… private colleges’ endowments of more than $500 million. Such a tax, which would not impact individual gifts to the institutions and would be reduced by the amount the schools dedicate to financial assistance, could generate $6 billion for the federal government to use for President Obama’s free community-college proposal. That large sum also could be used more generally for federal student aid programs.
The comment thread for the Washington Post article tells you how profoundly Americans resent it when people interfere with their freedom to subsidize 35 billion dollar organizations.
Shifting the dollars generated under the scheme to community colleges? The rankest Stalinist tyranny. Harvard = The Kulaks.