Comments on: Connecticut governor: let’s not tax Yale’s endowment, actually

By: mojo

mojo — Sat, 02 Apr 2016 14:57:26 +0000

Why does the phrase “bill of attainder” leap to mind? Is it a crime to have lots of money in Connecticut?

By: Rxc

Rxc — Sat, 02 Apr 2016 02:13:18 +0000

To me, universities have become the modern day equivalent of the Church during the middle ages. They are the keepers of the intelligentsia who inform the rulers, and they are in the process of gathering wealth, just like the church did. Gentrification of surrounding neighborhoods and the accumulation of great endowments and indoctrination of young people follow the same path. They want to be the power behind the throne.

They need to remember how this all turned out in France after the Revolution, when all the wealth of the Church was seized, and eventually even the churches themselves were taken away.

By: PaulB

PaulB — Wed, 30 Mar 2016 18:45:12 +0000

Governor Scott’s pitch was obviously meant at CT businesses and not really at Yale. However, in the 1950s, the University of Chicago briefly considered relocating from their campus as the surrounding neighborhood turned into a dangerous slum. I don’t know just how serious this discussion went but eventually they chose to start acquiring properties in the neighborhood and to begin the process we now call gentrification.

By: VMS

VMS — Wed, 30 Mar 2016 14:01:41 +0000

Connecticut won second place this year, behind New York, for highest taxed states.

“People living in neighboring Connecticut don’t fare much better than their New York neighbors. Their tax burden is 12.6% and total taxes paid per capita were $7,869.38.”

http://www.marketwatch.com/story/10-states-with-the-highest-taxes-2016-01-22

By: Jt

Jt — Wed, 30 Mar 2016 13:19:50 +0000

I would think there is an even easier fix, just move the endowment. It is probably a seperate legal entity, and if not, can be made one I would think. Also, it has a lot less physical assets, and could go to any state the portfolio managers want to live in, including MA or NY since they dont tax nonprofits. There is no inherent reason a pool of money needs to sit in the same state as its beneficiary.