A report comparing the cost and academic performance of voucher recipients in Wisconsin to public school students concludes that the voucher programs are highly “productive,” achieving better academic outcomes at lower costs than public schools. But the report suffers from methodological shortcomings that undermine its conclusions. It ignores recent literature examining the effectiveness of voucher programs in other states, overlooks important considerations regarding true school funding costs, and fails to assess the voucher program against an appropriate comparison group of students.