“According to the 2009 OECD figures, the US government spends more per pupil than any nation in the world except Switzerland. The US spent an average of $149,000 for the K–12 education of every 2009 public high school graduate. That works out to $11,461 per year or so.
So the solution is obvious: shut down the schools and invest the money instead. Just let the kids stay home and study on the Internet. Let’s even save some money to reduce the deficit, and only invest $11,000 per year. At 7% return, each child would have a $391,000 IRA when they’re 18. That way, even if they spend the next 50 years surfing or hiking the Appalachian Trail, they would all retire at 68 with $12,512,000 (assuming the same 7% average yearly return). This solves not only the education crisis, but the Social Security problem (they wouldn’t need it) AND the health-budget crisis (how much heart disease could there be, if everyone spent their time surfing and hiking?)”
Even without a 7% rate of return, these kids would be handsomely wealthy! Can you imagine if you factored in the savings of not going to college as well? And then, if instead these children worked during the time they'd normally have spent in school, even if it was in a minimum wage job, which is likely all they're going to get after graduation anyway! What waste!
So, as it turns out, Peter Thiel may be correct in his thesis that the flaws in our education system are the reason we’re not as rich as we should be. And think, all those bums in Madison and the teacher that wrote this would have to get real jobs.
I’m a libertarian, but who on Earth would not consider a system where we just gave these children the $11,461.00 per year that it costs to create make-work for teachers, most of which haven’t even mastered basic logic, a superior solution? Let’s see, welfare that forces you into the ideologically blind-folded, cookie-cutter schooling system, or welfare that enables you to live a prosperous life. Let’s abolish the schools now!