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It's worth a lot to the people that are payed to produce it. There are thousands of support jobs in the entertainment business. The people that play the music/act/play the sport are only a very small part of it.
The workers in the industries are the ones that add value. If you take away the jobs created by entertainment, there would be a lot of unemployed who are suddenly not able to buy the goods and services that the rest of humanity provides.
You are still missing the point. It does not matter how many people are employed in the industry, what matters is that the industry does not produce anything of value.
It is analogous to the Indian Casinos. Indian Casinos employ many people directly and indirectly, but they produce no product. They simply take money from the marketplace that should have been being put to productive use.
That is the main reason gambling was against the law for so long. Not that is was morally wrong, but that it was a economic parasite.
Gold towns were another example. Many Miners acquired a great deal of wealth only to squander it on whiskey and prostitutes. In the end, most mining towns turned to ghost towns as soon as the gold ran out. Nothing of real lasting value was ever created.
You are still missing the point. It does not matter how many people are employed in the industry, what matters is that the industry does not produce anything of value.
Professional sports teams are directly responsible for producing billion$ in sports apparel and novelties.
You are still missing the point. It does not matter how many people are employed in the industry, what matters is that the industry does not produce anything of value.
It is analogous to the Indian Casinos. Indian Casinos employ many people directly and indirectly, but they produce no product. They simply take money from the marketplace that should have been being put to productive use.
That is the main reason gambling was against the law for so long. Not that is was morally wrong, but that it was a economic parasite.
Gold towns were another example. Many Miners acquired a great deal of wealth only to squander it on whiskey and prostitutes. In the end, most mining towns turned to ghost towns as soon as the gold ran out. Nothing of real lasting value was ever created.
I don't think those are appropriate analogies at all. What about advances in medicine directly related to those studying sports injuries? The advances in car and fuel technology directly inspired by car racing, which has been happening since cars were invented?
Sports generates revenue from advertising for thousands of businesses that sponsor it. There are TV networks which would not be in existence if it wasn't for sporting events. There wouldn't be Gatorade, for goodness' sakes.
Then there's the athletic shoe and sporting goods industries. Those thrive because of the endorsement of highly paid sports stars.
And, as I said earlier, it provides income for thousands and thousands of families. I don't know how it's possible to discount that. That's a gazillion dollars in consumer buying power. To say that it just sucks out dollars into a vacuum and doesn't generate anything just doesn't seem right.
I don't think those are appropriate analogies at all. What about advances in medicine directly related to those studying sports injuries? The advances in car and fuel technology directly inspired by car racing, which has been happening since cars were invented?
Sports generates revenue from advertising for thousands of businesses that sponsor it. There are TV networks which would not be in existence if it wasn't for sporting events. There wouldn't be Gatorade, for goodness' sakes.
Then there's the athletic shoe and sporting goods industries. Those thrive because of the endorsement of highly paid sports stars.
And, as I said earlier, it provides income for thousands and thousands of families. I don't know how it's possible to discount that. That's a gazillion dollars in consumer buying power. To say that it just sucks out dollars into a vacuum and doesn't generate anything just doesn't seem right.
The fact is that in order for it to simultaneously provide those thousands of jobs along with the multi million dollar salaries for not only the players but for owners, coaches, administrators, players organizations, and the like, sports have to drain billions of dollars from the public. Billions of dollars, for which those people get no value, other than to be entertained for a short period.
For the fan who spends often thousands of dollars a year on tickets, food, tailgating, clothing, and everything else that goes along with "supporting your team" it is a loosing proposition.
Professional sports lives off the knowledge that people can always afford what they want, but never seem to be able to afford what they need. A resent poll stated that 44% of the population could not put their hands on $2000 in thirty days if they needed to. The reason for that shocking statistic is that people are programmed to spend their money as fast as they get it.
That money is usually being diverted from areas like 401K contributions, education, and investments that would build wealth and security for their families.
So yes it offends me to see people making obscene amounts of money for providing a service that provides little value to their fans, and is usually detrimental to them over the long haul. Just my opinion.
The fact is that in order for it to simultaneously provide those thousands of jobs along with the multi million dollar salaries for not only the players but for owners, coaches, administrators, players organizations, and the like, sports have to drain billions of dollars from the public. Billions of dollars, for which those people get no value, other than to be entertained for a short period.
Most of the money does not come from the public.
Quote:
Originally Posted by jimhcom
For the fan who spends often thousands of dollars a year on tickets, food, tailgating, clothing, and everything else that goes along with "supporting your team" it is a loosing proposition.
A loosing proposition can be beneficial depending on how loose it actually is. The fan can use that wiggle room in their favor.
Quote:
Originally Posted by jimhcom
Professional sports lives off the knowledge that people can always afford what they want, but never seem to be able to afford what they need. A resent poll stated that 44% of the population could not put their hands on $2000 in thirty days if they needed to. The reason for that shocking statistic is that people are programmed to spend their money as fast as they get it.
I question the accuracy of that poll. If they are only polling folks that have resented their spending or lack of ability to save, then it's really skewed.
Quote:
Originally Posted by jimhcom
That money is usually being diverted from areas like 401K contributions, education, and investments that would build wealth and security for their families.
So yes it offends me to see people making obscene amounts of money for providing a service that provides little value to their fans, and is usually detrimental to them over the long haul. Just my opinion.
The fans obviously see this entertainment as enough value for their money or they wouldn't keep spending their money. There's no scheme here. It's pretty straight forward.
The reason I don't watch major league sports is the amount of money these prima donna crybabies make. Even with the obscene salaries a good portion of them have the nerve to say they feel they deserve more money.
Add in the fact that they sit out weeks at a time for minor injuries and still collect their pay is just ridiculous. Lets go back to the 40's and 50's when football players where on the field with broken arms and bleeding.. Then maybe I would mind the salaries. As of right now anyone that supports these crybabies needs to have their head examined.
If you like football or baseball then got out and play it and quit trying to live vicariously through the accomplishment of others. Just because your city's sports team won the season doesn't make you any more of a man or woman..
The U.S. Tax Court is reviewing the 2-year-old dispute, which centers on how Goosen’s licensing and endorsement income from the tax years 2002 and ‘03 is classified for tax purposes.
According to the IRS in a finding letter dated September 2009, Goosen owes $164,698 in back taxes and $32,940 in penalties.
“I know I’ve paid my taxes,” Goosen said March 19 at the Transitions Championship. “I don’t owe the government anything.”
Quote:
Professional athletes are taxed at different rates for their endorsement income. In general, the more money that is regarded as “royalty income” instead of “personal service income,” the less tax owed.
The fact is that in order for it to simultaneously provide those thousands of jobs along with the multi million dollar salaries for not only the players but for owners, coaches, administrators, players organizations, and the like, sports have to drain billions of dollars from the public. Billions of dollars, for which those people get no value, other than to be entertained for a short period.
For the fan who spends often thousands of dollars a year on tickets, food, tailgating, clothing, and everything else that goes along with "supporting your team" it is a loosing proposition.
Professional sports lives off the knowledge that people can always afford what they want, but never seem to be able to afford what they need. A resent poll stated that 44% of the population could not put their hands on $2000 in thirty days if they needed to. The reason for that shocking statistic is that people are programmed to spend their money as fast as they get it.
That money is usually being diverted from areas like 401K contributions, education, and investments that would build wealth and security for their families.
So yes it offends me to see people making obscene amounts of money for providing a service that provides little value to their fans, and is usually detrimental to them over the long haul. Just my opinion.
I understand what you're saying, and it's a very interesting perspective. Could you not, though, apply it to pretty much every non essential pursuit people might indulge in?
Just about every hobby or interest that people spend money on results in them being entertained for a short period, and getting nothing of "value" in return.
And really, it's up to the public how much they want to spend on it all. There's no need to go to a game if it means taking food out of your childrens' mouths, you can stay home and watch it on TV. You don't need to go to every game, buy every jersey, spend tons money you don't have on it. People that do that have issues beyond being sports fans, IMO. I think they're crazy to do it, I'm not defending them.
But this all begs the question, do people spend way too much money they don't have on crap they don't need - which is not the same question as do professional athletes make too much money. Again, the athletes are only making a percentage of what is available to make.
Frivolous entertainment is a part of society for a reason. We don't just live to watch our bank accounts grow, to the detriment of living life. Has it gone too far? Most likely. But to take it away completely, to live without music, movies, sports, restaurants, fashion, bars - anything that provides pleasure away from the daily grind - would be to live a somewhat bleak existence.
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