Dave Ramsey says wealthy Americans who give to charity and help others with their own money often go unrecognized because it has become common to assume all rich people are greedy, selfish, and unwilling to pay their fair share in taxes.
The personal finance expert said on “The Ramsey Show” that wealth gives people the ability to step in and help others on a scale most Americans simply can’t.
“If you add up what people in the United States of America, private citizens, give to charitable causes and people in need every year, it dwarfs the entire economy of most small nations,” Ramsey said. “But we don’t talk about that because rich people are evil and they should be punished and they are not paying their fair share.”
Don’t Miss:
Co-host Ken Coleman said critics of wealthy Americans often ignore data showing how much rich people in the U.S. give to others. Ramsey said these debates are not settled with facts and data.
“You can’t debate this with facts,” Ramsey said. “Don’t use facts, don’t use actual numbers and research, that’s not the way you argue things. You’re just supposed to be emotional and go on Twitter.”
According to Giving USA 2025, U.S. charitable giving rose to $592.50 billion in 2024, up 6.3% year over year in current dollars. Individual giving made up about two-thirds of all charitable donations and was boosted by stock market gains and higher personal income.
See Also: This ETF issuer isn’t chasing the index — it’s building tools for income, leverage, and conviction
However, the share of affluent U.S. households making charitable contributions fell to 81% in 2024 from 91% in 2015, according to a 2025 Bank of America study based on a sample of 1,514 wealthy U.S. households.
Wealth indeed makes it easier to help others and pursue personal goals with greater peace of mind. Reaching that level, however, requires careful planning and long-term discipline. Domain Money offers personalized, CFP professional-led financial planning for households earning over $100,000 a year and are ready to take their financial planning to the next level with personalized, expert guidance.
Read Next:
