Saturday, February 11, 2017

Ponzi Schemes’ Newest Victim


Public school teachers are now at risk of losing their jobs and low-income children will be locked out for good in the hope of attaining “The (only for the rich) American Dream”. So what else is new? The R's have never believed the poor deserve a break, if they could someway figure out how to deport them out of America... they would. Oh but then again, that would cut deeply into their bottom line because where would they get their (almost) slave labor.  CW thinkingblue

Excerpt: Given what we know about her—DeVos’s ties to the multibillion dollar Amway Corporation, for which she is heiress—people are well within reason to question and, even worse, fear how she might run the U.S. Department of Education. In this light, it is important to note that DeVos’s husband, Richard DeVos, Jr., inherited his billions from Amway, a company known for exploitative business practices, i.e., multilevel marketing—also known as pyramid schemes—to funnel precious resources from the thin pockets of the masses to the greedy bank accounts of the gluttonous few.
While her record on education appears to be lacking, what DeVos brings to the job of Secretary of Education is an unmatched charisma for fiscal alchemy—the ability to turn other public money into private profit. Thus, it should come as no surprise that the only real educational policy DeVos seems to have durable knowledge of is the Title I provision (the most lucrative provision) under the Elementary and Secondary Education Act—better known as No Child Left Behind.
Under No Child Left Behind, in access of $14.5 billion of federal monies were set aside to address education funding inequities by financially bolstering school districts with large proportions of poor children. The stated purpose of the funding was to give poor children greater access to the same types of learning opportunities as wealthier children who reside in affluent districts with schools that benefit from higher property taxes, among other supports.
Further, we know that, as a result of choice policies such as the voucher programs that DeVos champions, 20 percent of all Title I monies earmarked for poor students—roughly $2.6 billion—end up in school districts with a higher proportion of wealthy families. This often overlooked detail could shed light on some of DeVos’s intentions as Secretary of Education, while giving us incredible insight into a department of education that, under a DeVos regime, could resemble a Ponzi scheme.

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