When Dorms Mimic Mansions

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

At Princeton, they like to do things in style. One of the newer dorms on the university’s New Jersey campus has triple-glazed windows framed in mahogany.

Princeton — and the rest of America’s elite private universities — can easily afford such exquisite touches. These institutions of higher education are sitting on mountainous caches of cash, as the just-released new annual numbers on collegiate charitable contributions make abundantly clear.

Three elite schools — Harvard, Stanford, and Columbia — each received over $1 billion in new donations last year. The 20 universities with the year’s highest charitable hauls took in 28 percent of the contributions America’s colleges and universities pocketed in 2018. These 20 schools enroll just 1.6 percent of the nation’s college students.

Princeton, according to the latest public figures, holds an endowment worth $23.4 billion, the equivalent of over $2.8 million per student.

Should any of this concern you? Should those mahogany windows particularly bother you in any way? Probably should. You, after all, are helping pay for that mahogany.

Billionaires like former eBay CEO Meg Whitman, the patron of Princeton’s triple-glazed-window dorm, get to deduct off their taxable income the millions they contribute to their elite alma maters. Before last year, Americans with deep pockets could use charitable donations to write off up to 50 percent of their annual income. Today, thanks to the Trump tax cut enacted in 2017, our wealthiest can use those donations to write off up to 60 percent of that income.

In other words, average taxpayers are subsidizing billionaire contributions to “Grand Old Ivy.” For every $1 million billionaires make in contributions, they currently save in federal income taxes — and the federal treasury loses in revenue — $370,000. State governments lose dollars, too.

Sam Pizzigati edits Too Much, the online weekly on excess and inequality. He is an associate fellow at the Institute for Policy Studies in Washington, D.C. Last year, he played an active role on the team that generated The Nation magazine special issue on extreme inequality. That issue recently won the 2009 Hillman Prize for magazine journalism. Pizzigati’s latest book, Greed and Good: Understanding and Overcoming the Inequality that Limits Our Lives (Apex Press, 2004), won an “outstanding title” of the year ranking from the American Library Association’s Choice book review journal.

Posted In: Allied Approaches

Union Matters

Get to Know AFL-CIO's Affiliates: National Association of Letter Carriers

From the AFL-CIO

Next up in our series that takes a deeper look at each of our affiliates is the National Association of Letter Carriers.

Name of Union: National Association of Letter Carriers (NALC)

Mission: To unite fraternally all city letter carriers employed by the U.S. Postal Service for their mutual benefit; to obtain and secure rights as employees of the USPS and to strive at all times to promote the safety and the welfare of every member; to strive for the constant improvement of the Postal Service; and for other purposes. NALC is a single-craft union and is the sole collective-bargaining agent for city letter carriers.

Current Leadership of Union: Fredric V. Rolando serves as president of NALC, after being sworn in as the union's 18th president in 2009. Rolando began his career as a letter carrier in 1978 in South Miami before moving to Sarasota in 1984. He was elected president of Branch 2148 in 1988 and served in that role until 1999. In the ensuing years, he worked in various roles for NALC before winning his election as a national officer in 2002, when he was elected director of city delivery. In 2006, he won election as executive vice president. Rolando was re-elected as NALC president in 2010, 2014 and 2018.

Brian Renfroe serves as executive vice president, Lew Drass as vice president, Nicole Rhine as secretary-treasurer, Paul Barner as assistant secretary-treasurer, Christopher Jackson as director of city delivery, Manuel L. Peralta Jr. as director of safety and health, Dan Toth as director of retired members, Stephanie Stewart as director of the Health Benefit Plan and James W. “Jim” Yates as director of life insurance.

Number of Members: 291,000 active and retired letter carriers.

Members Work As: City letter carriers.

Industries Represented: The United States Postal Service.

History: In 1794, the first letter carriers were appointed by Congress as the implementation of the new U.S. Constitution was being put into effect. By the time of the Civil War, free delivery of city mail was established and letter carriers successfully concluded a campaign for the eight-hour workday in 1888. The next year, letter carriers came together in Milwaukee and the National Association of Letter Carriers was formed.

More ...

There is Dignity in All Work

There is Dignity in All Work