The Color of Irony Is Crimson
In a leave-no-stone-unturned search for more revenue, the Massachusetts legislature has ordered a study of the implementation of a 2.5% “annual assessment” on college and university endowments which exceed $1 billion. Nine Massachusetts institutions of higher learning would be affected by what would be a first of its kind assessment.
Glenn Beck points out the fabulous reaction of an official of one of the institutions that would fall into that category. Harvard’s Associate Vice-President for Government, Community and Public Affairs, Kevin Casey:
[Can we get him to address the Rhode Island General Assembly?] Beck breaks it down.
You’d be taxing success here.
* * *
Over time this would put us at a real competitive disadvantage which would drastically hurt the Commonwealth.
No, you’re kidding me. It’s like you’re taxing success by taxing people who are making money and who happen to be richer than others? You’re taxing success? Boy, Kevin, I never looked at it that way. You might be onto something there. “Over time this would put us at a real competitive disadvantage.” No, it would put Harvard at a disadvantage against those who didn’t get taxed? No. Who might pay a lower tax? It might put that company at a disadvantage? No, no, Kevin, you’re looking at it wrong.
* * *
In the final insult to injury he goes on to say, “And it would hurt the commonwealth. It would hurt the state.” How? How? Are you saying because Harvard wouldn’t be able to have so much money so they couldn’t grow? So they couldn’t hire more people? They couldn’t bring more people into the state? I never thought of that when I was thinking about taxes and companies. I just thought, oh, they’re screwing the state; the bigger they get, the more people they hire, the more people that live here. It’s crazy. It’s almost like you’re talking about the philosophy of, oh, I don’t know, Texas. It’s almost like you’re describing the philosophy of, oh, I don’t know, a conservative. It’s like you’re taxing success. No, Kevin, you’re wrong. It’s not like we’re taxing success. We would be taxing success.