Economy Blog » Taxing the Harvard Endowment

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John Hechinger reports that lawmakers in Massachussetts are considering a 2.5% tax on the portion of college endowments that exceed $1 billion. Such a tax would raise $1.4 billion a year, with 60% of it coming from Harvard.
Greg Mankiw grumbles that Harvard could or should simply move somewhere else if that happened; you can file that idea under "extremely improbable". Right-wingers always say that if you tax people or institutions with money they won’t pay more tax, they’ll just move; they’re rarely proved right.
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