State Lottery Funds Education! Or Racetracks. Guess Which?
If you pick “education” and you live in New York, you LOSE!
New York State recently diverted $200 million that was supposed to
go to buy teachers union votes fund education and they instead gave it to a “not-for-profit” organization that runs the Belmont Stakes leg of racing’s Triple Crown and allegedly launders drug money and buys off top legislators.
“As this deal was being made, New York state was in the process of dramatically cutting education, leading to 30,000 job losses — roughly 22,000 in teachers,” Korn says. “And what is most outrageous is the poorest districts were hit with a disproportionate amount of these cuts.”
So, $200 million for a “not-for-profit” instead of funding the poorest school districts in the state. Heh.
New York’s politicians can count on the votes of both the teachers unions and residents of their poorest school districts. That means they can ignore them. On the other hand, the opportunity for kickbacks from the “not-for-profit” crooks means that they need cash. Or New York’s politicians won’t get their cut.
You can read the whole sordid story at the above link, but here’s the money quote.
NYRA’s chief spokesperson, John Durso, Jr., told BuzzFeed News he could not comment on the audit, but that the racing group has entered a new era: “New management, in place since 2013, began a process which successfully culminated in an operating profit of $1.5 million, the first in 13 years. That’s a result of hard choices, running the organization like a business …
NYRA is the New York Racing Association and it’s the “not-for-profit” organization in question. The point that is important, and the article doesn’t identify it that way so I will, is that “not-for-profits” are all run like a business. A for-profit business.
They just distribute the spoils differently and they have different accounting rules that allow them hide things that owner/managers of for-profit businesses would rightly go to prison for.
It works that way at all “not-for-profits.” Including, and especially, colleges and universities. Don’t be fooled by the “not-for-profit” label that the Left likes to flaunt as a good thing because the “profits” somehow magically go away because of reduced prices or somesuch. It’s actually all lost in “creative accounting” that in the private sector would be called “theft.”