No, don't be silly. I didn't say or imply that. Both are covered under section 501(c)(3) of the tax code.
The what?
I really don't care what some small, private, college in Boston does. It does not alter the fact that it is a 501(c)(3) organization and is tax free.
all kinds of 501(c)(3) entitites have large investments. Ever notice the names of those big foundations at the start of a PBS show? All 501(c)(3) non-profits not paying taxes on their investment income. They do have to spend a percentage of their wealth each year on the exempt purpose for which they exist. (I think it is 5%, but it may have changed.)
My point was that all tax-exempt non-profits (from churches to schools to standard charities) do not pay taxes on their wealth or income, but I am encouraged that you are open to ending the special status of some categories of such organizations to not file public statements of income and assets.
guy says he isn't comparing churches to universities, but then finishes his statement with
"My point was that all tax-exempt non-profits (from churches to schools to standard charities) do not pay taxes on their wealth or income"
which is comparing churches to universities
A university serves the interests of its students, faculty, administration, and alumni
A church (good ones anyway), serve the interests of humanity through charitable works, spreading the Gospel, etc.
Harvard will charge me 80k to attend
The church down the street will let me in free-of-charge
these things are not the same, even though they get similar tax treatment. My statement to you was not about tax law, it was about whether or not you think it is right that a college president gets a multi-million dollar salary from a school with a 55 billion dollar endowment that isn't taxed.
because Trump was the one who was being lambasted here for "tax cuts for the rich", etc. --when it was he who taxed these university hedge funds through the Tax Cuts and Jobs Act (TCJA) in 2017.
it reminds me of discussions I had with some liberal professors about taxes. They were whining about how rich people don't pay enough, so I said "agreed. The first thing we should do is get rid of the mortgage interest tax deduction", and they responded with "oh wait, slow down now"!
another example of wealthy liberals who want other people to pay taxes, but not themselves.
the TCJA also limited the mortgage interest tax deduction, and rich liberals screamed about not being able to write off the mortgage interest on their 4 million dollar jumbo loans.
The cost of not taxing university endowments and the mortgage interest tax deduction is like 150 billion per year in lost tax revenue.
but you are going to pretend that missing out on taxing a handful of pastors who make big salaries from mega-churches is somehow even remotely equivalent to that?
it isn't, and you are deflecting to cover up your hypocrisy