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Charter school advocates argue school choice improves education for all students while shoring up the rights of individuals to choose schools. Critics have claimed that histories of race-based discriminatory practices undermine choice for Black and Latine/a/o communities. These histories play out in contemporary patterns of school segregation reflecting intersections of racialized and socioeconomic status. Some advocates dismiss segregation critiques via an equity-by-segregation argument, claiming intentionally serving majority Black, Latine/a/o, or lower-income demographics can improve academic outcomes for that specific student population. I use rational choice theory to evaluate the equity-by-segregation argument for charter schools, ultimately expressing the incongruity of segregated charter schools and rational choice.