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 ...
This is confiscation and will never be acceptable under the Constitution. It’s stunning what lengths of gross injustice people will tolerate, so long as it’s done to their enemies. Total absence of principles.
Fair share? You don’t honestly think that would apply to the left do you? That is your part. They comprise the takers, the seedy, grimey parasites that infect the host. Other than that, they mean well.
So if bombs were coming from the enemy, you would say don't fire back.
only after they pay off all the student loans they engendered.
only way to cut the knees off of the academy and get rid of the leftists
I don’t think they should be taxed on their existing endowments, on income the endowment earns, definitely though.
I’m not really on board with this either. Just stop giving the universities public money. They can get it from alumni and companies - which they do already.
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.
Please don’t be stupid.
Stupid how? Just because Harvard should pay their fair share, is controversial?
Agreed.
“the 21% tax is on endowment INCOME.”
“Yale has $42 Billion in endowments - if their investing and such makes it $43 billion they would be taxed on the 1 billion?”
I assume they would be taxed on $1Billion. $1 Billion would be the sum of dividends, interest, and capital gains that have been realized. With $1Billion in income, they would be in a high tax bracket. They might reconsider what they teach their students about progressive taxation.
We lose both ways, especially those on a retired fixed income in which the inflation of the economy is distressingly ballooning.
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.
Talking like the Left is a bad look.
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.
We lose both ways, especially those on a retired fixed income in which the inflation of the economy is distressingly ballooning. The ones who in the past between 17 to, say, 22 (or more if entry into a graduate school immediately ensues) wpould have been paying into Social curity or retirement funds, simply now are not contributing, and for this gap, only spending. that's a five-year block of Social Security funding from present earnings (as initially conceived0) that is empty, blank, never to be recovered, and on-going into deeper personal debt.
It would be great to get rid of taxes.
But if we cannot taxing our enemies is an excellent second choice.
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