Posted on 02/26/2025 12:46:30 PM PST by DallasBiff
Under a bill proposed by U.S. Rep. Troy Nehls of Texas, Harvard would have to pay half a billion dollars in taxes per year.
A new Republican proposal wants Harvard University to help reduce the federal deficit.
The Endowment Tax Fairness Act seeks to levy a 21% tax on the endowments of wealthy universities, such as those in the Ivy League.
The bill introduced by U.S. Rep. Troy Nehls, R-Texas, on Jan. 15 would increase the existing 1.4% endowment tax instituted as part of the 2017 Trump Tax Reform Plan. Specifically, the tax applies to colleges with at least 500 students and more than $500,000 in endowment per student
(Excerpt) Read more at bestcolleges.com ...
Damn right!
Hey, they wanted us to “tax the rich,” right?
As long as we have income tax I absolutely support taxing educational endowments. They sit on that money and still rip off students piling debt on them. I think the endowment tax should be the same as the highest individual rate, 30+ percent.
https://en.wikipedia.org/wiki/Endowment_tax
I did NOT know about this one.
Increase it to 6% and cut off ALL federal Student Loans.
Stop sending federal subsidies to wealthy universities!
You have to read the full article and avoid all the biases and anti-conservative catch words and angst, to understand to understand that the 21% tas is on endowment INCOME. That’s what I assumed, but it wasn’t clearly stated early in the article.
I’m good with this.
Way too low. Bump the rate up by 10 or 20%.
I agree. Especially if we are going to continue allowing them to access the slower among us in their classrooms to program and brainwash them.
how about 21% tax on unrealized stock gains over 1 billion?
Endowments, foundations, and NGOs should be considered ordinary corporations and taxed as such.
Tax the Hollywood studios and rich celebrities.
“...I’m basically anti-tax, but it’s time for the liberal democrat universities, pay their fair share....”
I’m the same way. They couldn’t pick a better bunch of lib arseholes to tax the verloving crap out of than that bunch.
Make it a nice flat 25% rather than 21% too. Go for those gusto dollars!!!.
I would prefer we create a vehicle for those left with worthless or even no degrees to recoup tuition and opportunity costs from universities.
Add a tax to student visas too
So when is the tax applied when an endowment happens or on current monies? If current monies wouldn’t that be a wealth tax?
Endowment income meaning for example: Yale has $42 Billion in endowments - if their investing and such makes it $43 billion they would be taxed on the 1 billion?
They are “well endowed” so......
Indeed! Harvard has $ 50. Billion in endowments
These are questions for discussion and debate.
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