Conservatives complain too much about welfare—except where it counts

Welfare comes to many, not just the poor. Princeton University is highly invested in the success of capitalism with an endowment of $17 billion, or about $2 million per student. Even so, it received approximately $54,000 per student in 2011 from the federal government--you and me. Richard Vedder, Bloomberg.com, Mar. 18, 2012.

‎"In 2002, Meg Whitman, now the chief executive officer of Hewlett-Packard Co. and a former CEO of EBay Inc., made a $30 million gift for what is essentially a luxury dorm (Whitman College) at Princeton that probably netted her a tax break of $10 million or so. Less opulent residences at the College of New Jersey lack such rich private funding. One could argue that this is the equivalent of building public housing for the rich. "

http://www.bloomberg.com/news/2012-03-18/princeton-reaps-tax-breaks-as-state-colleges-beg.html

“It's unlikely that more money has ever been lavished on the education of so few. Even as Ivy Plus budgets have spiraled upward, the schools' enrollments have barely budged. From the 1997-98 academic year through 2006-07, graduate enrollment at the 10 institutions inched up by 10%, to 55,708, while the number of undergraduates actually fell by 1.4%, to 68,492.

Meanwhile [2007], the wealth gap between the Ivies and everyone else has never been wider. The $5.7 billion in investment gains generated by Harvard's endowment for the year that ended June 30 exceeded the total endowment assets of all but six U.S. universities, five of which were Ivy Plus: Yale, Stanford, Princeton, MIT, and Columbia. Ivy dominance extends to fund-raising. A mere 10 schools accounted for half the growth in donations to all U.S. colleges and universities last year. All of the top five on the list were Ivies, led by Stanford, which set a record for higher education in 2006, collecting $911 million in gifts.”

http://www.businessweek.com/magazine/content/07_50/b4062038784589.htm