“Oh, of course, Harvard’s $32 billion fund is tax-exempt, of course.”
And, what’s better, I expect 98% of the Harvard faculty and administration support that so-called “Buffet Rule”, by which people who actually earned the money from which their investment income came, now be taxed a second time at a 30% rate on those gains and dividends.
No one “owns” the fund and get’s the return, it simply gets either used by Harvard however they see fit or get’s reinvested.
Just a self-perpetuating leftist’s dream fundraising/propaganda vehicle.
The entity they hijacked, Harvard, is an “indoctrinate the indoctrinator” scheme, where those indoctrinated go out and earn money in their post-college careers as propagandists and agents of the left. With some of the money they earn they then a) donate to the endowment and b) sometimes pay Harvard to indoctrinate their children as well.