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Elite universities must purpose endowments to subsidize students' educations dailytrojan.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytrojan.com Daily Mail and Mail on Sunday newspapers.
“Our wealthiest colleges and universities have amassed billions of dollars, virtually tax-free, all while indoctrinating our youth with un-American ideas,” Cotton said in a statement, adding that the revenue would “create high paying, working-class jobs.” Cotton estimates the bill would generate $2 billion per year in revenue for registered apprenticeship programs. And while funding for apprenticeships is necessary, said Sandy Baum, a nonresident senior fellow at the Urban Institute’s Center on Education Data and Policy, taxing endowments of private institutions to generate revenue may not be the way to go. Private college endowments are funded by private charitable donations, and the money is often used for student financial aid, research and campus improvements, among other expenses. ....
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White House press secretary Jen Psaki on Thursday said it is responsible for colleges to teach the idea that racism is embedded in the American system, dismissing criticism that such teaching aims at indoctrinating American youth. In a White House press briefing, Psaki was asked about a proposed legislation by Sen. Tom Cotton (R-Ark.) that would place an one percent tax on the value of the endowments of the country’s wealthiest private colleges, and use that money to support vocational education and training. The reporter noted that Cotton’s proposal would affect institutions that teach “un-American ideas” such as those of critical race theory and the New York Times’s “1619 Project,” which argue the United States was founded as, and remains, a racist nation. ....
Psaki: Teaching ‘1619 Project,’ Critical Race Theory in College Is ‘Responsible’ White House press secretary Jen Psaki on Thursday said it is responsible for colleges to teach the idea that racism is embedded in the American system, dismissing criticism that such teaching aims at indoctrinating American youth. In a White House press briefing, Psaki was asked about a proposed legislation by Sen. Tom Cotton (R-Ark.) that would place an one percent tax on the value of the endowments of the country’s wealthiest private colleges, and use that money to support vocational education and training. The reporter noted that Cotton’s proposal would affect institutions that teach “un-American ideas” such as those of critical race theory and the New York Times’s “1619 Project,” which argue the United States was founded as, and remains, a racist nation. ....