The alleged college admissions cheating scam unveiled earlier this week has already triggered at least one call to change the law regarding some donations.
The announcement comes after federal prosecutors in Boston charged 50 people in an alleged $25 million scam in which wealthy parents allegedly paid bribes to get their children into elite U.S. colleges. "Yesterday's headlines about the wealthiest Americans buying access to our elite colleges and universities is just a new version of an old story," he said in a Wednesday statement that referred to Tuesday's news."While the prosecutor attempted to distinguish these crimes from payoffs in the form of buildings or stadiums to secure access for the undeserving, it is all part of the same corrupt system.
Nice negative spin there.
Endowments, the now called 'bribes', are what built these fine institutions and enable free access to millions of underprivileged students annually! Crazy hypersensitive social media numbskulls without any forethought. Don't you have anything better to do?
How about Repealing the 16th Amendment? Then Congress can’t use the tax code as a weapon on anyone or any entity. Return to excise taxes! Then “the rich” can be targeted & the poor can create wealth! Buy a Ford Fiesta? 0% tax Buy a Bentley? 35% tax Computers make it possible/easy
Better to tax private colleges and their endowments, propery, et al like businesses. Which is what they are.
GOOD IDEA!!!!!
Totally makes sense - Why would you give tax benefit for bribing colleges to get your kids admissions... unbelievable ..
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Source: washingtonpost - 🏆 95. / 72 Read more »