14 May 2008

What Else Can They Tax?

, , ,

How about the endowments of major universities? Massachusetts is thinking about doing just that.

WSJ:

Massachusetts legislators, demonstrating a growing resentment against the wealth of elite universities in tight economic times, are studying a plan to levy a 2.5% annual tax on the portion of college endowments that exceed $1 billion.

After all, as Jim Manzi notes:

Viewed purely in terms of economics, Harvard is really a $40 billion tax-free hedge fund with a very large marketing and PR arm called Harvard University that has the job of raising the investment capital and protecting the fund’s preferential tax treatment.

Hat tip to David Nix.

StumbleUpon.com
Comments

Please Leave a Comment!




Please note: Comments may be moderated. It may take a while for them to show on the page.













Feeds
Entries (RSS)
Comments (RSS)
Feed Shark