The Gospel of Wealth

No, this is not a post advocating for or condemning the prosperity gospel that some preachers preach. The Gospel of Wealth is a book (first titled "Wealth") that was written by philanthropist Andrew Carnegie. Here is what the wiki says about it:

In Wealth, Carnegie examines the modes of distributing accumulated wealth and capital to the communities it originates from. He preached that ostentatious living and amassing private treasures was wrong. He praised the high British taxes on the estates of dead millionaires, remarking that "By taxing estates heavily at death the State marks its condemnation of the selfish millionaire's unworthy life. It is desirable that nations should go much further in this direction." His "gospel of wealth" earned much praise, but did not win many converts. Carnegie made it clear that the rich were best suited for the recirculation of their money back into society where it could be used to support the greater good, given that they are presumed to have a penchant for management of capital. However, he shunned aristocratic chains of inheritance and argued that dependents should be supported in moderation, with the bulk of excess wealth to be spent on enriching the community. In cases where excess wealth was held until death, he advocated its apprehension by the state on a progressive scale: "Indeed, it is difficult to set bounds to the share of a rich man's estate which should go at his death to the public through the agency of the State, and by all means such taxes should be grated, beginning at nothing upon moderate sums to dependents, and increasing rapidly as the amounts swell, until of the millionaire's hoard, at least the other half comes to the privy coffer of the State. He claimed that, in bettering society and people here on earth, one would be rewarded at the gates of Paradise.

A few key points and my commentary about Carnegie's ideology:

1. Carnegie's idea did not win many converts: It is a sad reality that the wealthiest amongst us are not philanthropists. Percentage wise more is given to charity by the poor than the rich. Even religious people are not generous tippers.
2. Apprehension of estates by the state on a progressive scale: I suspect that most of us will balk at this idea because we want to pass on our estates to our families and not strangers. The next question raises the issue of how much should be passed on. 
3. Dependents should be supported in moderation: Whether before or after death this seems to be a good idea. Inherited wealth rarely does anyone good when it is lavishly bestowed to ungrateful heirs. It is good for people to earn their keep.
4. Ostentatious living and amassing private treasures is wrong: Reminds me of the rich man that came to Jesus and was instructed to sell all he had. Also remind me of the man who kept building larger barns for his grain and was called a fool when he died.
5. Bettering society and people here on earth will be rewarded after death: Also reminds me of a passage in the bible where Jesus tells us to lay up treasure in heaven. Salvation comes by grace. Gracious giving should be evident in the life of a believer.

I am interested in what you think about Carnegie's thoughts about wealth and philanthropy. Please let me know what parts of his ideology you agree or disagree with.