Why are taxpayers supporting multi-billion dollar outfits that pay no taxes without a murmur of complaint from the usual Progressives who chant the "redistribution of wealth" theme whenever they smell the possibility of taking down the white-privileged-upper-class? You know why?
Because the wealthiest, most protected “businesses” in this country are our universities with their huge endowment funds which are tax free. College endowment funds are the tax free savings accounts that are gifted by supporters.
Let’s look at some figures for the money making engines of some top schools in the country: Harvard–$30 billion, Princeton–$21 billion, Yale–$24 billion, University of Michigan–$8 billion, Stanford–$17 billion. And so on and so on. These institutions are basically hedge funds with a university attached to it. They hoard billions of bucks in their bank accounts and pay no taxes on the gifts nor on the interest accumulated.
Basically, the citizens are taken to the cleaners by these institutions. Normal hedge funds have to pay taxes on their earnings. Because they are nonprofits, universities don’t have to. That means the American public effectively subsidizes Harvard’s moneymaking dynamos.
But what are we, the rank and file taxpayers getting for giving these schools such tax breaks that the ordinary shoe shop and bakery on the corner don’t have? What are they teaching our future leaders?
Columbia has a course entitled, “Zombies in Popular Media,” Princeton teaches, “Getting Dressed” and Occidental College has a course, “The Phallus.” And at the premier, top of the line, Harvard Law School, Elena Kagan, Barack Obama’s choice to replace retiring Supreme Court Justice John Paul Stevens on the Supreme Court, is best known for moving Harvard Law School away from requiring the study of U.S. constitutional law towards the study of the laws of foreign nations and international law.
And why are the Black Lives Matter, Move-On, Occupy Movement and all other terrorist-radicals not marching on the hallowed halls of ivy? Why are they not smashing college gates down, breaking their windows and running through hallways burning books and destroying classrooms? Because these universities are the training grounds and battlefields for educated terrorists and fascists. That’s where they learn and thrive.
It’s a rare university that will give a speaking engagement to any speaker with conservative values. At Brandeis, Ayaan Hirsi Ali had her invitation revoked, Ben Shapiro was shouted down at CSU at Los Angeles, Bassem Eid could not speak at the University of Chicago and ditto for Jason Reilly at Virginia Tech.
Anarchy and sedition thrive on the campuses of American universities controlled not only by former 60’s SDS thugs and boards fearful of arousing the criminal elements within their student bodies that are enrolled in order to become more diverse in color and ethnicity. Free speech is dead in the universities.
We are calling for the taxation of all “gifts” and donations that accumulate in the endowment funds of our universities. Let them manage their finances as do other businesses. Let them be more frugal in spending, devote more time to teaching what their students will require for their futures and let them spend less funds on their sports empires and more on their products: our kids. At present they are failures in their responsibilities to our nation.
Sholom Schreirber writes for The Cutting Edge News.