A Sanskrit quote (subhashit) says ArthoNarthyasy Karanam', It means money is the cause of destruction. It conveys the fact that excess of money is extremely dangerous. The first reason is the attachment to money rises with .accumulation of more money. All those who rich are stingy because it their stinginess that they are donating their money. If the money were donated, no would become rich.
Second reason is these person kill their conscience. There is quite a large number of poor people in this world. Rich people develop the faculty of mind that ignores the sufferings of others. They are just busy in enjoying their life. If you watch media, they full of stupid details of famous person and their families including newborns to adults. Why? Media wants make them icons. What sort of virtues could be cultivated by such reporting?
When Swami Vivekanad was in America, he was offered a stay in a lavish hotel. When he saw the comforts there,tears came out of his eyes. He said,'When crores of people don't have proper clothing, forget about beds and cushions, how can I enjoy such comforts?' He then slept on a simple mat on the floor.
Bible says, "It is possible for a camel to pass through the tip-hole of the needle but it is impossible for rich person to tread spiritual path."
Once a rich person approached Christ and said, 'I have material wealth but you have spiritual wealth. Please give some of yoiur spiritual wealth,' Christ replied, ' You give me your wealth, I will give mine in return.' The wealthy person was not prepared to part his wealth and returned from the saint without any spiritual experience.
Hence excess of money must be given off as donations in the proper place.