Where Has All The Money For Our Schools Gone?
By Scott Klinger for Other Worlds - State and local governments give away at least $70 billion a year to business subsidies, most of it in foregone tax revenue. Local property taxes are the most significant tax most corporations pay. In most communities, they’re also the backbone of local school finance. So when subsidies slash corporate property taxes, our schools often get hurt the most. In Chicago, for example, we already have a glimpse into the unsavory relationship between tax subsidies and school finance.