Who Is Profiting From Charters? The Big Bucks Behind Charter School...

The promise of charter schools as a magic solution to alleged “failing schools” was a lie. The movement is really a way to generate massive profit. They are unregulated, compared to public schools, and riddled with scandal.

... they ... provide wealthy investors with a 39 percent tax credit that more than doubles returns on these investments within just seven years. As NY Daily News reporter Juan Gonzalez reported for Democracy Now!, “this is a tax credit on money that they’re lending, so they’re collecting interest on the loans, as well as getting the 39 percent tax credit.” And that’s not all. As Gonzalez explained, the federal government “piggyback[s] the tax credit on other kinds of federal tax credits, like historic preservation or job creation or Brownfield’s credits. The result is, you can put in $10 million and in seven years double your money.” So, if you put in a couple million dollars, you’ll have double that amount within just seven years.

Among the worst offenders is K-12, a Christian organization.

K12 notoriously treats creationism as legitimate science and the Bible as a useful history book.


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Tags: charter schools

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k-12 is a tremendous fraud.  They have not been successful by any measure I've studied, but they have the backing of the political machines.  It is a sad day for education across the USA.

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