Renaming the Old Park

 Following the lead of the Classics Department, we should translate the motto from "Dei Sub Numine Viget" to "Under DEI She/He/They Flourishes."

Poet in Left Field

 let's begin with this

the 1.4% excise tax is unconstitutional

although endowment earnings should be taxed

and contributions should not be deductible,

given that the tax is arbitrary and capricious,

there is an easy avoidance that has side benefits,

namely, common decency.

the tax does not apply to schools

with fewer than 500 tuition-paying students.

no tuition, no tax.

duh!

see my tagline: "tuitionfreeprinceton"

 

 

Disabled list

Moonlight Graham

In August NYU announced that its medical school will be tuition free.

More doctors, and more doctors from lower-income backgrounds. It seems a good thing.

We should lend all Princeton pre-meds 100% of their tuition, fees, and room and board, without regard to means, at a low rate of interest, with all interest and principal payments deferred until five years after graduation, and the paper to be torn up when, as, and if the doc obtains a license to practice in the U.S.

Sal Yvars

Secrets

Secret investments to pay for

Secret compensation for teachers

Whose teaching loads are...you guessed it...secret.

     We cannot be secret and expect to be treated as exempt from tax.

[p.s.--The 1.4% excise tax is a blatant violation of equal protection of the laws. Are we going to sue or wimp?]

Louder, louder than a tiger

Don't look back, they're gaining on us

On November 5 the New York Times wrote of government's desire to tax income earned by the larger college endowments. ["Ballooning College Endowments Tempt Legislators Chasing Tax Dollars"]  The colleges are outspoken in their opposition to taxation--well, let's say their opposition to being the ones taxed.

Princeton's faculty belittles, blames, and despises the rich, fat-ass, anti-tax one percent of Americans whom the university administration now emulates. Enjoyment of the lovely irony in this is dampened by the realization that a faculty too ignorant to see that entrenched government always turns on its own is taken seriously by intelligent young people entrusted to its care.

Anyone could see this coming. You heard me roar, louder, louder than a tiger.

No balls

Princeton leverages its endowment, apparently as part of its investment policy. It has outstanding debt of $3,500,000,000, at an average cost of about 4%, and it has endowment investments of $23,800,000,000, at a 10-year average annual return of 7%. The 3% spread is leveraging, which raises three questions:

(1) Is leveraging an appropriate investment practice for college endowments?

(2) If no, why does Princeton do it?

(3) If yes, why isn't Princeton doing more of it? Instead of 15% leverage (3.5 divided by 23.8), why not 50%, or more? This is not small change--$250,000,000, at 50% leverage.

Second

The Second Open Letter to Princetonians is available on request to devine111@comcast.net