Middle-class philanthropy may be dying.

Citing a study released by the Indiana University Lilly Family School of Philanthropy, “National Review” magazine says the share of American households donating to charity nosedived from 66 percent in 2000 to 50 percent in 2018.

And only one-third of the decline was directly attributable to economic hardships, with the remainder coming from decreases in interpersonal trust, decline in empathy and an unfortunate “give until it hurts” loophole that lets people identify as the Princess and the Pea. (“Ouch! I got whiplash signing that donation....