From "My Second Grade Reading Records", sent home with Younger Daughter:
OK, I'll go first.
1.) Giving rewards for an activity that should be enjoyed for its own sake is demotivating.
2.) The rewards listed are trivial. It's downright insulting to ask a group of kids to read 250 books just to get a sticker.
3.) Giving a "No Homework Coupon" as a prize is a terrific way to cause all kids to hate homework and perceive it as pointless, even if they previously liked it.