School choice vs unions

 Excerpt:

One side says: Here’s a million dollars, but the teachers union is going to take it from you, give it to its friends, create jobs, spend it on politics, and give you a low-quality education.

The other side says: The million dollars is yours—$21,000 for education, $300,000 when you graduate.

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Democrats oppose school choice because the unions fund Democrat politicians. It's the typical Democrat system. They raise taxes for "public schools" but then the money goes to teachers' unions that funnel it back to the Democrat politicians who raised taxes.

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Of the 437,783 campaign contributions made by educators during the 2022 election cycle, 84% supported Democrats. Among professors, 93% of contributions went to Democratic candidates or committees compared to 68% of those from K-12 teachers. According to Open Secrets, 54% of campaign dollars during the 2022 election cycle supported Democrats. And according to Pew Research, 51% of voters preferred Republican candidates in the 2022 election. Judging by their campaign contributions, it is clear that both professors and K-12 teachers lean further to the left than does the American electorate. (See Table 1)

https://www.efinstitute.org/wp-content/uploads/2024/10/EFI-PoliticalDonations_JGreene.pdf  

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https://www.wsj.com/opinion/mamdani-can-make-moms-into-millionaires-4a02840d?mod=trending_now_opn_3

Mamdani Can Make Moms Into Millionaires

How to redirect the money New York City wastes on its failing public school system.

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By 

Jeff Yass

May 11, 2026 11:24 am ET

Zohran Mamdani reads a book to students in New York, Dec. 11, 2025. Michael M. Santiago/Getty Images

New York

I have great news for Mayor Zohran Mamdani: I am here to solve your affordability crisis. I want to show you one of the most advanced mathematical concepts we use in finance. It is called long division. We are very divided by division—some of us use it, some of us don’t.

The Cost: New York City spends roughly $37 billion a year to educate about 850,000 children.

The Math: That’s over $42,000 per child, per year.

The Results: Abysmal. Two-thirds of fourth graders can’t do math problems properly, and almost three-quarters can’t read at grade level. You don’t have to be an expert in fractions to know that is bad.

Let’s agree that the political reality is we can’t reduce the amount of public education spending at all. Fine. What can we do?

Direct Vouchers: Tell every mom in New York City that the $42,000 currently spent on that terrible education is going to be her money.

The Split: We are going to give her half—$21,000. Every year, she will receive that as a voucher for her child to attend whatever school she chooses.

The Investment: We are going to take the other $21,000 and put it in a real account, for which her child is the sole beneficiary. If it returns a paltry 2% over the next 13 years, that child will graduate high school with $300,000—enough for college, trade school or a down payment on a home. Give $300,000 to a graduate who can read, write and do math, and adios, affordability crisis. No more need for $30 million government grocery stores, free buses or rent control. This solution is such an obvious win that I’m confident Mr. Mamdani, once he hears this, will agree and change the policy.

But seriously, think again about what I just said. Properly understood, every mother of two in this city is already a millionaire. Over the 13 years we spend to educate her two kids, we spend more than $1 million for results that are a national shame. The school-choice movement should tell that mom she is a millionaire and we are going to give her the money so she can control her destiny.

One side says: Here’s a million dollars, but the teachers union is going to take it from you, give it to its friends, create jobs, spend it on politics, and give you a low-quality education.

The other side says: The million dollars is yours—$21,000 for education, $300,000 when you graduate.

The reason something like this doesn’t happen in New York is political opposition. The people in charge are not interested in solving the problem; they just want power. Our public education-system isn’t about education; it is a jobs program for the teachers union.

Mr. Yass is managing director and a co-founder of Susquehanna International Group. This is adapted from his speech accepting the Manhattan Institute’s Alexander Hamilton Award on May 6.