Schools: Too Big To Fail
Deborah Meier,
Bridging Differences,
Apr 17, 2010
Why Are 25 Hedge Fund Managers Worth 658,000 teachers? It's an excellent question that bears examining. Deborah Meier expands on Les Leopold's question. "The wealthy will have placed an estimated $2 trillion into hedge funds by the end of this year, while schools experience cutbacks everywhere. 'That's about $6,500 for every man, woman and child in the U.S.' To add insult to injury, they pay only a 15 percent tax rate on their 'earnings' while an experienced teacher will be paying 28 percent-plus." What we have is a system skewed out of control, with big money serving only itself. It might already be too late to reverse the course. "We've got to stop this, Diane," writes Meier. "We have to find ways, without much in the way of 'Big Money,' to get a different story told and then acted upon. We need to 'remap' the future."
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