The Richest Colleges Are Fighting To Protect Their Endowments From Taxation

[Ptarmigan]

The Richest Colleges Are Fighting To Protect Their Endowments From Taxation
https://www.zerohedge.com/markets/richest-colleges-are-fighting-protect-their-endowments-taxation

Before Donald Trump announced plans to cut $400 million from Columbia University, top U.S. colleges were already preparing to counter financial threats from his administration, according to a new report from Bloomberg.

The grant cancellation, citing alleged inaction against antisemitism, is one of several tactics Trump is using to pressure elite universities. These institutions also face potential tax hikes on their endowments and are actively working to block them.

Given they're the institutions churning out pro-taxation far left radicals, kind of ironic, no?

Bloomberg writes that Harvard has hired a Republican-friendly lobbying firm, while Princeton’s president is spending more time in Washington to defend its $34.1 billion endowment.

The large elite colleges have huge endowments. They are not taxed. They should be taxed like everyone else to be fair.

[SVPete]

Whether Harvard or University of Elbonia, they should be able to show that their operations - income and outflow - are balanced (= no profit) and saved $$$$ is only for specified projects/purposes. "Endowments" with no designated purpose should be taxed and treated as taxable income when received. That is the standard applied to other non-profits, e.g. churches or orgs like the Billy Graham Evangelistic Association.