The Octogenarians

On Thu, Feb 22, 2018 at 1:16 PM, Robert M Vidaver <rmvidaver> wrote:

Thanks for pointing out the Republican onslaught against higher education via their new tax on university endowments under the cover of tax “reform”. In terms of the $1.4 trillion increase in our ten-year deficit the endowment tax is small change—pennies. But that’s not its purpose. Rather the endowment tax is designed to tax higher education in general, reducing the flow of new knowledge from university to public, while simultaneously punishing the purveyors of this new knowledge—the “elite” universities and their liberal faculties. Some facts: $35 million paid by Yale means that $35 million in student aid won’t happen, or concretely, 3500 students won’t receive $15,000 in scholarship money this year. For most there’s no way to replace it; most are already deeply in debt. Many will simply drop out. Conversely, were the $35 million to come from…

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