Facing a $220 million budget shortfall, Democrats in Hartford have proposed taxing the unspent earnings of university endowments with more than $10 billion in assets. Only Yale’s $25.6 billion endowment—the country’s second largest after Harvard—fits the tax bill. Yale’s tax-exempt investments earned $2.6 billion last year, eight times more than the University of Connecticut’s $384 million endowment. Oh, the inequality!
Indeed. Hartford’s Progressive government plainly thinks that, at a certain point, Yale has made enough money.
No one is safe when progressives run out of other people’s money.
Not even fellow Progressives.