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His feeling is that, if education focuses on bringing the lower and avg bunch of kids up, that all kids will benefit b/c a rising tide floats all boats.

I do somewhat see his point.
If our education system could get more high risk kids to graduate, it would create more tax payers and less tax-users.
But, I don't see why it has to be us or them. A good education system should focus on every student being able to meet his/her pontial.