[Anti-Bubba182]

I hope this part passes! Although the amount is trivial it is symbolic and the Universities are sure to scream.

[Neoliberalnot]

Hear, hear!

[Lionheartusa1]

WINNING , WINNING , WINNING !!!

[gaijin]

I think we should make it we should tell the banking industry not to accept credit card payments from the University system.

Juuust like Operation Chokepoint.

[9YearLurker]

So along with the political idiocy of raising the income tax rate (from 10% to 12%) on the first 28k that people earn, while dropping the rate paid from $300K to $1M, it’s good to see this little sliver of a shred of good tax news.

[ctdonath2]

Better to tell universities to start using that money before begging gov’t for taxpayer funds.

[Lockbox]

Below is a list of the 10 universities with the largest endowments at the end of fiscal year 2016. Endowments were examined by campus, not across public university systems. Unranked schools, which did not meet certain criteria required by U.S. News to be numerically ranked, were not considered for this report.

School name (state)

Harvard University (MA) $35,665,743,000

Yale University (CT) $25,413,149,000

Stanford University (CA) $22,398,130,000

Princeton University (NJ) $21,703,500,000

Massachusetts Institute of Technology $13,181,515,000

University of Pennsylvania $10,715,364,000

Texas A&M University—College Station $9,858,672,136

University of Michigan—Ann Arbor $9,600,640,000

Columbia University (NY) $9,041,027,000

University of Notre Dame (IN) $8,748,266,000

Over 166 Billion Dollars just with the Top 10!

[WorkerbeeCitizen]

i want to see cuts in gov and gov spending before any new taxes

[The Toad]

Everyone need to pay their fair share....

[castlegreyskull]

I don’t understand how endowments works. I would like to think they are used to make tuition cheaper for their students.

[Chauncey Gardiner]

It’s wrong these elites were tax free while the rest of us were paying up...time to end the sham.

[KarlInOhio]

Looks like Harvard will have to put money into the most profitable investments possible: senators and representatives.

[jjotto]

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.

[Terry L Smith]

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.

[SoFloFreeper]

Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha

Yesssss...SOAK THE RICH.

[babygene]

“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...

[oh8eleven]

A complete (sortable) list can be found on Wikipedia.

[kjam22]

Prefer to confiscate those endowments and use the funds to build the wall...

[Gahanna Bob]

How about congress eliminate all tax exempt organizations. All income is taxed. Liberal heads would explode.

[The_Republic_Of_Maine]

"Colleges and universities will pay a 1.4% excise tax on their endowment investment income if the "Tax Cuts and Jobs Act" is passed."

Now that is one more great reason to pass it.

[Moonman62]

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.