Hear, hear!
WINNING , WINNING , WINNING !!!
I think we should make it we should tell the banking industry not to accept credit card payments from the University system.
Juuust like Operation Chokepoint.
So along with the political idiocy of raising the income tax rate (from 10% to 12%) on the first 28k that people earn, while dropping the rate paid from $300K to $1M, it’s good to see this little sliver of a shred of good tax news.
Better to tell universities to start using that money before begging gov’t for taxpayer funds.
School name (state)
Harvard University (MA) $35,665,743,000
Yale University (CT) $25,413,149,000
Stanford University (CA) $22,398,130,000
Princeton University (NJ) $21,703,500,000
Massachusetts Institute of Technology $13,181,515,000
University of Pennsylvania $10,715,364,000
Texas A&M UniversityCollege Station $9,858,672,136
University of MichiganAnn Arbor $9,600,640,000
Columbia University (NY) $9,041,027,000
University of Notre Dame (IN) $8,748,266,000
Over 166 Billion Dollars just with the Top 10!
i want to see cuts in gov and gov spending before any new taxes
Everyone need to pay their fair share....
I don’t understand how endowments works. I would like to think they are used to make tuition cheaper for their students.
It’s wrong these elites were tax free while the rest of us were paying up...time to end the sham.
Looks like Harvard will have to put money into the most profitable investments possible: senators and representatives.
There are easily more than a hundred colleges with billion-plus dollar endowments. All foundations should be taxed too.
I’d prefer they ALL lose tax exempt status for donations too.
It is long passed time that “the education industry” is to be taxed.
Collegiate endowments have been, in times passed, nothing more than tax write-offs, for those who could afford them.
I believe with the sensational diploma programs that give America so many “studies” graduates, that not only the endowments to be taxed, but for all those “studies” diploma, a flat sales tax, with the revenue from that tax to enable “studies” graduates an internship in McDonald’s restaurants.
Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha
Yesssss...SOAK THE RICH.
“Although the amount is trivial it is symbolic and the Universities are sure to scream.”
It’s not trivial if it’s yearly. 14% over 10 years...
Prefer to confiscate those endowments and use the funds to build the wall...
How about congress eliminate all tax exempt organizations. All income is taxed. Liberal heads would explode.
Now that is one more great reason to pass it.
Colleges and universities will pay a 1.4% excise tax on their endowment investment income if the “Tax Cuts and Jobs Act” is passed.
...
Well, most of them are cesspools of toxic liberalism that preach Big Government and higher taxes.