1. The KillerFrogs

OT: TCU in Paradise Papers news. . . l.

Discussion in 'Killingsworth Court, Formerly The General Forum' started by Frogo, Nov 8, 2017.

  1. Smart if you ask me.
     
    Despite the odds Frog likes this.
  2. It’s not illegal!
     
  3. Hillary accused Trump of avoiding taxes during the campaign, to which he responded (something like), "Then change the law." I personally cannot stand Trump, but he had a point on this one. This is not illegal activity. If it is morally reprehensible, then change the law.
     
  4. I'm less than certain that it's "smart." Legal no doubt. Right and proper? Not so sure. Not something I want to go around bragging about.
     
  5. Silly goyim. Taxes are for poor people!
     
  6. So there are folks who think it is “immoral”to limit tax exposure to the fullest legal extent? Gotcha.
     
    Double V, tcumaniac and Peacefrog like this.
  7. #8 Frogcrates, Nov 8, 2017
    Last edited: Nov 8, 2017
    Not a good look, but not an atrocity either IMO.

    I’m not one who feels satisfied with saying that laws are simply there to show you how far you’re allowed to push things without getting in trouble (there has to be ethical standards and accepted principles of propriety within those boundaries).

    Legality does not make right and there are legitimate questions that this should raise (are there any transparency concerns, is this a deliberate attempt at gains purely through tax avoidance and, if so, is that ethical or appropriate, etc. and is that the best way to be growing the endowment, practically and ethically, etc.).

    Having said that, to me, this simply highlights a broken policy that should be corrected more than it highlights some sinister activity by TCU and other universities (and by that, I don’t mean to say that ‘hey, there was a loophole and all they did was take advantage of it as they should given their fiduciary responsibilities, etc.’). Instead, I think the question ought to be whether capital gains by a university endowment should be taxable anyhow and under what conditions (so long as the intent is consistent with the mission of a university). If there’s a policy change to be made here, then make it. If it’s university CIOs/Boards acting improperly, then expose the practice and enforce the letter and spirit of the law.

    Side Note #1:

    TCU really ought to establish an endowed center for Private Equity studies and research given its strengths and relationships in that industry (would be good for Fort Worth too).

    Side Note #2:

    And the aggies think they can buy Patterson away from us?!

    TL;DR: meh... and don’t act unethically.
     
  8. All press is good press (except for the Baylor type of news)....

    I mean look at these quotes “Most of the schools are the most elite(s) in the country.”
    "The wealth is concentrated in a small group of schools, tilting toward private institutions like those in the Ivy League and other highly selective colleges."

    “They’re not cheating. They’re not hiding money or disguising money,” said Samuel Brunson, a law professor at Loyola University Chicago who has studied endowment taxation. “But they’re adding money to a system that allows people, if they want to hide their money, to do it.”

    "...officials at most of the college and university endowments that use blocker corporations, including Colgate, Dartmouth, Duke and Stanford..."

    They're lumping us in with some pretty prestigious schools. And saying what we did was not cheating.

    Is it the greatest news? No. Is it great news? No. But it surely isn't bad news.
     
  9. It would be very interesting to know majors, careers, tax brackets, etc for those that post on this thread simply due to the differing viewpoints. I imagine we would see commonalities within each group.

    I'm not asking for that info, for the record.
     
  10. I understand the "bad" look this could have. TCUs mission is to "educate individuals to think and act as ethical leaders and responsible citizens in the global community". I understand the legality of what is happening here, but is this "ethical".

    I do not really mind what is happening too terribly much, but I can definitely see why people would hold the opposite view.
     
  11. In the world of taxes... Legal = Right and Proper.
     
    WhiteHispanicFrog and Peacefrog like this.
  12. Damn right. Using existing laws and refs to limit tax liability is wise. There is no ethical or moral element here in my opinion.

    It is legal for a fifty year old man to have consensual sex with a seventeen year old girl. In my mind there are ethical and moral arguments against it but it is legal. I see no ethical or moral component to making sure I pay the least tax or get the best return on money
     
  13. Edit: Best return on money (as in investments) might be a bit too far
     
  14. Meanwhile Baylor is in massive debt. LOL
     
    Punter1 likes this.
  15. You shut your dirty hippie mouth! ;)
     
    Double V and Peacefrog like this.
  16. Respectfully disagree.
     
  17. So, I am assuming you never speed, never fail to come to a complete stop or never speed up on yellow...
     
  18. That's cool....but in my mind there is nothing more black and white then paying taxes. If its legal do ut...if not don't. As long as my accountant says we're not breaking the rules...Im not gonna feel bad about keeping a little more of MY money.

    And kudos to TCU for finding ways to keep more of our money....
     
  19. Or do cocaine, smoke pot, or do excstacy either?
     

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