First of all: "We've taken away his tv viewing (he usually enjoys watching 1 show a night) and special activities, but HE STILL DOESN'T CHANGE."
So obviously this punitive approach is not working. Stop it. No, you are not wrong for wanting to enjoy the time with your kid. So enjoy it, and stop punishing him for immature behaviors at school.
Educationally, and in just about every other way, your time with your child is more important than what he is doing at school, especially at this age. So stop making it unpleasant. In addition, if you keep punishing him for things related to school, you are setting school up to be something negative.
When your kids are all grown up, and you go back to an elementary school and look at kindergarteners, you see what teeny tiny little babies they still are, something you didn't see when you were in the midst of it all. Your child is still just a baby, and adult behaviors shouldn't be expected of him just yet.
At his age, allow the consequences to happen at school. If he spends time in another class, so be it. If the school personnel can never figure out any other way to engage your child, maybe you will eventually want to find another school, a charter school possibly. If he's the class clown, who knows, maybe he will end up being a comedian. The way you best support the school is by giving him a calm, loving, supportive foundation at home.
And read to him.
eta: I certainly appreciate the support of a parent like Michelle M., but then I'm a middle school teacher. Save such consequences for middle school.