Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
These are tax breaks that most companies can take advantage of, in other words they are keeping the money they have earned. Exxon by itself will generate enough revenue in a few days that will exceed all the tax breaks given to the entire industry. In the grand scheme of things it's a trivial amount.
All the money the well-protected corporations don't pay comes out of your pocket and mine. So in rightwingistan, oil companies "keeping the money they earned" is better than the public keeping theirs.
But then, we don't hire armies of accountants and legions of lobbyists like they do.
All the money the well-protected corporations don't pay comes out of your pocket and mine. So in rightwingistan, oil companies "keeping the money they earned" is better than the public keeping theirs.
But then, we don't hire armies of accountants and legions of lobbyists like they do.
Add provisions for the stadium rental to be at the going rate (no $1/year deals) and the provision of discounted tickets to regular folks living in the relevant voting area, and you *might* be able to convince me - depending on details of course. If the voters own it, they get to take direct advantage of their ownership.
Cowboy Stadium (now called AT&T Stadium) is in Arlington, TX. Jerry Jones pays Arlington $2 Million a year in rent (the City owns the Stadium) and another $500,000 a year in "naming rights" because he sold the name to AT&T. Citizens don't get "discounted tickets", but the City does get a specified amount (I forgot how much) for "Public Improvement" -- one of the uses was a Public Music Venue/Outdoor Theater with Free Concerts for 6 months out of the year. He also does a cheap TailGate party thing for every game that is very popular.
It's all about the "deal". Arlington built a Baseball Stadium for the Texas Rangers and paid it off 10 years early - the City owns the Stadium. Cowboy Stadium is on track to be paid off 10 years (or more) early also. I wasn't in favor of either of these Stadiums (there was a voter referendum), but they have proven to be good investments. I don't think anyone had a clue about how Jerry Jones would keep the money flowing by constantly scheduling events in Cowboy Stadium - everything from High School games, Bowling Tournaments, Tractor Pulls, NBA games, Garden Shows, Concerts ..... you name it and he will bring it. All of these events provide Tax Revenue to the City.
It's all about the "deal" and the fiscal responsibility to pay down the bonds early.
All the money the well-protected corporations don't pay comes out of your pocket and mine. So in rightwingistan, oil companies "keeping the money they earned" is better than the public keeping theirs.
But then, we don't hire armies of accountants and legions of lobbyists like they do.
You will pay for it one way or the other. Any tax on business is folded into the cost of the product.
St louis did the right thing letting the Rams go, they were losing money and made an offer they couldn't afford. Cutting public service to fund sports teams enterprises that are losing money, no brainer for most. The good news is that the Rams will be paying for their own construction and own the property, nice to see a team off public assistance.
"But the economics underpinning the recent deal St. Louis and the State of Missouri tried to put together to keep the Rams would have been financially ruinous. Let’s not be coy about this: St. Louis, a city of fewer than 320,000 people, with a shrinking tax base, simply couldn’t afford to help finance the $1 billion stadium that the Rams’ billionaire owner, E. Stanley Kroenke, was seeking. Its mistake was in trying
.................................................. ......
The city, which originally put up $70 million, ultimately agreed to pay nearly $150 million — money it didn’t really have. Remember that game-day tax? Instead of using it to pay off the bonds on the dome — $100 million is still owed — it cravenly agreed to turn it all over to the Rams. The state cut a naming-rights deal with National Car Rental for $158 million — money it was going to turn over to the team. Jerry Jones, who wanted the Rams back in Los Angeles, sniffed that $158 million wouldn’t buy a lobby in Los Angeles."
St louis did the right thing letting the Rams go, they were losing money and made an offer they couldn't afford. Cutting public service to fund sports teams enterprises that are losing money, no brainer for most. The good news is that the Rams will be paying for their own construction and own the property, nice to see a team off public assistance.
"But the economics underpinning the recent deal St. Louis and the State of Missouri tried to put together to keep the Rams would have been financially ruinous. Let’s not be coy about this: St. Louis, a city of fewer than 320,000 people, with a shrinking tax base, simply couldn’t afford to help finance the $1 billion stadium that the Rams’ billionaire owner, E. Stanley Kroenke, was seeking. Its mistake was in trying
.................................................. ......
The city, which originally put up $70 million, ultimately agreed to pay nearly $150 million — money it didn’t really have. Remember that game-day tax? Instead of using it to pay off the bonds on the dome — $100 million is still owed — it cravenly agreed to turn it all over to the Rams. The state cut a naming-rights deal with National Car Rental for $158 million — money it was going to turn over to the team. Jerry Jones, who wanted the Rams back in Los Angeles, sniffed that $158 million wouldn’t buy a lobby in Los Angeles."
The bigger question in my mind has always been why the Rams left to begin with. I think that the NFL needs to do more to keep teams where they are, barring something really extraordinary happening.
I'd be all in favor of St Louis getting an expansion team in the near future, but it was just weird that the Rams were ever anywhere but Los Angeles.
You're not giving taxpayer money to anyone unless you want to consider governement services rendered but that applies to all tax exempt organizations. A religious organization is no different than any other tax exempt organization as far as the law is concerned. It doesn't even involve separation of church and state, you can't single out churches.
If you were too remove the tax exempt status of all non profits that's where it gets interesting because the church could argue separation of church and state.
Down by us we have at least one church that has a compound; possibly two or more. I just don't think anybody should be refused or kept out if we are giving away our dollars. Which is basically what any tax exempt status does. As far as separation of church and state; isn't that what you get when government does not support religion?
I don't mean to single out churches; The idea of government redistributing our money goes against the grain. I don't like the big civic projects because there are always winners and losers on our dollar. If the projects are so great; they should be able to get the backing and support themselves.
Of course our government does have to provide us with an infrastructure and maintain that - but that can still be debatable with funds they have dumped into rail service.
If it is a sound financial investment then somebody in the private sector will do it. Why do you think these teams want government money? Because it's not a good investment.
Many teams, actually the vast majority of pro teams worldwide, build their own private stadium. (And we are talking about local government, so Constitutional restrictions on the role of government do not apply; local government can, and should, make real estate investments.)
You will pay for it one way or the other. Any tax on business is folded into the cost of the product.
And that might (shudder!) cut down those exorbitant executive bonuses.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
