I've been arguing for this for years:
Some endowments will be taxed.
The tax rate is too low, but the camel's nose would get into the ten.
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2 comments:
Knew you would like this one. Yale, Harvard, et al can well afford it. The only downside I can think of is that less rich colleges may be tempted to take added investment risk in order to offset the tax.
Less rich colleges are already exempted from the tax. Only the mega-endowments will be hit, in this round.
Going forward, I'd like to see the rate go up from 1.4% to at least 14%.
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