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Private & Independent Schools
Reply to "should private and independent school provide accountability and transparency admission "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]What subsidies is anyone referring to? The tax deductibility of donations used to provide financial aid?[/quote] No income taxes and no taxes on the endowments. The taxes the you and I normally pay. Check propublica to understand how corrupt the system is. [/quote] Well, income tax is typically paid on….wait for it….income. The schools don’t have income. If person individually has no income, they pay no tax. If a business as no profit, they don’t pay tax. Interest generated from the endowment goes back into the endowment. You can’t really be this obtuse. [/quote]
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