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If he was defrauding public funds, that is one thing. Since this is all private, and much of it from outside of this state, why should you care?
He's defrauding the people who give him money to see this travesty. Are you cool with that? Is there no limit to the apologizing that can be done in the name of the Lard?
Location: In a little house on the prairie - literally
10,202 posts, read 7,922,771 times
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Quote:
Originally Posted by Stymie13
Their choice. Their job. Why should you care?
The state surely doesn't and the munie bonds are unsecured so 'taxpayers' are out NADA.
Again, not a single drop of KY funds from Frankfort were sent to this. And yes, I've read about the funding. Unsecured munies are just that.... it's called an unfunded liability that never has to be paid.
Except if the thing goes bottoms up, the taxpayers of Williamstown are stuck with the debt. You are missing that little part. What about the $18 million that came from the State in the form of tax breaks?
The tax break was from funds received by the fed to improve a horrible section of I-75, one of the major corridors. That is lumped into the 'tax break' argument from the law-suit.
What you are trying to say:
The tax break allows approved tourism sites to recover as much as 25 percent of their investment through a rebate of state sales taxes paid by visitors.
What is trying to be contended is this is some special exemption. That clause about approved tourism sites is part of KRS Statues (to promote tourism.... kind of like the Bourbon Trail that Makers and Beam get for their tours in Bardstown, etc...).
Except if the thing goes bottoms up, the taxpayers of Williamstown are stuck with the debt. You are missing that little part. What about the $18 million that came from the State in the form of tax breaks?
It didn't... 11 million is funds from the Federal for improvements along I-75 that pass the silly thing and are desperately needed because the Interstate is a pos.
Highlights are very misleading when one doesn't know State Statues.
The rest is a tax break for ANY APPROVED TOURISM SITE.
He's defrauding the people who give him money to see this travesty. Are you cool with that? Is there no limit to the apologizing that can be done in the name of the Lard?
So he took their money and went off on a lascivious vacation? Did he? No, he spent it exactly like he said he would. He can't read the future. How is it fraud because he is not immediately getting huge attendance numbers? It is just sickening how desperate people want to tear down Christians. Wow.
Except if the thing goes bottoms up, the taxpayers of Williamstown are stuck with the debt. You are missing that little part. What about the $18 million that came from the State in the form of tax breaks?
Well much of this is in the form of sales tax relief up to 25% of the project cost, where the state refrains from collecting sales tax they would normally collect assuming that sales actually occur. If on the other hand the Ark Encounter is a bust, there's no sales to tax anyway.
It's not clear to me if Ark Encounter would have just added the tax to the admissions anyway, or if they would have had to eat it (or raise the ticket price to compensate).
At any rate the state doesn't appear, from this story, to have ponied up $18 million in advance, and if the Ark Encounter isn't successful, they wouldn't have been owed the tax anyway, or at least not most of it. The county and the city of Williamsburg made separate deals and that may have been more straight from the coffers. Also the highway department built an $11 million freeway interchange to accommodate alleged traffic. So I'm not saying there are no public monies in play ... just that not all of it is advance money given unconditionally.
So he took their money and went off on a lascivious vacation? Did he? No, he spent it exactly like he said he would. He can't read the future. How is it fraud because he is not immediately getting huge attendance numbers? It is just sickening how desperate people want to tear down Christians. Wow.
I'm talking about the people who pay to see this joke.
The 'debate' is about between out of states arguing over the religious stuff... the tax break is about TOURISM.
would behoove to know the law, vs one's own preconceived opinion.
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