michaelmechanic.bsky.social
Mother Jones writer/editor; author of "Jackpot," an "entertaining and eviscerating" (Jane Mayer) book on America's wealth insanity; piano player turned punk rock drummer turned old-time fiddler; dad of Gen Zers; gardener; curmudgeon about town.
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But Sec. 112021 raises a comparable 1.4% tax up to 21% for the colleges with the top endowment/student ratios. Princeton is #1—Harvard actually falls beneath the top tier. It's not necessarily a bad policy, but it's being done for the wrong reason: to punish higher ed, and given everything else...
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Yes, and also a lot of downsteam costs to the economy. All the money they "save" by defunding NIH/NSF research, for instance, will have devastating economic and social ripple effects. Ditto the attacks on higher ed. The mind reels.
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Exactly!
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Right, but GOP is always saying govt should run more like a business, and as this former IRS chief told me, no business would deliberately sabatoge its revenue arm.
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Sure, I think something like that could potentially help level out some of our inequality problems. Would all depend on the details, of course.
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pardon the misspelling!
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Because a) most people have few assets to spare, b) GRATs were created by accident (modeled on CLATs, which also are a problem) and c) US laws should penalize the transfer of dynastic wealth, not provide vehicles for tax avoidance by the richest families, and is the opposite of meritocratic.
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I don't know what this poser is talking about. The women in my life communicate pretty damn directly.
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Derangement?
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Right. It's transparently f'd up.
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This could make for some incredible satire
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Hey, we should touch base again soon re nonprofit world.
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Well, it extends what is now in place—AND adds to it. I was calculating from the status quo.
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As a former scientist, I appreciate you using "titrated."