Today we are expecting a VOTE on the ESA “only” BILL (S39).
We actively oppose this ESA “only” bill because it is 100% government-run. Who would want the GOVERNMENT having 100% control over the purse-strings of our Private & Christian schools? That is just not smart knowing that strings come with all “government” money.
Well, #FollowTheMoney and you will understand.
TWO COMMON TAXPAYER QUESTIONS:
1. We always wonder why someone would want a legislator “job” that only pays $10,400 / year???
2. How do politicians go into office broke, and come out worth MILLIONS & MILLIONS of dollars??? We see this in Congress all the time … but guess what, it is right here in the South Carolina State House too.
3. Why have LEGISLATORS been sooooo pushy on the ESA as opposed to the obviously in EVERY RESPECT better, by any measure, PACE Scholarship Bill??? Legislators have literally refused all reasonable discussions … so something is fishy?!?!?!
#FollowTheMONEY!!!
Well, the following is a taste of the BIG TIME MONEY in the Education Savings Account Bill (S39), The data just came out FRIDAY!!! Right before the VOTE??? No coincidence in our book.
We used the governments own January 27th, 2023 Fiscal Analysis of the bill.
As you can see from the Fiscal Analysis produced by SC Revenue & Fiscal Affairs group, all of these numbers come directly from the government itself.
$1 MILLION up-front!!!
$1.5 MILLION a year for a “Service Agreement”!!!
3% … FOREVER!!!
$183 MILLION Net Present Value!!!
Up to Half-A-Billion in Private Equity CAPITAL VALUE.
Good business “if” you can get it … or a GOOD INVESTMENT if you can invest in these “private” companies … and let us assure you, YOU can’t get this business, and You can not invest … and it won’t be going to a South Carolina business either … our bet … the anti-2nd Amendment tech company out of Floridan called CLASSWALLET.
More on CLASSWALLET later … https://classwallet.com
And worse … the ADMINISTRATIVE FEES are much higher than those under the P.A.C.E. Scholarship Bill. 13.25% vs. 5% in year #1.
It is incredible … and should be CRIMINAL!!!
These extra ADMINISTRATIVE FEES are also just the “tip of the iceberg“. The “Private Financial Management Firms” have all kinds of extra ways to “profit” off the program.
Remember these ESAs let you buy all kinds of “educational stuff” … from THEIR MARKETPLACE. The “marketplace” is not necessarily the best value, but when it is considered “free money” to the families it is not that big of a concern paying 5% or 10% or 20% MORE than say Walmart.
Ask yourself, when has the GOVERNMENT ever done anything cheaper than the free-market … or a bunch of SC Non-Profits???
This legislative corruption is pervasive in South Carolina “politics” … and MUST STOP!!!
#FollowTheMoney!!!