Staff Reports
New Data Shows Universities Rake in Over $45 Billion in Taxpayer Funding, Sparking Outrage Over Pro-Palestinian Sentiments
Liberals are at it again, using our hard-earned taxpayer dollars to fund their out-of-touch, anti-American agendas. According to new data from OpenTheBooks.com, prestigious universities like Stanford, Northwestern, and Ivy League schools have soaked up a whopping $45 billion in taxpayer-funded grants, contracts, and tax breaks over the past five years. As if that didn’t ruffle enough feathers, the schools are now under fire for their handling of pro-Palestinian sentiments on campus in the wake of the recent violent attack on Israel by the terrorist group Hamas.
Harvard, top private universities pocket $7 billion a year in taxpayer cash https://t.co/Rv1zNRHJlH
— The Washington Times (@WashTimes) November 15, 2023
Adam Andrzejewski, the founder of OpenTheBooks, expressed his shock at the sheer amount of support these wealthy institutions are receiving from American taxpayers. He pointed out that with the billions pouring in each year, it’s time to reconsider whether these schools still qualify as public charities. According to the report, Stanford University leads the pack, raking in a whopping $7 billion in grants and contracts, while Columbia University follows closely with $5.9 billion. And let’s not forget Harvard University, pocketing a cool $3.3 billion over the 2018-2022 period.
But that’s not all. OpenTheBooks argues that these universities seem to be more like federal contractors than educators due to the astronomical amount of government funding they receive. Both the Trump and Biden administrations have been guilty of pouring taxpayer cash into these elitist institutions, with annual grants and contracts ranging between $6 billion and $7 billion over the last five years. It’s a clear case of the political elite looking after their own interests while disregarding the everyday American taxpayer.
The universities have attempted to justify their massive government handouts by claiming the funds go towards cutting-edge medical science and crucial research. However, OpenTheBooks has called out this excuse, highlighting that the universities are perfectly capable of raising funds on their own, without Uncle Sam’s help. In fact, the endowments for these top 10 schools have grown from $172.2 billion in 2018 to a staggering $237 billion last year, with a projected total set to reach an eye-watering $1 trillion over the next 25 years.
But here’s where it really stings. If these schools were regular Americans, they’d be slapped with a 20% capital gains tax on their investment growth. Instead, thanks to their nonprofit status, they get away with paying a measly 1.4% “excessive endowment tax,” leaving them with a sweet $13 billion tax break. It’s the kind of unfair advantage that squeezes the everyday taxpayer while the privileged few swim in money.
And if you thought it couldn’t get any worse, some of these schools even shamelessly grabbed COVID-era bailout money from the Higher Education Emergency Relief Fund. Sure, they’re happy to fill their pockets with our tax dollars in times of need, but when it comes to showing support for our allies like Israel, suddenly they’re silent.
The Israel-Hamas conflict has now become a focal point in the debate over federal funding for these universities. Republicans are raising their voices, calling for the federal government to cut ties with these institutions that seem more invested in pushing an anti-Israel agenda than educating our nation’s youth. Even major donors to these schools are pulling back their support, with billionaire Cliff Asness suggesting that withholding funds may be the only way to make these universities listen.
But despite the mounting pressure, the universities’ defenders cry foul, arguing that cutting off funds would jeopardize academic freedom. It’s a laughable defense coming from the same schools that have routinely stifled conservative viewpoints, demonstrating a clear double standard in their approach to free speech.
One prime example of their skewed priorities is Stanford University’s decision to label the word “America” as “harmful language” just last year. It’s just another instance of these institutions caving to radical left-wing ideologies while turning a blind eye to any dissenting voices.
At the end of the day, it’s crystal clear that these universities have taken advantage of their tax-exempt status and relied on hefty government funding to push their own biased narratives. It’s high time they’re held accountable for their actions, and the American taxpayer demands nothing less than complete transparency and fairness from these institutions that have strayed so far from their supposed mission of providing higher education.
