Posted on 11/03/2017 4:37:52 AM PDT by Anti-Bubba182
Endowments fund the affirmative action scam: No matter how unqualified you are to get into the school through the normal admissions process, you will get in if you daddy gives enough money to the school.
I think any university that has a remedial, or a (insert victim group) studies department should just lose their accredation until they decide to focus on students instead of raking in the free uncle sugar money for fake students that will never graduate and agitate and ruin the experience for resl students
Now that is one more great reason to pass it.
Where did you get that from, cnn?
The tax rate for the first 12K for singles and 24K for married couples is ZERO percent.
“I would like to think they are used to make tuition cheaper for their students.”
That would be a no.
I would be fine with a flat tax and the serious paring back of what the feds do.
But the GOP leadership in congress is out to undermine Trump. Three good ways to do that here are to make him a liar on what he claims the bill does, alienate the working class, and have the bill be so divisive it never gets passed. This appears to set up all three.
I would be fine with a flat tax and the serious paring back of what the feds do.
But the GOP leadership in congress is out to undermine Trump. Three good ways to do that here are to make him a liar on what he claims the bill does, alienate the working class, and have the bill be so divisive it never gets passed. This appears to set up all three.
I think we should tax them at 100%. That will retire the student loan debt in 1 year. Then get the FedGov out of student loan guarantees.
Colleges and universities will pay a 1.4% excise tax on their endowment investment income if the “Tax Cuts and Jobs Act” is passed.
...
Well, most of them are cesspools of toxic liberalism that preach Big Government and higher taxes.
Juat what i have been thinking in the back of my mind.
Every Supreme Court Justice attended Harvard or 6ale as an undergrad. Most top government officials attending those same endowed universities. Those universities receive the overwhelming percentage of research grants. The route to elitist status runs through these universities.
It is the connection machine not the necessarily the home of the best and brightest.
You appear to be correct.
I hope Bannon succeeds in primarying their @$$es.
How did Texas A&M get in that list?
Best and brightest are at MIT.
Oil money
{fair is fair, right, liberals?}
Universities use endowments the same way individuals use retirement accounts. The idea is to build up the principle until the yields/dividends provide income sufficient for whatever goals one may have. For universities it may be a new department, for an individual it may be taking the grandkids to Disney.
As far as levying an excise tax on these endowments, I have several misgivings. I assume endowment donations can be tax deductible, but it is not dollar for dollar so much of this money has already been taxed once. It will be further taxed if it is paid out as salary or to pay for a new building. Additionally, endowments are used to provide need based scholarships, the burden of which would otherwise fall upon the taxpayer in the form of financial aid or government provided student loans.
My main objection is that this seems to be an attempt to use the tax code to punish disfavored institutions. Endowment funds are investments, meaning they are a source of capital. If you tax something you get less of it. Why would we want to impose an incentive that deliberately shifts capital away from productive use? Universities will end up holding more cash, to the benefit of no one.
Churches next.....
Except no one has a retirement account worth 35 billion!
It’s about time. Uni education has become a gigantic racket.
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