Should University Donations Trigger Tax Breaks for the Wealthy?

Radcliffe,Quadrangle,(the,Quad),At,Harvard,University

Universities big and small receive donations from many different sources, including wealthy alumni. However, not all donations are created equal and because the wealthy donors get a huge tax break for their significant donations, some wonder if that is really fair.

For example, Nike co-founder, Phil Knight, recently donated $400 million to Stanford, where he attended business school. That donation will give Knight a $158 million tax break. Some find that in of itself unfair, but others question why some schools, which already have deep pockets anyway, get such large sums of money without being taxed for it? Plus, the majority of the donations are given to these top schools, while other less prestigious universities are often left scrambling for much-needed resources.

However, on the flip side, many donors would argue that they make these donations for true philanthropic purposes and not for the added benefit of a large tax break. Some counter-argue that all the donation money could be used for better purposes. However, there’s no question that the nation’s top universities help the country in many industries, as well as give the economy a boost in many forms as well, including training thousands of the brightest minds.

Of course, it’s an argument that has no easy answer, but probably one that won’t get much traction, because wealthy alumni have always been able to donate their money to the universities or causes they choose. That is not likely to change any time soon.

Posted in

What Makes a Great Boss Unforgettable?

What Makes a Great Boss Unforgettable? Have you ever had one of “those” bosses? You know the type. The kind of person that walks around like a prison guard, always peering over your shoulder through his or her mirrored glasses, ready to pounce on you like a lion at the first sign of trouble. Of…

Habits to Ditch So You Can Retire by Your 40th Birthday

Habits to Ditch So You Can Retire by Your 40th Birthday

Habits to Ditch So You Can Retire by Your 40th Birthday Are your retirement plans set? Are you going to call it quits when you turn 65 and spend your goldenyears traveling the world, lavishing your grandkids with gifts and good times, and spending your down time relaxing in the sun by a crystal-clearpool? It…

What Things Do Successful People Do to Start Their Day?

What Things Do Successful People Do to Start Their Day? The old adage goes: the early bird gets the worm. Does that mean the birds that have been out late and decided to sleep in miss out? Surely there are enough worms to go around for all the birds, right? The fact is, worms would…

The Best Jobs for Work-Life Balance

The Best Jobs for Work-Life Balance Why do you work? Is it to achieve a sense of accomplishment? Perhaps you simply work for a paycheck. Of course, most people work out of necessity to provide for themselves and for their families. Just about anyone who works to provide for his or her family will face…