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.
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?
“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.