Taxachusetts Turns On Its Own May 10, 2008
Posted by fitsnews in : US Politics , trackback
STATE LAWMAKERS SET SIGHTS ON HARVARD’S $34 BILLION ENDOWMENT
FITSNews - May 10, 2008 - If there is an epicenter of politically-correct, big government “blow-hardism” in America, it’s Harvard University. Only at Harvard is it OK to invite former Iranian dictators to speak, yet snub Ronald Reagan. And yes, they’re one of our advertisers (not to mention the alma mater of Sic Willie’s papa ), but that doesn’t mean they don’t deserve every bit of this ironic twisting of government’s knife in their backs:
Massachusetts lawmakers desperate for additional revenue are eyeing the endowments of deep-pocketed private colleges to bolster the state’s coffers by more than $1 billion a year, asserting that the schools’ rising fortunes undercut their nonprofit status.
Legislators have asked state finance officials to study a plan that would impose a 2.5 percent annual assessment on colleges with endowments over $1 billion, an amount now exceeded by nine Massachusetts institutions. The proposal, which higher education specialists believe is the first of its kind across the country, drew surprising support at a debate on the State House budget last week and is attracting attention in higher education circles nationally.
It really is difficult to contain our glee on this one. Seriously, these elite private havens birthed the voracious, unsustainable beast that is big government, and now that beast is looking to feed on them in its “hour of need.” Talk about poetic justice.
Ordinarily, we oppose government plunging its grubby paws into new pockets, but in this case we hope they get every red cent they can. It would serve Harvard and the rest of those left-wing ass-clowns right.
Comments»
About what you could expect from a state that continually sends Ted Kennedy to Washington to legislate their way of thinking on the rest of the nation.
FYI: no one actually sends Ted Kennedy anywhere…he just shows up…like Al Sharpton.
Please. How can stealing endowment money from colleges not be political suicide, particularly in a state with such a high level of education? Why not hit up the Red Cross, St. Jude’s Children’s Hospital, and Habitat for Humanity?