Comment by palmotea

>> College endowments are typically tax-exempt, but a 2017 law imposed a 1.4% tax on investment income for a small group of wealthy private universities.

> LoL - why it makes any sense to do this for universities and not billionaires is beyond me, but I'm sure half the country can explain it to me like I'm 5.

Because they already do it for billionaires: unlike university endowments, billionaire investment income is not tax-exempt by default, it's already subject to income tax [1].

[1] At least theoretically, ignoring the loopholes and tax-dodges billionaires can take advantage of with literal armies of accountants.