Harvard Economist Ken Rogoff on debt, inflation and the dollar. A Charlie Rose Global Conversation

Harvard Economist Ken Rogoff on debt, inflation and the dollar. A Charlie Rose Global Conversation

https://www.youtube.com/watch?v=ODKjBI6Lt14

Trump threatens to remove Harvard’s tax-exempt status

“Basically all major colleges and universities are tax-exempt organizations, and the government revoking that status over policy disagreements would be unprecedented. The U.S. tax code also grants exemptions to a wide swath of organizations, including charities, religious institutions — and even some political organizations.

But Republicans have taken aim at the Ivy League through the tax code in the past.

Congress imposed a 1.4 percent tax on high-dollar university endowments, like Harvard’s, in 2017 and Republicans may expand the levy in the tax package they are currently assembling.

Trump’s threats follow his administration pulling over $2.2 billion of Harvard’s federal funding in response to the university announcing it would not comply with a list of demands to curb what the White House views as antisemitism on campus.

Educational institutions can lose their tax-exempt status if found to be participating in activities related to political campaigning for or against candidates, or substantial amounts of lobbying by the Internal Revenue Service. There is no public evidence of Harvard violating IRS rules.”

https://www.politico.com/news/2025/04/15/harvard-trump-tax-exempt-00290534

If Harvard Cared About Equality, It Would Abolish Legacy Admissions, Not ACT and SAT Requirements

“Harvard University has decided to extend its pandemic policy of making SAT and ACT scores optional for applicants until at least 2026, which means standardized test scores won’t play much of a role in admissions decisions for years to come, if ever again at all.

Harvard cited the pandemic as the reason for the extension, but the broader push to abolish the ACT and SAT in college admissions is grounded in a misguided idea that the tests are unfair to underprivileged teenagers. The University of California system, for instance, has moved to stop requiring the exams due to concerns that they disfavored black and Hispanic applicants.”

“As Freddie de Boer, author of The Cult of Smart, has argued very persuasively, some combination of grade point average and SAT/ACT scores is highly predictive of success in college. And it’s simply not true that prioritizing test scores punishes racial minorities more than alternative admissions standards. On the contrary, the more that schools rely on non-academic criteria such as extracurricular activities and legacy status, the more they reward applicants who are wealthy and well-connected. A gifted but impoverished Latino teen who is the first in his family to finish high school has a better shot in a system that cares about his SAT score than in a system that cares if his parents paid for clarinet lessons and secured him a spot on the water polo team.”

“If institutions like Harvard really cared about being fair to the unprivileged, they’d take a machete to legacy admissions: a special boost to applicants who are the scions of previous graduates.”

“The most prestigious educational institution in the country should take the brightest students, and standardized tests are a better metric for that than the alternatives on offer.”