Tuesday, September 25, 2012
Like most people, I try not to think too hard or often about my life. It's a pretty good one, but reflection is a dangerous enterprise. Sometimes, though, I like to take stock. But I'm having trouble figuring out the answer to the most basic question about how I make my living: who pays my salary?
I'm a professor at William and Mary's law school, where most of our budget -- like almost all law schools today -- comes from student tuition. The students, though, pay very little of that tuition in "real time." It comes from the federal government in the form of loans, and has to eventually be paid back. ... [M]y best answer is that taxpayers in the 2030s and 2040s mostly pay the salaries of me and my fellow law professors.