This week alone from the @MiamiHerald on #SBLIV:-Stephen Ross gifts tix to mayor: https://t.co/t5etVk3aZN-Taxpayers cover team hotels: https://t.co/NWe8vmRPTW-The free concert that wasn't: https://t.co/1Htt73Mevf -Miami Gardens gets nothing from NFL: https://t.co/sUPg7HaUVW— Aaron Leibowitz (@aaron_leib) February 1, 2020
This is a great series of articles about how the NFL and its owners continue to make millions and billions and still cost tax payers millions.
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Government that allows super rich to donate unlimited money benefits super rich. More at 8.
FTF....oh, wait. I get it. The lawmakers are super rich.
i read that as "lawnmowers" at first and I was really intrigued...
IT'S GOOD TO BE THE KING!
Upvote for one of the best movie scenes ever made.
I just did it and am ready to it again dont tell me you dont do it
This is why personally I've always liked Jerry Jones for actually building his stadium with his money not the taxpayers nothing is more irritating that tax payer money going for a luxury entertainment thing when the owners have the funds themselves to invest. In my opinion if an owner wants the surrounding community to invest time and money on their sporting club they should have to invest their money first.
I have bad news.
https://www.texasmonthly.com/articles/texas-business-report-how-taxpayer...
Well I was today years old when I learned that. Thankyou for bringing that to my knowledge
So wait they owe 65 million per year for 29 years? And I thought my mortgage was bad holy shit
65 mil total in 29 years. A small fraction of the full stadium cost.
Heavily subsidized is a bit of an exaggeration in that article. 65m over 29 years is peanuts to what it does for the local economy. More than a fair trade imo.
Here is an article highlighting the benefits
Ten Years Later, AT&T Stadium Remains 'Golden' Gift That Keeps on Giving
For some context here, the year they're comparing to is 2008, infamous for the start of the Great Recession. We've had ten years of amazing growth since then which included about a 30% growth in consumer spending nationally. In no economic model would a rational attribution give all of that growth to the presence of these buildings.
True and I'm no advocate for using public money to further enrich the NFL/Owners/Players. The point for me is that it's owned by the City of Arlington, so an argument could be made that Jerry Jones and the NFL heavily subsidized a public building LOL.
You know what's crazy though all those things would still happen if they built it there WITHOUT tax money. Then think about how far ahead they would be.
While true it doesn't mean that its bad use of funds to entice a team to build it your municipality. Just looks at the way cities were tripping over themselves to attract Amazon. Its a race to the bottom and in most cases it seems like the potential tax revenue is overblown and the costs to operate and maintain under estimated and the next thing you know the stadium is a hunk of concrete resentment rather than a public benefit.
I just don't understand why Virginia put together a package. The package really should have been:
1) You want government contracts, this is where the Pentagon is
2) You want to be closer to your data centers, well they are all in Loudoun
3) We already let dominion power charge its customers more so they didnt have to charge you what more do you want
4) Lets be honest you're not going to Maryland
Amazon was always coming to VA. Why play into them.
A few articles.
https://www.pbs.org/newshour/nation/public-money-used-build-sports-stadiums
https://research.stlouisfed.org/publications/page1-econ/2017-05-01/the-e...
I'm not sure the point your going for with the articles?
Just articles that can be read to add knowledge. Or not.
You started it.
I learned a new word from this picture - malversation
Yeah Dan Snyder is trying to get my tax dollars to pay for a new stadium. So dumb
They worked the system, good on them. Need the taxpayers to pay off my mortgage so I can just hunt, fish and watch sports till the end of my days...
I'm sorry to have to tell you this, but having a job and a mortgage makes YOU the taxpayer. You're the one who will be doing the subsidizing.
The dollar is no longer backed by gold. We're living in a debt driven inflation economy. The banks and governments rely on debtors to keep the economy afloat. This benefits investors and penalizes savers. People who work for money and save it will pay the highest taxes because they're not contributing to the debt economy. Not in a useful way. Investors who take out huge loans and then pay them off with huge tax benefits and other peoples' money will continue to do so because they're encouraged by the banks and governments to do so. There's no beating them. We can continue to work for money and complain about the rich or we can start to invest our money with leverage and boost the economy and stack our assets to be rich too. It's our choice...no one is holding a gun to our heads.
Cities will start to figure it out. Some already have - San Diego for starters. Oakland. Eventually they'll run out of cities willing to pony up hundreds of millions to build stadiums.
Will they though?
So, pretty much what every major university does?
Just need to figure out the difference between some reasonable skin in the game and extortion.
But I thought the super wealthy didn't like socialism
Corporate welfare is ok. (It's ironic that both parties speak out against this kind thing and then local and state governments fall over themselves to do it no matter which side of the aisle they are on)
Local elections are cheaper to buy and have much dimmer spotlights on them.
They don't like socialization.
They prefer extortion, where they force the locality to give them tax breaks.
They call it "Winning."
They are totally for the redistribution of wealth, but only in one direction...
There are many studies and analyses that show most of these corporate deals do not pay back and cost the taxpayers.
The NFL hates spending their own money...hates it. I posted that last week. They charge fellow owners half a billion dollars to move their teams... payable to ....themselves, not the city that is being deserted. It's a huge scam.
NFL and team owners right now.