The NFL - Welfare Queens?

[CatMan72]

The state collects money based on the 8 game played here every year. Lets say each team paid out $125 million in salaries (the cap is different then actual salary but for poops and giggles lets run with it) with 2 teams yes you have to pay where you play that is $250M x 7,75% income tax rate is $19m per year...in 2012 total income tax in NC was $10B

 

They account for .02% of the yearly income tax in the state.

 

So if the city/state lend the team 100 mil over a 5 year period it basically pays for itself with the income tax the players pay alone, then you add in sales tax collected on food/beverages/merchandise etc... 

[CatMan72]

It's not about the players and coaches, it's about billionare owners who not only refuse to pay the appropriate taxes on their franchises but have the audacity to TAKE money from their respective cities and states.

 

Well, regardless of my own personal finances if I was responsible for 600 million every year in revenue to the city/state I wouldn't feel so bad about asking for 150 million of it back to enhance my stadium. 

[intangiblejohnny]

So if the city/state lend the team 100 mil over a 5 year period it basically pays for itself with the income tax the players pay alone, then you add in sales tax collected on food/beverages/merchandise etc...

IMO That doen't excuse the fact that a multi billion dollar league refuses to pay taxes that would dramatically improve the city.

I'm not trying to be a jerk, just trying to have some civil discourse.

[intangiblejohnny]

Well, regardless of my own personal finances if I was responsible for 600 million every year in revenue to the city/state I wouldn't feel so bad about asking for 150 million of it back to enhance my stadium.

By that logic it seems that you're saying "the more money a business makes the less they should be taxed.

[CatMan72]

By that logic it seems that you're saying "the more money a business makes the less they should be taxed.

 

The revenue I'm talking about is the revenue received by the city/state as the result of my product on a yearly basis, so from the states perspective a 600 mil dollar yearly return on a one-time 150 mil dollar investment isn't a bad deal, right? 

[intangiblejohnny]

The revenue I'm talking about is the revenue received by the city/state as the result of my product on a yearly basis, so from the states perspective a 600 mil dollar yearly return on a one-time 150 mil dollar investment isn't a bad deal, right?

You're right, that's an insane return. But surely you can understand my frustration at the uber wealthy claiming nonprofit status in a business that is one of the most profitable in the country.

Outside of the banking industry of course.

Considering the needs we have in road maintenance, school supplies (including text books), police departments (most of which cannot afford cold case detectives anymore) and much needed tax relief on the middle and lower classes, I don't think it would hurt for the obscenely wealthy to pitch in a little more.

Kind of like after the New Deal when we had a large thriving middle class and low poverty rates.

[thunderraiden]

http://reason.com/reasontv/2014/01/31/why-no-smart-city-would-want-the-nfl

 

With schools crumbling and roads and bridges falling apart, is this really what we want to shovel our tax dollars into? And why should we in the first place, when they're making record profits?

 

Umm, the Top 1% in America is a welfare queen. Ask the Walton family, richest family in the world, how much money food stamps and section 8 allow them to exploit from their employees.

[MadHatter]

It's extremely well established Economics that sports teams and expensive stadiums are a sizable net loss for cities. You're basically spending a dollar to make 20 cents.

The Olympics are the worst, of course, but regular sports teams are bad too.

Link to study please.

Not about the Olympics. That I have seen.

[pstall]

It's extremely well established Economics that sports teams and expensive stadiums are a sizable net loss for cities. You're basically spending a dollar to make 20 cents.

 

The Olympics are the worst, of course, but regular sports teams are bad too.

 

we don't see much eye to eye but i'm totally with you on this.

 

i have railed for years at this and posted i don't know how many white papers about the misnomer of the revenue pro sports teams brings.

 

i suggested many spend lots of time at this site.

 

http://thesportseconomist.com/

[SnowPanther]

You can look forward to games being pay-for-view in the near future. 

 

Unless they break their current TV contracts, not going to happen.

[pstall]

Link to study please.

Not about the Olympics. That I have seen.

 

Atlanta may be the rare exception of a boost from the Olympics but it's a Chamber of Commerce kind of thing. Window dressing to puff out your chest at the next National Mayor's convention.

 

check out the link i just posted. search olympic impact.

 

i have gone to this guys site for years and he is almost always an expert witness in anti trust issues or when a economic impact study is done and he is THAT guy to blow it all up.

[Panthro]

Well, regardless of my own personal finances if I was responsible for 600 million every year in revenue to the city/state I wouldn't feel so bad about asking for 150 million of it back to enhance my stadium. 

 

Unless i can read this study and actually look at the indirect revenue they are claiming I am not going to believe it. Sorry I build business cases everyday and use numbers to make it look like my poo pays for itself yesterday. It's like me funding a study to prove how awesome I am. Guess what...I am

 

 

[Delhommey]

I don't know about all that, but how much do you figure the Panthers players and coaching staff pay the state in income taxes each year?

I'd guesstimate 6-7 million with the proposed stadium improvements.

Without those improvements? 6-7 million.

[Panthro]

I'd guesstimate 6-7 million with the proposed stadium improvements.

Without those improvements? 6-7 million.

 

Now go include the other teams taxes as well. It makes it a no brainer....raise our taxes to give a billionaire money to renovate his business. Not bring a new one into town...but renovate. Mind you this business has increased in value from $206 million to 1.25 Billion