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May 10, 2010
Charter Schools - One More Hedge Fund Tax Scam
-- by Dave Johnson
Go read
Evil Ed, inc: the Wall Street-charter school connection at Open Left. Here is how it works:
What happens is the investors who put up the money to build charter schools get to basically or virtually double their money in seven years through a thirty-nine percent tax credit from the federal government. In addition, this is a tax credit on money that they're lending, so they're also collecting interest on the loans as well as getting the thirty-nine percent tax credit. They piggy-back the tax credit on other kinds of federal tax credits like historic preservation or job creation or brownfields credits.
Just another Wall Street scam.
Posted by Dave Johnson at May 10, 2010 7:35 PM
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