Harvard Gets No Sympathy for Complaining About New Tax on Its Endowment
Harvard’s endowment reaches into the tens of billions. They can complain about the new tax plan but very few people are feeling their pain.
‘World ends, ivy hardest hit’: Harvard got absolutely TOASTED after bitching about the new tax bill
Add Harvard University to the list of those angry with the just-signed GOP tax reform bill:
The new tax on university endowments will weaken financial aid, faculty and research initiatives, and other institutional programs that support students, professors, and medical and scientific studies https://t.co/FZtxYba4wM
— Harvard University (@Harvard) December 21, 2017
Reading the comments, I’m not seeing much sympathy for Harvard on this one. https://t.co/ov9Z16x7kU
— Ben (@BenHowe) December 22, 2017
Gee whiz, I thought redistribution was a good thing.
What’s weird is how the tax code under Democrats redistributed away from the middle class and to the wealthy. https://t.co/t6RxVAurQy
— Melissa Mackenzie ???? (@MelissaTweets) December 22, 2017
Your endowments are over $37 billion dollars a year. That’s B for billion. https://t.co/UGSnKMLnPE
— Ian Miles Cheong (@stillgray) December 22, 2017
So you have $40,000,000,000 and if you earn 5% you’ll increase by $1,966,000,000 and pay $34,000,000 in taxes.
— Yoenis Cespedes (@AppFlyer) December 22, 2017
You charge $45,000 in tuition. https://t.co/TNXjgf2AM8
— neontaster ???? (@neontaster) December 21, 2017
Donations tax deductible
to the full extent allowed by law.
It appears that the big colleges are in the endowment business. Education is becoming a sideline to investing, activism and saddling students with punishing debts.
One interesting way to balance out this tax is to reduce all of the soft, useless courses. Adopt the college catafalque of 1970, rebalanced for modern advances in sciences, maths, and engineering. That would mean no grievance studies, no race studies, no strange courses in literature etc. And grade on a modified curve. The first benefit is all the social warriors would go to another school.
noun cat·a·falque ˈka-tə-ˌfȯ(l)k , -ˌfalk
efinition of catafalque
1 : an ornamental structure sometimes used in funerals for the lying in state of the body
2 : a pall-covered coffin-shaped structure used at requiem masses celebrated after burial
I’m sure that HaaahVahhd is for the death tax – they just don’t realize that they have died.
Evil spell check went obscure.
The point, I think, is that the Elect are wise, and their money will be spent wisely; while the Reprobates are foolish, and their money will be spent foolishly unless it is taken from them to be spent by the wise. So leaving the Elect’s money alone and taking away the Reprobates’ are both best uses for society.
Or so the Elect might tell us, if they were suicidally honest.
That’s too damn bad, Harvard. Take pay cuts. Make your professors work forty hour weeks. and stop awarding grads cum laude honors with C- GPA’s.