Trump spending bill to quadruple the tax on university endowments

Tough university endowments are being hit with an 8% tax, but it could have been worse. Robert Frank joins us now with a breakdown of who gets hit and who escapes. Robert, good to see you.In fact, it could have been much worse. The tax on many universities endowments will more than quadruple in the new tax plan universities currently pay a tax on their endowment of 1.4%. Now, the big bill creates three new tax rates based on the student adjusted endowment.So, that's the total endowment divided by the number ...