Trump to take money from college endowments for government-run "American Academy"

[libertybele]

So Trump’s shift to the left is nothing more than him playing 100,000 dimensional chess, eh?

No worries. I'm still confident that they will never allow him to be the nominee or at least near the oval office.

[Smokin Joe]

LOL!  if his intent was to nationally franchise "Hillsdale College", I wouldn't have a problem with it.

Half the people hate us as Deplorables.  And half the people in our own tent hate the other half.

What he is proposing doesn't make any sense to me.

End government funding to colleges? (Including grants and student loan guarantees) Okay.
Taking their money they already have, is just robbery.

It does not matter that I disagree with their curricula, right is right, wrong is wrong.

Besides, the people Robin Hood robbed were tax collectors, the money he gave to the poor was theirs. This isn't a Robin Hood thing.

[GtHawk]

End government funding to colleges? (Including grants and student loan guarantees) Okay.
Taking their money they already have, is just robbery.

It does not matter that I disagree with their curricula, right is right, wrong is wrong.

Besides, the people Robin Hood robbed were tax collectors, the money he gave to the poor was theirs. This isn't a Robin Hood thing.

Exactly how is this different than democrats wanting to rob peoples 401ks? Endowment money at these colleges came from private donors and investments, not the taxpayers so what exactly is the great orange conservatives rational for clawing into some public coffer that he thinks he would have the right to redistribute?

[bilo]

One of the huge coonservative tenants through the years has been our fear of government confiscation of property not theirs.  Land, IRA's, etc.

And Freakin' Trump is endorsing it?  If this isn't raising a 100 blaring red flags for GOP voters, nothing should.

Of course, our resident Trump fans will poo poo this off as campaign rhetoric instead reality like the Freedom Cities and Baby Bonuses.

Couldn't agree more.

I'm not familiar with the tax code concerning University endowments. Does anyone know if they are currently taxed? Also, is the contribution made to the university endowment tax deductible?

Some universities have endowments so large they could cover the ridiculuosly high tuitions of all their students for decades. If the endowments are not being taxed maybe they should.

[massadvj]

Couldn't agree more.

I'm not familiar with the tax code concerning University endowments. Does anyone know if they are currently taxed? Also, is the contribution made to the university endowment tax deductible?

Some universities have endowments so large they could cover the ridiculuosly high tuitions of all their students for decades. If the endowments are not being taxed maybe they should.

Almost all university endowments are charitable foundations. The contributions are tax deductible. There are some universities with huge endowments in the billions of dollars, but most colleges and universities have small endowments and are what we call "tuition dependent." This would be the vast majority of the institutions out there.

[cato potatoe]

Exactly how is this different than democrats wanting to rob peoples 401ks? Endowment money at these colleges came from private donors and investments, not the taxpayers so what exactly is the great orange conservatives rational for clawing into some public coffer that he thinks he would have the right to redistribute?

It’s worse, because it’s real.  The dem leadership probably will never pursue the confiscation of qualified retirement plans.  Dems make up a large percentage of the coastal elite, and their donors will not consent to having their retirement funds stolen.  I can’t imagine the courts would allow it, barring a total collapse of our system.

[catfish1957]

It’s worse, because it’s real.  The dem leadership probably will never pursue the confiscation of qualified retirement plans.  Dems make up a large percentage of the coastal elite, and their donors will not consent to having their retirement funds stolen.  I can’t imagine the courts would allow it, barring a total collapse of our system.

I am a little more bearish, in thinking a collapse is much more likely.  And yes, when our criminally complict government has to cover payment on the debt, and payments to the angry voting, and now majority voting entitlement class?

Dang right, one of the first things the will be seizing is population's IRA and 401K's.  And how will the do it, outside legal challeneges?  Say they are being consolidated for a one-size fits all consolidated social securtiy, one stop shop and payment vis a new and (cough cough) new social security plan.

And precedent?  I turned 65 last year, and I wonder what would happen if I quit Medicare,and tried too opt to a non-Medicare plan.   

[Maj. Bill Martin]

What would be entirely lawful is forbidding federal student loans for students attending schools with endowments over a certain thresholds.  Essentially, requiring those extraordinarily wealthy schools to pick up the tab rather than taxpayers.

[LMAO]

What they will do in order to prop up SS is print, print, and print. We’ve seen the results of doing that under both Trump and Biden but you still will get your SS check but it’ll be worthless.

Both progressives and MAGAs don’t seem to grasp that you can’t print trillions of dollars and pump that into the economy without negative ramifications

[massadvj]

Dang right, one of the first things the will be seizing is population's IRA and 401K's.  And how will the do it, outside legal challeneges?  Say they are being consolidated for a one-size fits all consolidated social securtiy, one stop shop and payment vis a new and (cough cough) new social security plan.

They won't confiscate the 401Ks until they become practically worthless. You can bet members of congress and other insiders will know when it is coming before the rest of us, and when the insiders start cashing out it will accelerate the collapse. Then they will "rescue" the pensioners with a "bailout" that trades their formerly valuable 401K into income. This is how the country will become communist. Once this move is made the US government will own a controlling interest in every public corporation in the country.

The only way we don't end up there is if we get spending under control, and that is an impossibility. Bitcoin, gold and maybe real estate will be the only sanctuaries. The big question is when. The Fed is very good at delaying collapse, so it could be a few generations, or it could happen within months.

The one American politician I trust on this issue is Rand Paul. He is nowhere near powerful enough to prevent anything.

[LMAO]

The one American politician I trust on this issue is Rand Paul.

Same here

I was a supporter of his dad even though he was a bit out there but on the economy and debt and currency, he was as right on as much as the two party front runners are wrong

Are any of the GOP candidate currently running bringing any of this up? Or has the GOP become so Trumpian that none of them dare to?

I’ll probably end up writing the newly elected Argentina president in when I go vote in 2024. It’s a  better choice  than the other two-party front runners.

[catfish1957]

Same here

I was a supporter of his dad even though he was a bit out there but on the economy and debt and currency, he was as right on as much as the two party front runners are wrong

Are any of the GOP candidate currently running bringing any of this up? Or has the GOP become so Trumpian that none of them dare to?

I’ll probably end up writing the newly elected Argentina president in when I go vote in 2024. It’s a  better choice  than the other two-party front runners.

Considering he is about the only poltician in DC who wants to lock up Fauxcii is testament enough for me.

@massadvj  was correct in the trickiness of timing the collapse.  But, one leading indicator I watch intensely is the Price of Gold.  When you start seeing it rocket up exponentially without some credible supporting fundamental , I am guessing the end is near.  As, it will be a harbringer that this utter house of cards known as the $USD is crumbling.

I've been active on the financial front my entire life, and from my POV, it has never been more dire.  Anyone thinking a 35K DJIA is indicative of this economy has lost their marbles.   

[massadvj]

Considering he is about the only poltician in DC who wants to lock up Fauxcii is testament enough for me.

@massadvj  was correct in the trickiness of timing the collapse.  But, one leading indicator I watch intensely is the Price of Gold.  When you start seeing it rocket up exponentially without some credible supporting fundamental , I am guessing the end is near.  As, it will be a harbringer that this utter house of cards known as the $USD is crumbling.

I've been active on the financial front my entire life, and from my POV, it has never been more dire.  Anyone thinking a 35K DJIA is indicative of this economy has lost their marbles.

The Fed and other central banks have enough gold that they can artificially affect the price by flooding the market when the prices start to go up. The one instrument they seem incapable of controlling is Bitcoin.  I am not a big proponent of crypto, mostly because I fail to see the utility. What happens in apocalypse if there is no electricity?  How do you spend Bitcoin?  But so far I have been dead wrong about it.