The new federal tax applies to any college or university that has at least 500 full-time, tuition-paying students—with more than half of them being in the U.S.—and that has assets, aside from those used for charity, of at least $500,000 per full-time student. U of C, Northwestern and Notre Dame look likely to fall into the taxed category, despite being on the cusp of eligibility, giving them a combined liability of about $30 million.
My university will likely pay this tax, given our high endowment per student, but it is a trivially small amount in the grand scheme of things. I just wish universities were not singled out and that it would apply more broadly to all so-called non-profits that pay lavish salaries to their administrators.
Since Hillary failed to steal the election, bribes laundered through the Clinton Crime Foundation are waaaaay down
Governor of Alderaan
6 years ago
It’s about time these rich institutions pay their fair share of taxes
debtsor
6 years ago
Ironic that the communist progressives in academia preach about higher taxes on the rich; and suddenly freak out when they realize THEY are the rich. I’d excise tax these bozos 25%.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
My university will likely pay this tax, given our high endowment per student, but it is a trivially small amount in the grand scheme of things. I just wish universities were not singled out and that it would apply more broadly to all so-called non-profits that pay lavish salaries to their administrators.
Like the Clinton Foundation?
Since Hillary failed to steal the election, bribes laundered through the Clinton Crime Foundation are waaaaay down
It’s about time these rich institutions pay their fair share of taxes
Ironic that the communist progressives in academia preach about higher taxes on the rich; and suddenly freak out when they realize THEY are the rich. I’d excise tax these bozos 25%.