Obama's ideas for educational tax reform are controversial, but they’d do a better job helping households who most need education assistance than the current complex array of programs.
Private university endowments are now around $550 billion, centered in a handful of prestigious institutions. Public universities, by contrast, have little or no endowment income. They get almost all their funding from state governments, and those subsidies have been shrinking.
Many of the activities we accept as 'charity,' like supporting lavish artistic endeavors and fancy schools, aren’t really charity as most people understand the term.