Consider a half-cent sales tax, dedicated to educators' salaries ' but only through endowed funds. Eighty percent would go to the Community Foundation for K-12 education, 20 percent to the UL Foundation.
Consider UL, which gets a 40 percent state match. UL could find donors for further matches: $300,000 from taxes, $300,000 from donors, $400,000 from the state ' a $1 million chair, yielding $50,000 a year.
But universities generate a seven-fold multiplier. So $300,000 in taxes gives $50,000 a year. So $50,000 times seven generates $350,000 ' an immediate profit. But while each $300,000 is a one-time investment, the corresponding $350,000 per year is generated in perpetuity.
Next, consider that better faculty generate intellectual property, grants funding and support for local industry. They also recruit more students, who swell enrollments, another immediate impact. But those students provide a continually growing resource for infrastructure, leadership, and entrepreneurship, in the pivotal fields of technology, education, medicine, business, culture and tourism.
Now modify the model for our schools. First, three-fourths of the invested 80 percent (60 percent of the total) might supplement salaries for all teachers. The other one-quarter (20 percent) is leveraged against donations. With sliding scales based on the school lunch program, donors would give 30 to 60 percent matches for naming rights of a K-12 chair. These matches produce endowments of $200,000-250,000, augmenting superior teachers' salaries $10,000 to 12,000 a year. Private schools could also be eligible for this chair match program. The matches and multipliers here are smaller; it might take five to 10 years for yields to exceed investments. But thereafter, the funds generate ever-increasing returns into the economy, far above what they take in.
With growth in perpetuity.
But the benefits precede salary increases: the very best teachers across the U.S. know that they could enjoy ever-increasing salaries in Lafayette, even more so if they merit a chair.
Better schools will help us recruit better employees and industries, further growing our economy, producing even more taxes for government and schools. This plan will also increase our funding under the Minimum Foundation Program, further enhancing Lafayette.
The Board of Elementary and Secondary Education is considering whether to get involved in a lawsuit against Gov. Bobby Jindal for his attempts to undermine use of the Common Core education standards in Louisiana's public schools.
The latest meeting of a south Louisiana flood board that stirred political turmoil with a lawsuit against the oil and gas industry is taking place amid uncertainty over the future of the lawsuit — and the board's own membership.
The photos taken nearly a mile under the Gulf of Mexico are so clear that small holes are visible in a lifeboat that may have gone down or been scuttled when a passenger ship was sunk by a Nazi submarine in 1942.
Advocate columnist and Jindal shill Quin Hillyer has been against the New Orleans levee board lawsuit from day one, but a recent piece targeting author/activist John Barry prompted the perfect rebuttal from the board’s former vice-president, who takes Hillyer to task on just about every distorted claim he’s made on the issue.
Thursday's Blogs from the Bog!
Pat Bowlen steps down; typhoon caused Taiwan plane crash; Arizona execution botched and more national and international news for Thursday, July 24, 2014.
Thousands of people who bought health insurance through the marketplace created by the federal health care overhaul face price hikes next year that could top 10 percent.
Louisiana fell one spot in an annual national ranking of child well-being that looks at poverty, education and health access.
A federal judge has decided he doesn't need to hear more arguments in the case of a gay couple who want a Louisiana marriage license.
Saints again bring playoff aspirations into 2014 campaign.
New details in the case against the man arrested for last week’s bomb threat and bank robbery has surfaced, including a MidSouth Bank surveillance video showing the alleged suspect attempt an early-morning bank robbery.
Parents and teachers who support the Common Core education standards sued Gov. Bobby Jindal Tuesday over his actions against the multi-state standards, accusing him of illegally meddling in education policy.
An arrest was announced this morning in connection with last week’s bomb scare at UL Lafayette.
Attorneys, judges and others interviewed by LaPolitics expect 15 to 20 district judge races this year.
"I feel like I'm under siege," an attorney said recently over drinks at Galatoire's Bistro in Baton Rouge. "We all do. Every time I turn around somebody wants a check. District attorney races. The judges. They're killing us."
As a requirement for running for Congress in the 6th District, former Gov. Edwin Edwards has filed his financial disclosure statement with the U.S. House showing his income in 2013 totaling $242,787.
Unlike those swindled by Bernie Madoff, the victims of Texas businessman Robert Allen Stanford’s Ponzi scheme won’t be getting any relief from the Securities Investor Protection Corp.’s emergency fund after a recent appellate court ruling.
The legal challenge is part of a continuing struggle over Common Core, which has become controversial since the Board of Elementary and Secondary Education adopted the standards in 2010.
The lone Democrat to announce he's running for governor, state Rep. John Bel Edwards, criticized Republican Gov. Bobby Jindal's budgeting tactics as "running the state like a big Ponzi scheme."
State police have arrested a 42-year-old Kaplan man in the July 7 hit and run fatality crash that killed a bicyclist on Louisiana Highway 92 near Milton.
Republican U.S. Rep. Bill Cassidy has picked up support for his U.S. Senate campaign from a former GOP competitor.
Lisa Hargis Smith lived a mysterious life as seen with her death earlier this month and its impact on the community of those who knew her, whether as a star student in Lafayette High’s class of ‘69, or later as a woman struggling with homelessness and mental illness.
Attorney Valerie Gotch Garrett will announce on Tuesday that she plans to run for the Division E seat of the 15th Judicial District Court.
Back in 2012, three Baton Rouge attorneys came to the aid of several disgruntled police officers with a high-profile lawsuit against the Lafayette Police chief and a number of higher-ups in city-parish government, but in a federal courtroom Thursday, their claims of conspiracy coupled with a lack of evidence backfired and the case was dismissed.
Gov. Bobby Jindal's administration intends to rework how it pays the private managed care networks that provide health services to two-thirds of Louisiana's Medicaid patients.