Colleges blast endowment target in Republican tax bill (Taxes for Thee ... )

Philly.Com via Bloomberg ^ | 11/03/2017 | Janet Lorin

[Kid Shelleen]

A proposed tax on some wealthy college endowments “has no clear policy objective other than raising revenue,” according to Cornell University, which joined other schools in opposing the provision in the House Republican tax bill rolled out Thursday.

Some private college endowments, many of which are at record values, would be taxed 1.4 percent on net investment income, according to the bill. The provision would increase revenue by $3 billion between 2018 to 2027, according to the congressional Joint Committee on Taxation.

[ConservativeMind]

Tax ‘em to heck.

[SgtHooper]

And at least be sure to remove any tax breaks for the U’s. Enough of this.

[goldstategop]

These are the same people who want other people’s taxes raised... just not theirs.

Yeah, I can see why they’re opposed to the tax cut bill.

[House Atreides]

I.4% on net investment income? Hell, tax them at the 25% corporate rate!

[rigelkentaurus]

And all this time I thought taxes were just to raise money for the operations of government.

When one combines flaming communists and lots of money, it is inevitable that there is corruption and lots of people living very very well from this money, which is not their’s, free of taxes and completely unearned.

[I want the USA back]

HA HA HA! And democrat taxes? hmmm? purpose = to raise revenue?
Tax the $hit out of them, the liberal hell holes!

[ealgeone]

Wait...I thought these schools advocated socialist beliefs?? Well, you gotta pay for those “free” things somehow.

[Dapper 26]

Why shouldn’t they pay their “fair share”?

[Grampa Dave]

Well Duh! Isn’t the real goal of any tax, to raise revenue?

“A proposed tax on some wealthy college endowments “has no clear policy objective other than raising revenue,” according to Cornell University, which joined other schools in opposing the provision in the House Republican tax bill rolled out Thursday.”

[Dr. Sivana]

“has no clear policy objective other than raising revenue,”

And also to ensure that Big Ivy starts to pay at least SOME of its "fair share"!

[Grampa Dave]

Sorry, not fair using reality to show the dark side of these liberals.

[Da Coyote]

Of course they will. A greater collection of scum and villainy existeth not in the multiverse. Gee, that sounds vaguely familiar. :-)

[Bryanw92]

Time for 50 years of Johnson Amendment for colleges. Favor a party and you lose all tax-exempt status.

[Robert DeLong]

Raise it to 4.1 instead of 1.4, as taxes are a form of generating revenue. Make them realize what they expect everyone else to do, except them.

[capydick]

"has no clear policy objective other than raising revenue,”

The same can be said about the Death Tax, the Medical Device Tax and many many others - funny that they decide to speak up now about taxes with no clear policy objective other than to raise revenue.

[BookmanTheJanitor]

They’re rich - tax them at 39.6%

[Skooz]

A proposed tax on some wealthy college endowments “has no clear policy objective other than raising revenue,” according to Cornell University

All tax policy has its objective raising revenue.

I thought these were supposed to be smart people.

[CodeToad]

Universities preach socialism and communism for us but hate it when they get so much as taxed.

[Kid Shelleen]

Rich they are. Note that the proposed tax targets "private colleges and universities whose endowments equal at least $100,000 per full-time student".