Word: taxed
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...Knowles’ excuse is tremendously weak. Given the unique position of student groups (relative to other gift account holders in FAS) and the small relative size of these groups, Knowles could have easily lifted the tax for the small number of gift accounts held by student groups. At the very least, he could have suspended it for a year to allow student groups to take appropriate actions in response to the tax. Such an action would not have been warrantless micromanagement; it would have demonstrated a prioritizing of student life...
...Since Knowles has taken over, however, the student-friendly attitude seems to have disappeared. O’Brien’s firing this summer was the first indication, and the gift tax is the first concrete issue on which Knowles’ apparent indifference toward student interests is nakedly apparent. He is treating students as just another FAS constituency rather than as a central element of FAS’ mission that deserves extra attention. This de-prioritization of undergraduates has, in the past, led to horrifying misuses of University resources. To give one stark example, the University built a library...
...hearing also considered whether tax benefits and incentives are being implemented in the most efficient way for universities...
...need to think whether these reserved spaces at our top colleges is a public policy that should be subsidized by the tax code—as is currently the case—and also whether it is in keeping with the requirement that as charities, colleges and universities operate in the public interest,” the chairman, Senator Charles Grassley, said in his statement from the hearing...
...last hearing as chairman, Grassley, a Republican from Iowa whose committee has been looking at the tax- exempt status of several non-profits including hospitals and universities, heard testimony from witnesses, which included the author of “The Price of Admission: How America’s Ruling Class Buys Its Way into Elite Colleges—and Who Gets Left Outside the Gates,” Daniel L. Golden ’78, and two Harvard professors...