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Message
Obama proposal may end taxpayer-subsidized stadiums
Posted on 3/16/15 at 1:47 pm
Posted on 3/16/15 at 1:47 pm
LINK
quote:
If President Barack Obama has his way, the nation’s taxpayers would not help finance a new arena proposed for the Milwaukee Bucks professional basketball team.
Nor would taxpayer-financed, tax-free bonds be used to help finance a new stadium being discussed in St. Louis for the NFL Rams, or in Oakland for a new complex aimed at keeping the area’s professional football, baseball and basketball franchises from leaving town.
An obscure item in the president’s new budget would put an end to the longstanding practice of states and cities using tax-exempt bonds to finance professional sports arenas, a practice that costs the U.S. Treasury $146 million, according to a 2012 Bloomberg analysis.
The proposal comes as many team owners are pressing cities and states for new facilities, with some threatening to move elsewhere if they don’t get them. State and local officials are wary of seeing pro teams depart, taking prestige and tax revenue with them. But they are also taxpayer-minded and budget-conscious.
8
Posted on 3/16/15 at 1:48 pm to Wally Sparks
dissolve the government - everyone wins
Posted on 3/16/15 at 1:52 pm to Wally Sparks
I am ok with this. Just like taking away the nfl non profit status.
Posted on 3/16/15 at 1:56 pm to Wally Sparks
Not an Obama fan, but he's right here. It's ridiculous that sports teams rely on tax payers to cover their expenses. Sports organizations are so lucrative, and they are considered nonprofit. The whole thing is absurd.
Posted on 3/16/15 at 1:58 pm to Wally Sparks
Add in a stipulation that the poors get free tickets to games at the stadium and he'll change his tune. Attending sporting games is an American right that shouldn't be denied on the basis of ones ability to pay.
Posted on 3/16/15 at 2:05 pm to XxxSpooky1
quote:
I am ok with this. Just like taking away the nfl non profit status.
Posted on 3/16/15 at 2:17 pm to XxxSpooky1
quote:
Just like taking away the nfl non profit status.
The NFL pays taxes through the teams.
Posted on 3/16/15 at 2:40 pm to Wally Sparks
Good. Time to stop giving billionaires welfare. Teams hit taxpayers up to build a stadium, then jack up ticket prices as soon as it opens. Joe Fan gets screwed both ways.
Interest rates are almost nothing right now, all these pro sports teams have deep streams of guaranteed revenue thanks to TV -- they can get cheap financing to build a stadium. And Lord knows there's no reason to replace a 20 year old stadium or NBA area, except for greed.
Interest rates are almost nothing right now, all these pro sports teams have deep streams of guaranteed revenue thanks to TV -- they can get cheap financing to build a stadium. And Lord knows there's no reason to replace a 20 year old stadium or NBA area, except for greed.
Posted on 3/16/15 at 2:53 pm to timbo
quote:
Good. Time to stop giving billionaires welfare
Posted on 3/16/15 at 2:55 pm to Wally Sparks
So now the owners will have to own the stadiums right? Not the cities or state?
Posted on 3/16/15 at 2:57 pm to LSUlefty
quote:
So now the owners will have to own the stadiums right? Not the cities or state?
Yes, and they'd still have an incentive you make it a multi-use facility because they could garner more revenue by attracting concerts and special events to the city.
Posted on 3/16/15 at 3:16 pm to Wally Sparks
An Obama thread has been up for over 90 minutes on Tigerdroppings and has 0 downvotes. Holy shite.
Posted on 3/16/15 at 3:19 pm to XxxSpooky1
quote:
I am ok with this. Just like taking away the nfl non profit status.
The non profit status is just a formality to prevent double taxation. The teams are taxed already, the NFL is just an umbrella for those teams to operate under in unity. Taxing the NFL itself would be redundant
Posted on 3/16/15 at 3:24 pm to XxxSpooky1
quote:
I am ok with this. Just like taking away the nfl non profit status.
THE MAIN NFL IS NON-PROFIT, BECAUSE EVERY TEAM IS AN INDIVIDUAL TAX PAYING BUSINESS. THE NFL DOES NOT MAKE REVENEUES, TEAMS DO.
Ignorance, plain and simple.
Posted on 3/16/15 at 3:27 pm to Jcorye1
looks like no stadiums in la
they wanted some tif cash
they wanted some tif cash
Posted on 3/16/15 at 3:29 pm to Jcorye1
The rebuttal I've heard to that is that the revenue is split 33 ways but only 32 tax paying entitites, so the league is still not paying taxes on some stuff.
I don't know how much water that argument holds though, I'm only stating it so someone smarter than me can shoot it down.
I don't know how much water that argument holds though, I'm only stating it so someone smarter than me can shoot it down.
Posted on 3/16/15 at 3:32 pm to Wally Sparks
I totally agreed on him on this one. The taxpayers should not be bailing this mofos out on stadiums cost. But I just worry about if the teams would move because of this?
Posted on 3/16/15 at 3:39 pm to XxxSpooky1
quote:
Just like taking away the nfl non profit status.
I don't see what people don't get about this. The teams already pay taxes. If the NFL as an organization also paid taxes it would essentially be double taxing them. Saying the NFL doesn't pay taxes is very misleading.
Posted on 3/16/15 at 4:47 pm to Wally Sparks
quote:
a practice that costs the U.S. Treasury $146 million
that is not even a peanut to the US debt. talk about doing NOTHING
Posted on 3/16/15 at 4:51 pm to Jcorye1
quote:
I am ok with this. Just like taking away the nfl non profit status.
quote:
Ignorance, plain and simple.
Exactly......this is the exact reason why our country is going downhill. The idiots in this country hear the talking points like this and fail to look into it at all before making asinine rash statements.
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