NFL banks billions of dollars on the backs of taxpayers and small businesses

 

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By Stephen Frank,  California Political News and Views

Thanks to Federal tax credits and the vanity of local governments, the NFL—No Fun League—is making its billionaire owners even wealthier.  Why pay or stadiums when the hicks in Kansas City will pay for it.  Need a new mansion—get the Feds to give tax credits on new stadiums, so between the credits and the local politicians, you have the money to get a wonderful box at the stadium and a mansion to laugh about the fools.

“Taxpayers in Hamilton County, Ohio, where Cincinnati is located, feared something greater than wounded civic pride if their football team left. They worried that the Bengals’ departure would spur an economic crisis throughout the region. A University of Cincinnati study released at the time estimated that the Bengals added $77 million to the local economy.

Hamilton County residents could avert disaster, however. All they needed to do was vote for a modest half-percent sales tax increase. The tax increase and municipal bonds would cover the estimated $287 million needed to build the Bengals’ new home.

Residents overwhelmingly approved the tax, and the Paul Brown Stadium for the Bengals opened in 2000 after cost overruns pushed the construction tab to nearly $450 million.”

Every loaf of bread bought should remind the people of Cincinnati they are economic illiterates.  Worse the rich abused the poor and middle class—and the Tram is now worth four times what it was worth before the sales tax increase—with all the profits going to the billionaires and all the payments going to the people.

Related article: NFL banks billions of dollars on the backs of taxpayers and small businesses


Stephen Frank: Is the the publisher and editor of the California Political News and Views.  Mr. Frank speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows and is a full time political consultant. http://capoliticalnews.com/

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