I don’t think they should be taxed on their existing endowments, on income the endowment earns, definitely though.
On the basis of the loan money collected by the colleges from the students, as well as the interest om them paid to the creditors, the universities exponentially grew their economies beyond the imagination of the 1950s mindset.
Now, a significant portion of their conned college-bound teenagers have no useful "learning" beyond that a truly functional high school could have provided.
Time to penalized these institutions that magnified their administrations without really improving their product or selecting wisely the ones to receive it. A student by the end of the sixties just became the golden pot a college could simply pluck their funding from before it was even paid for by the student.
Time to penalize them for it, not just generally, but specifically for the degreed student who cannot quickly find employment at a living wage. Let the university pay back the student some, or a lrge portion, of what was spent to obtain that useless piece of paper.
A poor suggestion, but one that embraces the guilt that both the actions of the duped student and the betraying academics have created.
Agreed.
Well they’re always saying “tax the rich”…
1. Make the universities assume the outstanding student
loans; including the collection of principal and
interest.
2. Any new student loans would be made by the universities
out of their endowments.
3. Any grants by any federal department must be made public
and reviewed for necessity or benefit by an impartial
third party.
We’re talking about a lot of money here, that taxpayers wouldn’t be on the hook for.
I do not like selective taxes. If a particular tax is a tuly good and right idea, it should have universal application in a broad category, not carve out exceptions.
Instead of the “endowment” tax, I’d like to see all non-public colleges treated as “for profit” institutions, as, the big private ones can pretend they are “not-for-profit” yet, with tuitions, government grants and endowment earnings they often have “net” earnings, and in the real world that is considered profit. It would not hit the smaller “not-for-profit” colleges , as often or as many of them, as they are less likely to have “net” earnings over tuitions annd education rrants.
How could the monster colleges lower their tax on net earnings? They couold lower their tuitions.
A simple law change would be to make universities liable for student loans in default if the students attended their university.
It would not even be a tax but would feed lots of money into the Treasury.
The universities need to be destroyed.
“I’m basically anti-tax, but it’s time for the liberal democrat universities, pay their fair share.”
Don’t forget to say “billionaire” liberal democrat universities, that really makes it fair!
Between Harvard and Yale, they can afford to chip in enough to buy a new nuclear powered submarine or two.
What a great idea!
Finally! Bring those commies to heel!