Word: taxed
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Several Harvard faculty members said yesterday that a proposal to weaken the tax-exempt status of donations to Harvard and other cultural institutions would not have the intended effect of encouraging contributions to charities for the underprivileged...
...editorial published in the Los Angeles Times on Oct. 1, Robert B. Reich, former Secretary of Labor under President Clinton and a former professor at the Kennedy School of Government (KSG), wrote that donations to institutions that “serve the rich” should only be 50% tax-deductible, while contributions directed to charities for the poor be fully deductible...
...editorial followed debate in the Senate last week of a law that would allow the government to regulate University endowments. Among the options discussed were repealing the tax-exempt status of university endowments and mandating minimum yearly payouts to help lower tuition costs...
...What they ought to be doing, if they really want these institutions to be more equitable in their distribution, is to increase the tax benefits of individuals who support scholarship aid,” said Peter D. Hall, a lecturer on nonprofit organizations at the KSG. He described the editorial as “simple-minded” and “unworthy of Reich...
...proposed $35 billion SCHIP expansion is being paid for by a 61-cent increase in federal taxes on tobacco products, a move Kuhl and many Republicans oppose as a "tax increase." Adding to Kuhl's woes, Massa accuses him of being in the pocket of big tobacco since he's received $10,000 from Altria and R. J. Reynolds, the two largest U.S. cigarette manufacturers, since 2006, according to Federal Election Commission Records. Kuhl dismissed such accusations with a laugh, saying he isn't even committed to running again yet so the term "opponent" hardly applies to Massa. "I would...