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There are certainly ways to exploit any system, but where we are now is horrible, and has steadily been getting worse for at least ~60 years. Criticism of a proposed system doesn't mean much, when the current system already has the same flaws but worse.

There's basically no reason not to switch over to an entirely 'Charter' system, except for corruption. Good public schools (and there are some) can simply reorganize themselves to function as just another charter school for the district, and compete to be the best. Thomas Sowell covers some key...