Reply to How Princeton is Getting Around the Endowment Tax

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Seems like a win for everyone!
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Seems like it makes the endowment tax arbitrary stupid nonsense.  Don't tax Princeton but tax MIT.  Don't text Amherst or NYU but tax Notre Dame.  This whole thing just seems pointless.[/quote]

It is a Pigovian tax. It wasn’t intended to raise revenue. This is an optimal outcome, perhaps even an intended one. [/quote]

It’s kind of crappy to be a family who makes just a tad over the line (or who have more than typical assets) who will pay full price while others just a tiny bit under the line pay none. I get the rationale but it’s not optimal from that perspective. [/quote]

Totally agree - this system is very binary - all or nothing. There will be a lot of gamesmanship among families to get below the line - ironically people will have an incentive to take a pay cut for a few years. It makes very little sense yet given the constraints Princeton is dealing with, I don't blame them. But as one who is not far over the line and also had the audacity to live somewhat conservatively and save money for college, it is frustrating. But life isn't fair - I'm fortunate to have more than most other Americans and college is not a God-given right.[/quote]

Plus don't pretend that your approach to money and saving isn't helping you out in other ways. You might not be getting a college break, but there are so many other benefits you get by living this way.[/quote]

NP. Like what? We have a single car, don’t do vacations at all beyond drive to the beach and stay in a motel type of thing or camping, shop at Walmart for clothes, literally never eat out, we do spend more money than most people on food because our kids have severe food allergies and we need to. We have other therapies for special needs but basically just a typical middle class lifestyle plus some extra frugality compared to most people, and yet we just miss out on all financial aid. No family money at all (we were first gen), actually we support our parents a little if anything. Our kids are very high stats and so could definitely get some merit at some places but it’s frustrating that ivys are out for them because we really can’t afford it. If we lived irresponsibly and didn’t work so hard, they would get financial aid. The system sucks.[/quote]

So apparently you have figured out how to have some of the things you want plus get financial aid but you refuse to do it?  Maybe the system doesn't suck. Maybe you just aren't understanding how to benefit from the system?

And if you don't want to  shop at Walmart like most people so that your kid can get a Princeton education, then dont.  No one is forcing you to do that.  The system sucks because you you have to shop at lower price stores like most people instead of expensive stores?   [/quote]

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