One of the most surprising parts of the proposed tax bill is its tax on university endowments. If my rough calculations are correct, the tax would cost schools like Harvard between $1,000 and $2,000 per student every year.
Is there a good argument for this policy? Not that I can see.
I am the Robert M. Beren Professor of Economics at Harvard University, where I teach introductory economics (ec 10). I use this blog to keep in touch with my current and former students. Teachers and students at other schools, as well as others interested in economic issues, are welcome to use this resource.