DeVos Plan for More Pay-The-Rich Charter Schools
On October 10, 2019, U.S. Secretary of Education, billionaire Betsy DeVos, unveiled an antisocial plan to further incentivize the rich to establish more charter schools to line their pockets at the expense of young people. DeVos has actively promoted school privatization schemes for decades; she does not support public education.
In addition to many well-established ways that the rich already use charter schools to enrich themselves, millionaires and billionaires will now also be able to use privately-operated charter schools to receive large tax cuts. And over time these tax cuts get bigger.
Under the latest DeVos school privatization scheme, “investors” will be able to maximize their profits by using the “Qualified Opportunity Fund” (part of the 2017 Tax Cuts and Jobs Act) to “invest” in charter schools in “economically distressed areas” known as “opportunity zones.” Specifically, this new “financing opportunity” can be used by the rich to avoid taxes on charter school facilities and real estate acquired through the “opportunity fund” and sold later. The government has already hired a private business, Leed CONTINUE READING: DeVos Plan for More Pay-The-Rich Charter Schools | Dissident Voice
