There are over 3,000 four year colleges and universities in The United States.
Ranked by the size of their endowments, just the top 100 colleges and universities have endowments totaling over $240 billion. That’s right. That’s billion, with a “b.” What do you think our total would be if we added in the other 2,900 colleges? Like Darth Vader would say…, “impressive.”
Their average annual investment gain is about 11%, or $26.4 billion, tax free. Again, that’s just the top 100.
House GOP leaders just recently released their new tax legislation proposal called the “Tax Cuts and Jobs Act.” Under their new proposal, private colleges and universities would pay a 1.4% tax on their endowment investment income. Currently, college endowments are not taxed at all.
The top 10 university endowments hold an unbelievable amount of wealth. Harvard University’s endowment stands at $37.1 billion, while Yale University can boast an endowment fund of $27.2 billion. What are they doing with all of this money?
“University endowments pay for student financial aid; faculty salaries and benefits; much of the research, teaching and learning they all do; and the infrastructure that makes it all possible, including libraries, computers, museums, and lab equipment,” a spokesperson from Harvard told Business Insider Magazine in 2015.
Really? Tuition and fees at Harvard are about $65,000 a year, which gives the college an annual income of about $1.4 billion. What are they doing with all of that money then? Nothing that could be construed as patriotic, conservative or constitutional I would hazard to guess. And this doesn’t even take into consideration annual federal and state subsidies to colleges that total over $100 billion nationally. That’s a high price to pay for a socialist indoctrination.
So even though all of these colleges are virtually drowning in money, our government, many students, and their families, are on the hook for over $1.45 trillion (yes, that’s trillion with a “t”) in student loan debt.
Do you ever get the feeling that you’re being taken advantage of? Do you ever get the feeling that almost everything is rigged against you in this country? That’s what it’s like when you live outside of “the swamp” and you’re looking in.