McMahon on Raising Taxes on Wealthy Universities: ‘They Have Almost a $53B Endowment’

RUSH EXCERPT:
McMAHON: "When you look at the elite universities let’s go back to Harvard when they had a $53 billion down there is a staunch and small endowment tax that is in place 1.4% that’s on the universities 500 students that are on tuition that’s about 500,000 per student as a barometer the it’s about $2 million per pupil way before the taxes are. It is a ton of money if you look. It’s going on even the universities will say we use most of our endowment for student research, don’t you think that’s what they should be using those endowment dollars for."