This thread is still jumping, and thats cool and all - but the question is not answerable because there are situational ills that can come from all three and so it highly depends on the particular circumstance. In a bubble though private investment is the answer.
But the question IS answerable for those who are able to see a big picture concept apart from the anecdotal illustrations.
The critical thinker can appreciate that there are components of government that are necessary and essential for a democratic republic such as ours in which the first and foremost emphasis is on individual liberty. And he/she understands that the fact that some government is necessary and helpful does not negate the fact that way too much of the federal government is currently self serving, wasteful, corrupt, extravagant, improperly intrusive and producing far too many unintended negative consequences.
As a result, despite necessary functions, much of $100 million in taxes collected is swallowed up in the beaurocracy or wasted and does little or nothing to benefit society plus the additional disadvantage that it must remove the $100 million from the private sector economy before it can use it.
The critical thinker can appreciate that there are self serving and corrupt charities that are doing only enough to benefit society to keep their 5013C license intact and such do not deserve our money nor our respect. But the fact that such organizations exist does not negate the fact that there are wonderful, caring, selfless, and truly giving people running wonderful charties that are doing wonderful things. And such organizations do deserve our money, our encouragement, and our gratitude and respect.
Even when we give to the very best charities, however, they can only accomplish so much and have only so much reach however virtuous that reach is. And, like the government, the $100 million must be removed from the private sector economy before they can have it to use.
The critical thinker can appreciate that there are corrupt businessmen and woman running organizations that have little to commend them. But such organizations are fairly rare with the vast majority of private sector commerce and industry consisting of people trying to create and/or produce a product or service that is attractive and useful enough that people will buy it. And all the money toward that end boosts the economy via buying, providing useful products and services, and providing income for others to earn.
So the $100 million invested in starting, growing, or expanding a successful business is far more likely to benefit society overall by boosting the economy, via buying and paying taxes and creating other consumers and taxpayers, and creating the wealth that promotes more commerce and industry, funds the government, and creating sufficient expendable wealth of which some will go to good charities and, more importantly, making charity less necessary.
The critical thinker understands that there is good and bad in all things. But he/she can appreciate that on average, overall, and in the final analysis, the $100 million is far more likely to benefit society as a whole when invested in successful commerce and industry no matter how crass, greedy, selfish, or self serving is the person engaged in it.