Tuesday, September 8, 2015
Harvard, Yale, Stanford endowments: Is it time to tax them?
“The joke about Harvard is that it’s a hedge fund with a university attached to it,” Mark Schneider tells me. It’s a quip that, for obvious reasons, has become pretty popular in recent years. In 2014, the university’s legendary endowment, overseen by a team of in-house experts and spread across a mind-bending array of investments that range from stocks and bonds to California wine vineyards, hit $36.4 billion. “They’re just collecting tons, and tons, and tons of money,” says Schneider, a former Department of Education official who is currently a fellow at the American Institutes for Research.
They're wasting money. Tax them so we get to waste it. By "we" I don't mean us. I mean them.
Screw taxation. Instead deregulate, eliminate all subsidies and force them to compete directly for customers.
Posted by: Jonathan | Sep 8, 2015 9:16:15 AM