On April 15, 2010, the White House blog published
President Obama's and Vice President Biden's tax return. The Obama's earned $5,505,409 (mostly from book sales), while the Biden's earned $333,182. More interesting is that the Obama's donated $329,100 to charity, which works out to be about 6%. The Biden's donated $4,820, or about 1.5%. I've previously blogged that I shoot for a minimum of 3%, so I think Biden is a bit low. Obama is doing well.
But of course this begs the question of where to donate your money. Sure, you could give to the places most do: your alma mater, the arts, medical research organizations, or human welfare. But how about something a bit off the standard 501c3? Something were you don't have to worry about a significant portion of your donation getting eaten up by "fundraising and administrative costs"?
One idea I had is basically a twist on a
previous marketing idea I had. If there is a particular book that has ideas that you want to get out there, why not subsidize the distribution? Christians do this for their bible in hotel rooms. Why not do the same with a secular book?
OK, so maybe that level of subsidy isn't possible, but with Amazon and eBay, it is possible to do smaller scale subsidies. Just acquire a bunch of copies of the book you want (maybe talk to a local bookstore about getting them at a discount. I imagine they'd be happy to help). Then price them at or below your cost and wait for the orders to flood in. You now can include your own printed material in the shipment that explains who you are and what you're trying to do. Tell them if they like the book, pass it onto a friend, or get involved in spreading the ideas.
It'd be very interesting if Amazon made things easier by simply taking your money as a subsidy and using it to knock the price of their product down. Of course you'd need a helluva lot of money as the volume they'd sell would be pretty high. There's also danger of people perceiving that the book isn't as good if it has a lower price. It's probably better to have the Amazon price there as an anchor so people know they are getting a deal.
I'd love to hear if anyone does this. Post a comment!