Taxing College Endowments and U.S. Competitiveness

SOURCE www.breitbart.com
Rep. Jake Auchincloss argues against increasing taxes on college endowments, stating it would harm U.S. competitiveness against China in research and development.

Key Points

  • Increased taxes on college endowments could harm U.S. competitiveness in research and development.
  • China's investments in biotech, quantum, AI, and cyber pose a competitive threat.
  • Reducing funding for research and attacking high-skilled immigrant talent could undermine U.S. science and technology edge.

Pros

  • Protecting research and development powerhouses in the U.S.
  • Maintaining competitiveness against China in key technological areas.

Cons

  • Potential reduction in standards of living.
  • Risk of letting China take the lead in global economic dominance.