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.

[catfish1957]

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.

Problem is,  even with the Fed and banking thumb on the gold button, there are other sovereign economies out there that if the $USD would collapse, the Fed will be akin to the little Dutch Boy trying too use  his finger trying to fill 200 holes.  I still watch that commodity index as a benchmark of that event.

Maybe I am a dinosaur, but I still put Crypto up there with 17th Century Tulips.   Big time EZ Come EZ go, by whoever is managing the commodity.

[bilo]

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.

Thanks for the info.

I asked because I've known some people over the years that started "non-profits" and the took huge salaries and padded the expenses. Needless to say I never pursued any business with these people.

So if in reality it is a small number of universities that have billions in endowments, maybe a tax on the endowments over a certain amount would be appropriate. Another approach might be to eliminate any federal student loans to universities with massive endowments.

[bilo]

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.

I think Argentina might be a good test case to see what happens when a country with high inflation closes it's central bank. I'm hoping the new Argentina Pres. is successful in closing the bank.

If we closed the Federal Reserve the Bond market would quickly force the Congress to actually do something about the budget.

[Right_in_Virginia]

I will have too give you back handed props for your ability to defend the indefensible.  If I was a paid operative, I might be careful what I said too.

What did I defend and how @catfish1957 ?   

[Right_in_Virginia]

It certainly appears that way.  I'd like to remind people that Trump vowed that we'd never be a socialist entity under his leadership.

I'd say Donald is a lying dog faced pony solider.  This is not the first time that he has backpedaled on his positions on certain issues.

He indeed is wanting to become a dictator and I'd say he feels 'entitled'.

I know you're disappointed that Ronny's lying flat on his face somewhere in Iowa, but this BS is beyond the pale @libertybele 

[LMAO]

This says to me that Trump would be no different than the dictator of a socialist nation that seizes whatever they want for 'the good of the people'....or whatever

And that’s where it could lead to

It would set a very bad precedent

[Hoodat]

I know you're disappointed that Ronny's lying flat on his face somewhere in Iowa, but this BS is beyond the pale @libertybele 

So you're OK living under socialism with another $12 trillion added to the national debt over the next four years because it means Ronny would have lost?  Clearly, your emotional satisfaction is not conducive with saving the country from economic ruin.

[libertybele]

I know you're disappointed that Ronny's lying flat on his face somewhere in Iowa, but this BS is beyond the pale @libertybele 

??? Seriously @Right_in_Virginia  you're declaring that I'm the one spewing B.S.  Really? Come on, are you going to deny that Trump has backpedaled on many issues?  Are you going to deny that he promised that under his leadership we would never be a socialistic entity?

Careful now, whether or not DJT or RDS wins IA, facts are facts.

Ring a bell @Right_in_Virginia ?? Heck of a speech wasn't it?

https://www.foxbusiness.com/economy/the-crippling-weight-of-americas-rising-socialism


https://www.youtube.com/watch?v=GeJqmV7KzPI

[Maj. Bill Martin]

He indeed is wanting to become a dictator and I'd say he feels 'entitled'.

I agree 100%.  I don't think it can/will happen, simply because the rest of the government and the military would not follow him if he tried to do that.  But I have zero doubt that he'd absolutely love that job if it was offered to him.  The charitable view is that he'd want the job because he believes he's the only one who can save the country.  The other view is that he has a massive ego and would love to be Head of State permanently simply because he'd be the guy on top.  Or maybe in his view, those two things blur together so as to be indistinguishable.

[Right_in_Virginia]

??? Seriously @Right_in_Virginia  you're declaring that I'm the one spewing B.S.  Really? Come on, are you going to deny that Trump has backpedaled on many issues? 

I don't give a damn about this    wilted word salad and won't be sidetracked by it @libertybele

Here is what you said:

It certainly appears that way.  I'd like to remind people that Trump vowed that we'd never be a socialist entity under his leadership.

I'd say Donald is a lying dog faced pony solider.  This is not the first time that he has backpedaled on his positions on certain issues.

He indeed is wanting to become a dictator and I'd say he feels 'entitled'.

I stand by my reply---

I know you're disappointed that Ronny's lying flat on his face somewhere in Iowa, but this BS is beyond the pale @libertybele  

[catfish1957]

What did I defend and how @catfish1957 ?

Defense of Trump?
This delusional comment is beyond a response.  You deflect better than a democrat.

[DefiantMassRINO]

My, what a Socialist thing for Trump to do ... have the Government confiscate private wealth for redistribution.