According to the Bureau of Labor Statistics, there are almost 7 million teachers employed in the US. If you take 10K off of each teacher's salary (through union busting and charter schools), that leaves 70 billion dollars for hedge funds and Wall Street profit. That is your tax money and ours--70 billion--going to Wall Street.
In 2004, the National Assessment Governing Board (NAGB) released an analysis of charter school performance on the 2003 National Assessment of Educational Progress (NAEP), also known as The Nation's Report Card. The report found that charter school students, on average, score lower than students in traditional public schools. While there was no measurable difference between charter school students and students in traditional public schools in the same racial/ethnic subgroup, charter school students who were eligible for free or reduced-price lunch scored lower than their peers in traditional public schools, and charter school students in central cities scored lower than their peers in math in 4th grade.
NAGB looked at the impact of school characteristics and found that:
Charter schools that were part of the local school district had significantly higher scores than charter schools that served as their own district.
Students taught by certified teachers had roughly comparable scores whether they attended charter schools or traditional public schools, but the scores of students taught by uncertified teachers in charter schools were significantly lower than those of charter school students with certified teachers.
Students taught by teachers with at least five years' experience outperformed students with less experienced teachers, regardless of the type of school attended, but charter school students with inexperienced teachers did significantly worse than students in traditional public schools with less experienced teachers. (The impact of this finding is compounded by the fact that charter schools are twice as likely as traditional public schools to employ inexperienced teachers.)
In a study that followed North Carolina students for several years, professors Robert Bifulco and Helen Ladd found that students in charter schools actually made considerably smaller achievement gains in charter schools than they would have in traditional public schools.
http://www.nea.org/charter/index.html