New Report: Private School Vouchers and the Upward Redistribution of Wealth

From the Institute on Taxation and Economic Policy (http://www.itep.org/):

A new report by ITEP and AASA, the School Superintendents Association, details how tax subsidies that funnel money toward private schools are being used as profitable tax shelters by high-income taxpayers. The report, Public Loss, Private Gain: How School Voucher Tax Shelters Undermine Public Education, explains the concept of tuition tax credits, why they were created, how they operate, and why they prove to be more lucrative for wealthy taxpayers than other charitable giving incentives. Nine states provide tax credits that are so incredibly generous that, when combined with federal deductions for charitable giving, taxpayers can turn a profit. Carl Davis, ITEP’s research director, has called the credits “the biggest tax scam you’ve never heard of.” Read his blog post about the report.