Taxing colleges' endowments

  1. You have chosen to ignore posts from BostonDotCom. Show BostonDotCom's posts

    Taxing colleges' endowments

    Massachusetts lawmakers are considering fees for private collegeswith endowments over $1 billion, asserting that the schools' rising fortunesundercut their nonprofit status. Do you think the state should be able to tax universities? Do you think these fees would hurt institutions? Is there a better way for the state to raise money?
     
  2. You have chosen to ignore posts from spikethedog. Show spikethedog's posts

    Taxing colleges' endowments

    Demorat tax fiends in this state think nothing is sacred when it comes to funding their waste and incompetence, so why should we be surprised that they want to tax successful universities, ie, TWGU?�

     
  3. You have chosen to ignore posts from heynow98. Show heynow98's posts

    Taxing colleges' endowments

    I think the people that handle the money at these Universities are much smarter than Massachusetts lawmakers and they will find a way to hide the money and avoid any fees.
     
  4. You have chosen to ignore posts from smahoodlum. Show smahoodlum's posts

    Taxing colleges' endowments

    I entirely support the idea of taxing private universities.� Having graduated from one, it makes sense, they pay no taxes to the city and get away tax free as non-profits, when they are clearly making profits.� Always Always tax the rich!

     
  5. You have chosen to ignore posts from fitzudafer. Show fitzudafer's posts

    Taxing colleges' endowments

    the problem here is that they are only taxing the universities because they need more money.� if it was a tax on all universities and proportional to their endowments then that might make sense.

    also, what is this money going to be spent on?� i dont mind harvard, bc, amherst, etc paying the state if the state is going to then spend it on public schools, or something of that sort, but I dont trust the state gov't at all.

    also, its been said that these schools need to do more for the host communities.� don't they own the land?� have towns formed around these schools as the schools have formed in them?� its not as if a town invited the school in and now the school is being a bad roommate...

    finally, a very overgeneralized statement was that these schools dont do enough to give back to the state.� can we assess this on a school by school basis then?� why make all these schools pay if that is your reasoning?� some of these schools definitely do a lot.� some can definitely do a lot more too though.

     
  6. You have chosen to ignore posts from HometownGirl. Show HometownGirl's posts

    Taxing colleges' endowments

    I absolutely agree. I mean just look at Harvard as the perfect example. COuld it own more property or what? I mean the more it buys up property - like the Waterton arsenal the tax money is taken away from towns. It's just not right.There has to be a reasonable cap. �

     
  7. You have chosen to ignore posts from johnm4. Show johnm4's posts

    Taxing colleges' endowments

    Medical advances from reseach labs and teaching hospitals. Technological advances from university research labs. All of the companies that come here because of the strong academic community. These universities are among the largest employers, where the salaries generate income taxes. These and more are real benefits we all receive from having these large universities here.

    I would maybe support some sort of increased minimum payments in lieu of property taxes. This is especially true in the case of the large swaths of land Harvard has secretly gobbled up. This should go to the local town to cover actual costs of infrastucture and fire protection. Endowments should be off limit. When I donate to my alma mater, I don't expect the state to take a chunk of it every year. I don't see how the state could possibly get away with such an absurd proposition.
     
  8. You have chosen to ignore posts from southie77. Show southie77's posts

    Taxing colleges' endowments


    Maybe they could write the law up so that the universities must pay taxes but give them an exemption for monies they set aside for students tuition through scholarships......These billion dollar plus endowments should be getting poured back into the incoming student population so that the school is somewhat affordable to go to.

     
  9. You have chosen to ignore posts from mjp1280. Show mjp1280's posts

    Taxing colleges' endowments

    Then can you please try to explain why a so-called non-profit that does not pay any taxes can justify raising their tuition rates evrery year while the endowment grows and grows.� Where is the charitable purpose?

     
  10. You have chosen to ignore posts from msts-1. Show msts-1's posts

    Taxing colleges' endowments

    The endowment pays for kids to go to the schools already. If you can get into Harvard, you go. No one is turned away because of money.

    The thing that startles me when I see the government starting to mull over tax exempt status is that down the rod SSI is going to collapse. When it does and Medicare/Medicaid go with it, the government will look for new ways to tax. If they can tax tax-exmpt entities like universities and churches today, I would believe that they would think nothing of raiding the vast 401K tax exempt pool.

     
  11. You have chosen to ignore posts from prlambert76. Show prlambert76's posts

    Taxing colleges' endowments

    This pretty much proves that Massachusetts will tax anything that doesn't move and regulate anything that does.�� Should private institutions chip in a little to their respective towns and cities? Sure.� But to tax the endowments, which are supposed to be there for - in the long run - the public good is so short sighted it's not even funny. In fact, its shameful.� Massachusetts needs to learn how to live with a budget, and how to say no to new spending.� New Hampshire is looking better every day.

     
  12. You have chosen to ignore posts from tjbwhs. Show tjbwhs's posts

    Taxing colleges' endowments

    Folks, it all started with the "The War on Public Education", otherwise known as Prop 2 1/2 in 1980.� When the voters decided to cap property taxes and the General Court decided NOT to enact broad-based taxes to make up the shortfall, the slide in public services began.� People may wail about "inefficiencies" and "incompetence" in the public sector, but in reality little "fat" can be found.� In fact, the decaying school buildings, broken roads and dangerous bridges all point to underspending on public infrastructure, caused by�lack of capital spending over more than 25 years.� Add to those problems spiraling�special education costs on the local level (one of every 4 or 5 education dollars) and huge increases in health-care costs�and any reasonable person sees why we need the revenue.So, are we over-taxed in Massachusetts?� Hardly...If tax burdens�among the states are examined based on state by state per capita income, we come out somewhere in the 40's out of 50 states.Blame Barbara Anderson of Citizens for Limited Taxation...or yourselves.� I reluctantly agree with taxing universities with more than� a $1 billion in endowments.� It makes more sense to do that than encourage more gambling ( a cruel tax on the poor) or fee increases (non-tax deductible).� Bottom line: the universities need to pay their fair share.���

     
  13. You have chosen to ignore posts from scotbrad. Show scotbrad's posts

    Taxing colleges' endowments

    This is a foolish proposition for the many reasons already given.� Additionally, I'd like to point out that those endowments fund a considerable number of professorships and other jobs in the state (such as part of all those salaries of people who work at the teaching hospitals and various research centers), and those people pay income taxes to the state.

    So, not only would such a tax plan discourage growth of jobs that come via university research, but it would also involve considerable double-taxing of the money coming from these endowments already.

     
  14. You have chosen to ignore posts from cbreeze. Show cbreeze's posts

    Taxing colleges' endowments

    clever.....lets drive the colleges out of state as well as business

    so we can pay state police 250 thousand a year

    makes sense to me, why didn't we think of it before?

     
  15. You have chosen to ignore posts from sportslover. Show sportslover's posts

    Taxing colleges' endowments

    As long as the money is ABSOLUTELY, POSITIVELY spent on public colleges and universities.
     
  16. You have chosen to ignore posts from sportslover. Show sportslover's posts

    Taxing colleges' endowments

    clg898, those schools are already out of reach for the middle class. You have to make less than 75,000 a year or more than 2000,000 to be able to afford them.� Most middle class kids are going to the state universities.

     
  17. You have chosen to ignore posts from lindonderry. Show lindonderry's posts

    Taxing colleges' endowments

    I'm opposed to this idea.� If the state can do this to a university then what is to stop them from do this to other tax exempt institutions, in the future, such as local religion churchs

     
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  19. You have chosen to ignore posts from tenzenz. Show tenzenz's posts

    Taxing colleges' endowments

    Boy, this is really a quandary, I certainly do not want to see our state legislators get ahold of this money, lord knows the taxpayers of the commonwealth will never see any benefit from it. What? do they need to increase their pension? Or do they have plans for another midnite raise? Not one penny for you legislators. You don't EARN it, You�certainly don't DESERVE�it, based on the state of this commonwealth's finances & infrastructure. You work less than 20 hours a week for @ 10 months of the year, for the 6 figure salary, benefits, & outrageous pensions that you now receive. Citizens in other states think & know that you are all a laughing stock, as are the citizens of this state for allowing you to get away with it.On the other hand, these institutes need to broaden their financial support for the students. There is absolutely no need for them to be holding on to as much money as they do. There should be some limitations on the amount of property that they can purchase & own as tax free, based on the number of enrollments. It's getting out of hand, & that does affect the communities that previously relied on the real estate taxes from those properties.�

     
  20. You have chosen to ignore posts from ballygirl75. Show ballygirl75's posts

    Taxing colleges' endowments

    I think a property tax makes a lot of sense for universities.� It would be proportional to their size and would compensate (at least a little) for the amount of lost residential or commercial tax revenue from university sprawl.� It seems a little more justifiable than an arbitrary endowment tax.�

     
  21. You have chosen to ignore posts from ctx126. Show ctx126's posts

    Taxing colleges' endowments

    I completely agree!!!!! Although I do think that Universities and Churches get away with murder as far as taxes are concerned, I do think it complete BS that the state should now want to go after this money since it has no idea how to manage the tax money it already steals from me.I say look at the problem. If this were a private company, the CFO would have been fired at this point. Why can't the functional equivalent of the CFO�in Massachusetts meet the same fate!!!!!!

     
  22. You have chosen to ignore posts from soxnut007. Show soxnut007's posts

    Taxing colleges' endowments

    This is absolutely ridiculous. No wonder people don't want to live in Taxachusetts. I have many problems with Harvard, but saying they don't give anything back to the community is patently false and irresponsible. These colleges not only contribute valuable jobs and services to the community for the students that are here for four years, but many of these students end up staying and paying taxes in Massachusetts for the rest of their lives. Why should we be taxing endowments made of contributions that alumni have already paid taxes on?

    The second, and most important, reason why this is so stupid is because its only an issue because the foolish legislators in the state house can't spend the money we already have properly or find more legitimate ways to raise funds (Casinos anyone?). If the debate over taxing higher ed had happened at a time when the State wasn't clearly doing this to cover their own behinds then it might at least have the pretense of legitimacy. As it stands however, this is the worst type of pandering and stands to punish some of our most valuable assets for being successful.
     
  23. You have chosen to ignore posts from mn25. Show mn25's posts

    Taxing colleges' endowments

    Private colleges rely on donations to schools to fund programs and research, offer the technology for conducting research, offer student aid and scholarships, be able to afford to hire the best of the best to stay at the top, building maintenance. The student tuition only covers for classes and does not cover for much else.

    I think taxing them is bad news: think of Harvard or MIT only relying on tuition alone! What makes these schools great is that they can afford to get a Nobel prize professor in mathematics or top of the line medical researcher to advance his/her field of study. THIS is what makes Harvard or MIT the best of the best!� They can afford to accept poor but very bright students and offer them a full scholarship.
    I think these top endowment schools should stay the way they are: exclusive to the brightest not the richest.
    Yes, the best and the brightest work for MONEY, not pencils. And they're worth every penny.�
    Let's keep Harvard and MIT the way they are-the best and right here in our back yard.

    However it's only fair that colleges pay for real estate taxes as this is a drain on the town/city.

    Remember, if the system is broken, no amount of money will be able to fix it.

     
  24. You have chosen to ignore posts from pete74. Show pete74's posts

    Taxing colleges' endowments

    Ditto.� Mega-Universities, and, frankly, most� mega-nonprofits (huge churches, some�medical complexes) are consumers of valuable community resources, as well as holding land which is off the tax rolls.� Yet, they operate in many ways that are just like any corporation, often with more regard to their bottom line than any implied social contract with their host communities.� As a graduate, and financial supporter,�of one of the colleges on $billon list, I�have come to view this as�another example of growing financial inequity in our country�which, in this case, is actively abetted by tax policy.-->-->Let us set a reasonable, inflation-adjusted endowment�threshold, including land holdings,�beyond which large�non-profits return a graduated percentage above the threshold.�Money can be apportioned between the host towns and the state.� Further,�let the institutions�get dollar-for-dollar credit for�investing in their communities through, as examples, tuition grants, donated services and no-cost leasing of their facilities to not-so-wealthy public and private non-profit�entities.-->-->It is time to acknowledge that the large non-profits�take in�enormous sums of money�from donations, investments and business operations, such as patent licensing.� They are as far from�hand-to-mouth, storefront�operations as a Wal-Mart is from a family-owned variety store.

     
  25. You have chosen to ignore posts from kalajen. Show kalajen's posts

    Taxing colleges' endowments

    Here's a novel idea.� Stop spending so much money!� The state needs to cut spending before it goes hunting for new "revenue sources".� They already waste too much.� Most of this expected "revenue"� will be wasted as well, or end up in the wrong pockets.� That being said,� I don't think anybody should have tax exempt status, whether you're a non-profit or not.� We all have to� pay taxes, they should as well.

     

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