Mary O’Grady reports on how Bachelet’s policies have repercussions:
The Chile ‘Miracle’ Goes in Reverse
Investment and growth are falling, and now the government targets private schools.
To understand why the outlook for the Chilean “miracle” is so grim and investment is plummeting, look no further than this government’s obsession with holding back those who would skate ahead of the pack.
Ms. Bachelet has increased tax rates on everything from capital to consumption. One objective is to soak the investor class, making it poorer so that income inequality goes down. But it is more likely that income disparities will go up since the rich have ways to shelter income while the poor depend on job creation from investment to earn their daily bread and build wealth.
Additionally, Bachelt will end school vouchers,
The new law, which passed the lower house last month and now goes to the senate, would prohibit students from using vouchers to attend for-profit schools and prohibit schools that receive public subsidies from charging parents a co-payment. What is more, schools will no longer be allowed to select students because, apparently, it is “unfair” for gifted children to learn at their own speed.
Vouchers make it harder to indoctrinate kids, too.
Chile had a good run.
So much for that.