Home > Uncategorized > Billionaires Philanthropists NOT the Solution to Improving Public Services

Billionaires Philanthropists NOT the Solution to Improving Public Services

Business Insider recently published Anand Giradhardas’ reaction to billionaire investor Ray Dalio’s acknowledgement on 60 Minutes that his cohort should be paying more taxes… and it was pointed without being scathing. The one section of Giradharadas’ critique that resonated with me was his reaction to the news that Dalio and his wife donated $100,000,000 to Connecticut public schools:

“It is fine to donate money to Connecticut. But Dalio’s personal preferences should have zero influence on how the money is spent. This is the problem with the public-private-partnership model he venerates: It puts some rich guy and the State of Connecticut on an equal footing to negotiate a plan to enhance the general welfare. Why? You wouldn’t ask an arsonist to lead the firefighting brigade, and you shouldn’t ask those who have benefited most from a rigged system, and who have the most to lose from genuine reform, to lead the reformation of the system.”

While Mr. Dalio’s $100,000,000 “donation” to public education is commendable, it is roughly 15% of what is needed to close the gap in needed capital outlay if that state hoped to close the gap as determined in a 2016 study by a consortium of school construction organizations. As noted frequently in this post, the targeted contributions by philanthropists usually DON’T match those identified by state or local school boards. They are appreciated… but having every billionaire pay their fair share of taxes would be even more appreciated and beneficial to public education.

And here’s the ultimate bottom line: we will never reform schools until we reform the economic system that created them.

 

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: