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After the woke take down Witherspoon, if they succeed, who might be next? Maybe President (of the United States) James Madison, Founding genius and drafter of the First Amendment? A Princeton graduate (1771), Madison stayed on an extra year to study under Witherspoon and lends his name to the university’s James Madison Award for Distinguished Public Service. He had far more than two slaves. Would Princeton spare the two iconic paintings of George Washington — with his hand on a cannon and with the College of New Jersey, as Princeton was then known, in the background during the Battle of Princeton, and at ease after winning it — by Charles Willson Peale, who himself experienced the battle firsthand?
Princetonians for Free Speech
Since the beginning of the year, Princetonians for Free Speech has been warning that Princeton and other universities were likely to be hit with a big increase in the current 1.4 % tax on endowment income. Now it is happening.
In the early hours of yesterday morning, the House Ways & Means Committee voted to report out its part of the Reconciliation bill – a.k.a. the “One Big Beautiful Bill.” This massive bill contains numerous tax provisions, including a large increase in the tax rate, now 1.4%, on endowment income. The bill creates a tiered tax rate based on an institution’s “student-adjusted” endowment. There are four rates: 1.4%, 7%, 14%, and 21%. The 21% rate applies to schools with an endowment of at least $2 million per student. It is the same as the corporate tax rate. Princeton qualifies for the 21%. According to one article, others qualifying for the highest rate are Harvard, Yale, Stanford, and MIT. Here is a list of the largest endowments. Princeton is listed at $34 billion. Note that Texas, which has a large endowment, is not covered by the endowment tax because it is a public university.
Christopher Bao and Annie Rupertus
Daily Princetonian
Excerpt: Princeton asked all departments and University units to prepare “separate plans for 5 percent and 10 percent permanent budget cuts to be phased in over the next three years, with some actions to start later this summer” in an email sent to faculty and staff on Monday afternoon — the University’s most dramatic budgetary guidance yet following a tumultuous semester for higher education.
The email, sent by Provost Jennifer Rexford and Executive Vice President Katie Callow-Wright, explicitly acknowledged the potential for layoffs to be part of budget reductions. “Cuts of this magnitude to our budget cannot be achieved without changes to some operations and the associated elimination of some staff positions,” they wrote.
David Montgomery ‘83
Princeton Alumni Weekly
Excerpt: For the first time in memory, Princeton is inviting alumni, faculty, students, and allies to lend their voices to a broad campaign of political advocacy and public affirmation in response to the Trump administration’s unprecedented attacks on research funding and academic freedom in American higher education. “To my knowledge, this is a new kind of initiative for the University,” President Christopher Eisgruber ’83 told PAW in an early May interview about the campaign, which is called “Stand Up for Princeton and Higher Education.”
James R. Wells, '46
April 05, 2024
Such nonsense!!! Don’t the spoiled children attending Princeton these days, know they have a rare privilege to grow up in a classical surrounding? They are there to learn – not dispense their childish beliefs.
They might well adapt the concept of maintaining an open mind, and inquiring as to what they might discover as they struggle to mature, rather than egotistically supposing they are already blessed with sufficient knowledge to make judgements regarding how Princeton should be governed and what portions of the past are worthy (in their self-deluded mind) to be retained. Take time to grow up, little ones; you’re there to acquire wisdom – not dispense it.
JRW