In a world full of bad ideas, a legislative proposal manages to stand out. Sen. Tom Cotton (R-AR) is introducing the “Woke Endowment Security Tax Act,” a measure that would impose a six percent excise tax on endowments of ten private colleges and universities, specifically the institutions that receive a certain dollar amount worth of endowments.
The move is a response to the proliferation of far-leftist “woke” ideology and rising antisemitism on college campuses. According to a statement released by the senator, “This tax will take money from wealthy colleges pushing woke ideologies and redirect it to more pressing national concerns.”
The tax applies to (1) secular institutions with endowments of at least $12.2 billion and (2) secular institutions with endowments of at least $9 billion that also operate a state contract college.
And what would those “pressing”…
