The drumbeat of the left. Make billionaires pay "their fair share." But...they have an exception, and that would be the equally leftist private universities. Harvard is sitting on a $53bn endowment. Yale, $42bn. Stanford and Princeton, let's call it $37bn. Now at a mere 4% yield on their endowment, Harvard is pulling in over $2.1bn per year. Rest assured, their investments return more than 4%.
Republicans want these billionaires to pay their fair share. They generously allot $200,000 in assets per student tax free (down from $500,000) and want to garner a 21% tax rate, up from 1.5%. Seems more than fair. Others want to see the rate at 35%, more in line with what the left wants other billionaires to pay. The left conveniently ignores the fact that many of these universities siphon over 50% of NIH grant funds, dumping the money in the general fund, allowing them to divert other monies into growing their endowment.
But the left remains steadfastly against these billionaires paying their fair share, suggesting the tax collected, likely only a few hundred million dollars, is "laughable." You gotta wonder how many working class stiffs paying out a few tens of thousands think their taxes are hilarious.