Posted on 11/03/2017 4:37:52 AM PDT by Anti-Bubba182
Yeah, but wouldn’t the money being used from the endowment would ultimately mean that the university would need less money from Tuition to make ends meet?
There are easily more than a hundred colleges with billion-plus dollar endowments. All foundations should be taxed too.
I’d prefer they ALL lose tax exempt status for donations too.
It is long passed time that “the education industry” is to be taxed.
Collegiate endowments have been, in times passed, nothing more than tax write-offs, for those who could afford them.
I believe with the sensational diploma programs that give America so many “studies” graduates, that not only the endowments to be taxed, but for all those “studies” diploma, a flat sales tax, with the revenue from that tax to enable “studies” graduates an internship in McDonald’s restaurants.
I think it is fair to say that I won’t be sending any of my children to Harvard with my own money.
I was commenting on the fact that you think that people who earn less money should be taxed at a lower rate.
Everybody should be taxed at the same rate. It’s called equal treatment under the law.
And universities should get no tax breaks whatsoever.
Hold on, Harvard went up. It is now 66,900 a year for tuition, room, and board and more for graduate students.
Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha
Yesssss...SOAK THE RICH.
In theory it should, but often these funds are misused. When the financial crisis broke in 2007/2008, wealthy donors (or their descendants) checked on the impact on their endowments and often found the funds were being used for purposes completely outside the scope of the written intention. Schools actually had to return money to the donors (or those responsible for the donations many years later).
I thought the first $24k was not taxed. Did I hear wrong?
“Although the amount is trivial it is symbolic and the Universities are sure to scream.”
It’s not trivial if it’s yearly. 14% over 10 years...
No, that was another poster’s position; I have no issue with a flat tax (given that the current system isn’t working).
How will Harvard afford Liz Warren at $400,000 a year for teaching 1 class? Oh the huge manatee!
Only the investment income is taxed, and only 1.4% of that. The fund itself remains untouched. 98.6% of the growth is untouched.
Maybe the colleges will have a Tea Party.
I can't profess precisely how endowments work or how they're used, but they sound like giant slush funds, serving as tax deductions for those who put in, and a big pot of money for a relatively select few to "direct" to schemes "projects" they find redeemable. Sounds a little like a foundation. I wonder if they ever use them for political purposes?
Prefer to confiscate those endowments and use the funds to build the wall...
Please; can you look at who posted that before attributing it to me?
I like your sense of humor. These days, I doubt there is even one endowment that isn’t managed by some wildly-overpaid political crony or dedicated to Leftist causes.
How about congress eliminate all tax exempt organizations. All income is taxed. Liberal heads would explode.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.