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OK, so they eliminated $2.6 billion in federal grants. Now they're preventing Harvard from enrolling foreign students.
Sounds bad, right? Definitely for the students, but even if you assume $100,000 per year per student, that's "only" $680 million. So their second attack is with reduced leverage. If your goal is to crush Harvard into compliance, you want the attacks to amplify, not weaken each time. So it's already feeling like a deflated balloon.
They want to strip Harvard of its tax exempt status, but that's around 20% in capital gains, which are only realized when they sell assets. So if I'm the president of Harvard, I ride it out; I sell just enough to get by for the next year until it winds its way to the Supreme Court and gets overturned. So they just need to sell $3 billion in assets and pay about $600 million in taxes. After a verdict is rendered, they might even get that amount back in the judgement.
Either way, once again a weaker attack than the previous one (assuming, as the Trump administration must) that any revocation of tax-exempt status will be overturned.
And what's left? Arresting the president and board of overseers? There aren't many things to realistically try after this. Time and momentum seem to be on Harvard's side.
I’m not even worried about the money to me, an idiot, the problem is:
Will Trump try to eliminate foreign or non-citizen enrollment in public schools? I know people think I am over-cautious here but My wife is a green card holder, what sorta prejudice does this open us up too?
That's not over cautious. This will happen soon. I think most Americans (see: white) are relatively safe right now, but immigrants (authorized or not) are clearly targets that they are attacking right now. Get ready to protect your family now.
Really hope you and your wife make it through this okay. We're all gonna need to help each other.
Actually we are cutting our losses and moving back to her home country. We’d stay and tough it out if we didn’t have a kid. But it’s hard decision and struggle with Trump‘s idiotic domestic policy, along with skyrocketing cost-of-living and completely unrealistic prices on health insurance.
It’s just too much all at the same time for us to stay