25% Off Black Friday Sale

Taxpayers Pay for Multi-Million Dollar Sport Teams

Results 1 to 7 of 7
  1. #1
    Windy City
    ELITE MEMBER
    Big Smoothy's Avatar


    Join Date
    Jan 2004
    Location
    South America
    Posts
    5,608
    Rep Points
    235125658

    Taxpayers Pay for Multi-Million Dollar Sport Teams

    This is old news.

    Lots of talk of "socialism" in the US recently. As usual, a lot of the socialism goes to the MIC and corporations, which include, multi-billion dollar sport teams.

    This is so ridiculous that it's worthy of its own thread.

    I'll put up more examples, including one from my home-town.

    In Stadium Building Spree, U.S. Taxpayers Lose $4 Billion
    By Aaron Kuriloff and Darrell Preston - Sep 6, 2012

    New York Giants fans will cheer on their team against the Dallas Cowboys at tonight's National Football League opener in New Jersey. At tax time, they'll help pay for the opponents $1.2 billion home field in Texas.

    That's because the 80,000-seat Cowboys Stadium was built partly using tax-free borrowing by the City of Arlington. The resulting subsidy comes out of the pockets of every American taxpayer, including Giants fans. The money doesn?t go directly to the Cowboys billionaire owner Jerry Jones. Rather, it lowers the cost of financing, giving his team the highest revenue in the NFL and making it the leagues most-valuable franchise.

    It's part of the corruption of the federal tax system,? said James Runzheimer, 67, an Arlington lawyer who led opponents of public borrowing for the structure known locally as Jerry's World. ?It's use of government funds to subsidize activity that the private sector can finance on its own.

    Jones is one of dozens of wealthy owners whose big-league teams benefit from millions of dollars in taxpayer subsidies. Michael Jordan?s Charlotte, North Carolina, Bobcats basketball team plays in a municipal bond-financed stadium, the Time Warner Cable Arena, where the Democratic Party is meeting this week. The Republicans last week used Florida?s Tampa Bay Times Forum, also financed with tax-exempt debt. It is the home of hockey?s Lightning, owned by hedge-fund manager Jeffrey Vinik. None of the owners who responded would comment.



    Entire: In Stadium Building Spree, U.S. Taxpayers Lose $4 Billion - Bloomberg
    It's an accurate statement that our current spending will not be increasing the debt We've stopped spending money that we don't have.

    -- Jack Lew, then director of the Office of Management and Budget, in Feb. 16, 2011 testimony before the Senate Budget Committee.

  2. #2
    .45 ACP rules!


    Join Date
    Feb 2008
    Gender
    Male
    Location
    Michigan
    Posts
    5,606
    Rep Points
    2147483647

    Corporate welfare is okay because that's what the talking heads say.
    If gunners were as violent as anti-gunners believe, logically there wouldn't be any anti-gunners left.

  3. #3
    Registered User
    hoyle21's Avatar


    Join Date
    Apr 2011
    Gender
    Male
    Location
    in a van down by the river
    Posts
    3,634
    Rep Points
    623703604

    Taxpayers Pay for Multi-Million Dollar Sport Teams

    I thought the Texas Rangers while owned by George W. were one of the first to steal from tax payers like that.

  4. #4
    STFU AND TRAIN!!!!
    Z499's Avatar


    Join Date
    Aug 2012
    Gender
    Male
    Location
    Ohio Valley
    Posts
    1,706
    Rep Points
    273750217

    i would much rather see our first responders get that money cause they actually do something that worth a shit.

  5. #5
    Is Doin It 4 Da Shorteez
    LAM's Avatar


    Join Date
    May 2002
    Gender
    Male
    Location
    Las Vegas & Florida & St. Croix
    Posts
    16,381
    Rep Points
    980708041

    Quote Originally Posted by Zaphod View Post
    Corporate welfare is okay because that's what the talking heads say.
    their hypocrisy is legendary and knows no bounds.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

  6. #6
    Registered User
    GearsMcGilf's Avatar


    Join Date
    Dec 2009
    Gender
    Male
    Location
    AL
    Posts
    5,843
    Rep Points
    591414082

    Corp welfare is pretty much universal. Every country does it to keep their shit competitive.

  7. #7
    Is Doin It 4 Da Shorteez
    LAM's Avatar


    Join Date
    May 2002
    Gender
    Male
    Location
    Las Vegas & Florida & St. Croix
    Posts
    16,381
    Rep Points
    980708041

    Quote Originally Posted by GearsMcGilf View Post
    Corp welfare is pretty much universal. Every country does it to keep their shit competitive.
    please explain how corporate welfare helps to increase competitiveness in a country where in reality only 15% of GDP is from actual trade?

    this should be good...
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

Similar Threads

  1. $5 Million Dollar Garage
    By OfficerFarva in forum Open Chat
    Replies: 7
    Last Post: 04-12-2012, 11:08 PM
  2. I just won a Million Dollar Prize
    By NordicNacho in forum Open Chat
    Replies: 7
    Last Post: 10-09-2008, 04:43 PM
  3. JFK's 2 million dollar shirt!
    By TheGreatSatan in forum Open Chat
    Replies: 1
    Last Post: 06-13-2007, 09:47 PM
  4. Million dollar phone
    By viet_jon in forum Open Chat
    Replies: 7
    Last Post: 11-02-2006, 01:22 PM
  5. Million Dollar Ideas
    By Jake in forum Open Chat
    Replies: 4
    Last Post: 04-26-2004, 03:13 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
-->