It is so much worse than most people even realize. Bill Clinton literally introduced this bill at the birthplace of the KKK in front of black prisoners. Go read this article if you aren't familiar with it.
https://www.jacobinmag.com/2016/09/stone-mountain-kkk-white-supremacy-simmons/
Here's a good read on the origins of private prisons for profit. Clinton became president about 150 years later:
https://time.com/5405158/the-true-history-of-americas-private-prison-industry/