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| Home Front: Culture Wars |
| Robert Reich: The Ivy League is ripping off America! |
| 2014-10-17 |
| h/t Instapundit Imagine a system of college education supported by high and growing government spending on elite private universities that mainly educate children of the wealthy and upper-middle class, and low and declining government spending on public universities that educate large numbers of children from the working class and the poor. You can stop imagining. That's the American system right now. Government subsidies to elite private universities take the form of tax deductions for people who make charitable contributions to them. In economic terms a tax deduction is the same as government spending. It has to be made up by other taxpayers. Wrong but let him keep rambling for now... These tax subsidies are on the rise because in recent years a relatively few very rich people have had far more money than they can possibly spend or even give away to their children. So they're donating it to causes they believe in, such as the elite private universities that educated them or that they want their children to attend. |
| Posted by:g(r)omgoru |
| #12 What are you complaining about Robert Reich, you got yours, they made you. And look at you, you are pond scum making more than most when you worse than useless. You are actually detrimental to everyone but they pay you anyways. |
| Posted by: newc 2014-10-17 22:09 |
| #11 Weak-smiling, unbusinesslike tyke, A gnome-of-Zurich lookalike, Gives speeches and leeches And teaches: O'erreaches! His shortfalls have not deterred Reich. |
| Posted by: Zenobia Floger6220 2014-10-17 21:50 |
| #10 Ah, but it's part of the California University system. Meaning that taxpayers are directly on the hook. Mr. Reich obviously isn't ashamed of where he gets his money from... |
| Posted by: Pappy 2014-10-17 19:40 |
| #9 Last I read, Reich taught one class a week at Berkeley for about 250K a year. So fuck him... |
| Posted by: tu3031 2014-10-17 19:33 |
| #8 Sorry dumbass. If you are poor, black, brown, Disadvantaged woman, these donations pay for you. If you are white middle class or upper class, they do not pay. So this Reich dude is just spinning class warfare. Take away the ability to get tax free charitable donations and watch the minorities dry up on the Ivy League campuses. |
| Posted by: 49 Pan 2014-10-17 12:45 |
| #7 In economic terms a tax deduction is the same as government spending. It has to be made up by other taxpayers. I'm sure the esteemed Mr. Reich has instructed his accountant not to claim any on his tax return... |
| Posted by: Pappy 2014-10-17 10:39 |
| #6 Airandee, I accept your friendly amendment... |
| Posted by: Steve White 2014-10-17 10:32 |
| #5 using the liberal methodology of solving inequity problems the endowment of ivy leagues should be taxed at 39% and sent to community colleges. |
| Posted by: airandee 2014-10-17 09:18 |
| #4 Easy problem to fix. I like fixing problems -- 1) draw a line above which endowments are taxed as ordinary income 2) tax all endowment earnings at the capital gains rate 3) require an endowment to spend donated principal within a fixed period of time or else have it be subjected to a penalty. If Mr. Megabucks gives Harvard $100 million, spend the money on the institution -- new buildings, programs, faculty, etc -- or watch (say) $30 million of it taken away. Part of the reason for an endowment is to protect an institution against a rainy day. Well then, Harvard's $32 billion will protect it from a category 5 hurricane. But once you get to a certain point you're weather-proof, as it were, and the money should be spent. |
| Posted by: Steve White 2014-10-17 08:54 |
| #3 Keep in mind that Mr. Reich is a 'Limousine Liberal' to the n'th degree. Ivy League indoctrinated (Dartmouth & Yale). |
| Posted by: Mullah Richard 2014-10-17 08:06 |
| #2 In further news, water found to be wet at least 90% of the time, and wild bears being given an EPA fine for, well... |
| Posted by: ed in texas 2014-10-17 07:39 |
| #1 Ban all ivy leaguers from elected office and GIVERnment jobs. Problem will fix itself. |
| Posted by: Airandee 2014-10-17 06:44 |