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Good_Burning_Plastic comments on Open thread, Oct. 10 - Oct. 16, 2016 - Less Wrong
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100% doesn't work because then you starve. If I re-formulate your question to "is there any rebuttal to why we don't donate way more to charity than we currently do" then the answer depends on your belief system. If you are utilitarian, the answer is definitive no. You should spend way more on charity.
(And also on how much money you currently donate to charity.)