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As New York Mayor-elect Zohran Mamdani’s inauguration looms, the wealthiest Americans are being targeted as a rallying cry. In recent weeks, Mamdani’s criticism of millionaires and billionaires has been echoed by Sen. Bernie Sanders , megamillionaire singer Billie Eilish , and even an entity called “ Patriotic Millionaires ” which demands higher taxes on those wealthier than them.

Of course, philanthropy is patriotic. While the United States has the most billionaires and millionaires in the world, with 902 billionaires and almost 60 million millionaires , we are also the most philanthropic country across many financial and nonfinancial measures. And you certainly don’t have to be a high-net-worth individual

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