Critics of home schooling say that the practice can prevent kids from receiving a well-rounded education. They argue that not all parents are prepared to teach (most states don't require parents to use a set curriculum or be certified teachers), and, since most home schooled kids are only taught by a handful of instructors, that they'll be taught a very one-sided view of the material.
Another big criticism of home schooling is that it limits the amount of socialization students have, especially with kids from different cultural backgrounds. Some people also think that home schooling can foster social or religious extremism.