But what if the parents say you’re on your own? Many kids pay their own college tuition regardless of parents wealth.
And are you suggesting the federal government implement price controls on the tuition of private schools? That seems rather COMMUNIST to me…
good working free markets all have a little socialism mixed in
I don’t have 10% of my net worth in liquid assets. I would be very hard-pressed to come up with that. I’d have to sell my house or withdraw with penalties from my retirement fund.
ummm, sorry, but cry me a river
College is useless anyway. Prager U is free.
so your kids are not going to college?
Speaking of communism, what’s up with the NFL amirite
That’s a cartel, not communism.
Price controls, profit sharing, extreme barriers to entry. All you need is some beef and you’ve got a proper communist stew going
i do wonder what adverse economic outcomes this might create. can’t think of any. how would rich peeps react? send their kids to oxford?
They just send their kids to private school. I’m not sure if the government would have the power to control what private institutions can charge.
I think a better idea would be to move to a model where one pays for their college/university education by paying x% of their income per year of schooling back to the schools.
or maybe just an excise tax:
10% NW - tuition
if it’s negative, then it’s a tax credit
Rich peeps wouldn’t pay 10%, there would be ways around anything you tried to enact. The schools would rely on more government support, and get worse over time.
Estate tax is the simpler fix if you’re trying to limit intergenerational wealth transfer.
With this mentality…why would you tax the rich at all? I guarantee you there are ways to make sure the rich pay. The problem isn’t that the rich wouldn’t pay, the problem is the people making the rules are the rich…
Some % of future earnings for the student would be much more interesting IMO.
The problem is a lack of global governance.
This proposal could not be realistically enacted.
In practice, if you enacted this legislation, the wealthy would simply stop sending their kids to university.