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Americans For Prosperity

Taxpayers Get Sacked at the Big Game

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Unread 02.01.19, 08:03 AM
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Taxpayers Get Sacked at the Big Game

02.01.19 07:00 AM

No matter who wins the Big Game this coming weekend, American taxpayers have already lost. That’s because it doesn’t matter the sport – baseball, basketball, hockey or football – when teams consider setting up shop in a town, taxpayers are all too often forced to shell out hundreds of millions in direct subsidies and tax breaks to help them build stadiums and arenas. And it’s not just new facilities; cities will even spend taxpayer money to refurbish old ones to prevent an existing team from leaving. Special deals from the government – like stadium subsidies – are part of a harmful practice known as corporate welfare. Of course, governments always justify using taxpayer money to benefit private sports teams by claiming it will be a good investment and have a ripple effect through the entire economy. But these investments are typically a bust. The town takes on massive debt but receives no significant benefits from the stadium’s presence. Economists note that the benefits just aren’t there. Taxpayers, meanwhile, get sacked. Atlanta made a $700 million investment in its Mercedes-Benz Stadium, where this weekend’s game will be played. For their hard work, Atlanta taxpayers were*rewarded*with a 73,000-pound falcon sculpture – and […]

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