!
Wait… so how come you couldn’t see my point, telling you straight up the title isn’t an assumption that Republicans don’t give enough? I feel like I am in bizarro land.
Sam,
Thanks for the BID LOL!!!!!!
I guess I just did a better job explaining than you did!
David M
I love this idea. If I didn’t think Obama would win I would definitely take you up on your offer… but alas, it was not meant to be :).
Bummer! :)
P.S. Even if I did completely miss you point as I waded in to correct the tax info that you quoted, I do think it is important to publish correct numbers when you use them to solidify your points/arguments.
Of course we have courage in our convictions. Does that mean that if we decline to participate in your bet/charity scheme we do not? No, it just means that each of us will vote per our convictions and hope that many with the same perspective do too and the results will be what the results will be. That is the best that we can do. And, as for me, I will continue to contribute to my favorite charities as I deem fit.
P.S. RE; not getting your point, perhaps wading through your paragraphs on your perspective of how wrong the conservative side is on tax and income issues and how they/we can fix that via betting with you caused me to miss/overlook what apparently was your point.
P.S. I do enjoy reading your stuff. Keep it coming!
Even Republicans have no enthusiasm for Romney, but McCain had a much better shot in 2008 until the Economic crisis hit. IF something like that were to happen again, Romney’s chances improve drastically. I don’t believe its going to happen, but I won’t say its impossible for Romney to win, but I wouldn’t put any money on it.
I think Obama’s going to be reelected too. I haven’t been following the debates and interviews much, but being an incumbent puts him at an obvious advantage. I think that’s cool you’re donating winnings to charity!
So far, nobody has taken me up on the offer. I think I made a mistake of writing too convincingly. Is it bad to take out some of my reasonings as to why OBama will win, and play dumb?
Are you kidding me? Go look up charitable contributions of red states vs. blue states. Conservatives give WAY more to charity than Liberals – and that’s because the philosophy of the Left is to give their money to the gov’t and let THEM dole it out.
Vic
This post isn’t about which party donates more or which party is better. The post’s goal is to solve a kink in the system that if millions really do believe a Republican will win, and millions of these same people are good people, they are willing to put even just $10 bucks on their beliefs, which will be donated to charity.
Please let me know whether you’d like to contribute to my charity, or me to yours through your belief in the Republican presidential win. thx!
I stand corrected. And I already give plenty to charity every year.
Really like your blog, BTW. Good stuff.
Best regards,
Vic
Thanks. If you decide to change your mind and put up $10, that would be great! I’ll happily give you $10 for you to donate to whatever charity you’d like. Thanks Vic!
I don’t think many Republicans actually really do believe Mitt or whoever will win. They have hope, but they realize with the improving economy, they are screwed.
It would be great if you could raise $10,000 from them though for charity!! Unfortunately, I don’t think you will have lots of takers because there are a lot of people who just talk, and don’t back up their conviction b/c they have no conviction.
Hope your first name is Roger! Sadly, I think you are right. People won’t get the point of this post b/c they won’t read to the bottom and just the headline. Nor will people put their money where their mouth is and bet on their beliefs.
P.S. And in reality, a couple making $50k in income with no dependents and taking the standard deduction would actually have a taxable income of $31k and an effective tax rate of 12.26%. If they had a couple of children, their taxable income would be substantially less and they would qualify for Earned Income Credit as well which would lower their effective tax rate to almost nothing.
Sam has said it to me on more that one occasion and I’ll go ahead and say it to you, “your missing the point of the post”.
You’re missing the point of the post Al.
Actually, if you were to compare apples to apples Romney files as MFJ and a couple MJF with $50k of income would pay a lower tax rate (13.3%). Your other point concerns to your contest to generate more charitable contributions from republications is wrong headed as well. According to studies – https://www.realclearpolitics.com/articles/2008/03/conservatives_more_liberal_giv.html conservatives give substantially more to charities than liberals. You may want to modify your challenge in order to capture where the real charity shortfalls lie.
The post isn’t making an assumption that Republicans don’t give more than Democrats. We really knows for sure? My proposal is that we can get Republicans to donate more to charity, whether you are a Democrat or Republican because there are millions of people who believe a Republican will win the White House this year!
The big winners are the charities and people who need help the most.
Can I count on you to make a bet?
Thanks
“The post isn’t making an assumption that Republicans don’t give more than Democrats.”
Yes it is. In the title.
Even though I’m telling you it’s not?
I’m going to be the SELF APPOINTED neutral judge. The title says, “A Grassroots Way To Get Republicans To Donate More To Charity”.
In my opinion that title in no way says – Republicans give less than Democrats. It says it is a way to get Republicans to donate MORE.
Thus in my opinion – Financial Samurai is correct :)
It is so interesting how we READ what we want to read – I will admit I do this all them time.
Haha, Thanks David. I don’t know why he is hung up on the title. It’s interesting to understand why though, and why Wizard can’t focus on the topic.
Wizard, are you the Blog Police?
How about this Spokane Al – If Mitt Romney files Married Filing Jointly and Financial Samurai wrote, “…is a lower tax rate than an individual making $60,000 a year.” To make is apples to apples you compare Mitt Romney’s tax rate to a couple MFJ that makes $120,000.
Assuming normal deductions I would guess this person rate would have a federal tax rate of about 20% which is higher than Mitt Romney’s 13.9%. Additionally, assuming each person earned $60,000 they also would pay 5.65% in Social Security taxes where Mitt Romney would not be paying any Social Security tax as he had no “earned income” in 2011.
David M
CPA (I am a Certified Public Accountant but also can mean Certified Pain in the *ss)