The cost of higher education has reached the point where the House Ways and Means Committee had hearings in September of 2016 about the uses of college endowments. During the hearing Rep. Peter Roskam (R-Ill.), chairman of the Ways and Means Oversight committee, asked whether the tax code should be used to encourage people to donate money specifically for scholarships at universities.
Representative Roskam might be surprised to learn that his suggestion would most likely raise tuition costs rather than lower them.
In the U.S., the prices of goods and services are typically based on what people are willing to pay. read more >>>