(PJ Media) Yale University has fancy dining halls. They pay no property tax.
Local restaurants struggle to compete, but their tax burden makes that hard.
“We basically pay one-third of our rent in taxes!” complains Matt West, manager of Koon Thai Restaurant. “Yale is a money-making machine.”
It is. Many colleges are.
Yale has a $31 billion endowment. Harvard’s is $40 billion. My alma mater, Princeton, has $26 billion.
Yet, these schools also get government handouts and tax breaks. (Read More)