The writer of this commentary lists three things to do. But he ignores voters demanding the Republican Legislators stop sending money to State Run Universities.
Stop Donating:
Every alumnus should write to their college ASAP to state that not a single penny will be given until things change significantly. This is your chance to be heard, so let them have it with both barrels! (I’ve attached my letter to Duke below). In fact, go it one better and tell them that you will do your best to convince other alumni to stop donating as well. We are in an ideological war – you need to show them whose side you are on.
Halt Student Loan Guarantees:
The higher education system is kept afloat by a sea of student loan debt, much of it guaranteed by the Federal Government. This amounts to a huge subsidy, estimated at $100 to $250 billion per year, funded by our tax dollars. It’s long past time to stop this madness– let the universities compete in the marketplace without these kinds of perverse incentives (and watch those Diversity Deans collect pink slips).
Tax the Endowments:
Again, hit them in the pocketbook. Why should Harvard not pay a penny of taxes on its $40+ billion endowment? It’s always irked me that someone like Elizabeth Warren can rant about businesses “paying their fair share of taxes” while taking a high six-figure salary from an uber-rich institution that doesn’t pay any taxes at all. Tax them now!
Not only do they not pay taxes on their endowments, they also do not pay on the “investment growth” of existing endowment money.
If there’s going to be student loans, they should only subsidize academic disciplines that lead to careers where there is a shortage & high ROI - Return On Investment (taxes). The labor department, trade and professional organizations collect and publish these statistics.