yay for rich guys in Wisconsin

[Michchamp]

Earlier this week I was reading about Scott Walker's plan to cut the UW system's budget by $300MM just because. Because I guess America is getting poorer so we can't afford things we've had for over a 100 years, like affordable public education, street lights, clean water, etc.

this was irritating enough on its own, but not really worth a mention among all the other awful things he's done, until now when he announced this boondoggle, whereby the owners of the Milwaukee Bucks would get a huge tax rebate in order to finance the building of a new arena:

Scott Walker proposed this week that the state of Wisconsin would give future tax dollars earned on professional basketball back to the two billionaires who own the Milwaukee Bucks. In exchange for this, the two billionaires wouldn't do shit. They'll just take the money, build a new stadium, and profit.
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Win, win for the people of Wisconsin... who own NBA teams.

 

[Michchamp]

Never make the connection: tax cuts for some = less tax revenues, equal fewer public services and expenditures, equal fewer jobs, higher tax burden on the poor & middle class. That's liberal. that's communism... And by definition, wrong.

 

[tinselwolverine]

Don't these types of deals typically happen at the municipal level?

I for one am glad that the City of Los Angeles hasn't capitulated to the NFL regarding paying any public money just to get an NFL franchise to Los Angeles.

 

[Michchamp]

Don't these types of deals typically happen at the municipal level?

I for one am glad that the City of Los Angeles hasn't capitulated to the NFL regarding paying any public money just to get an NFL franchise to Los Angeles.

usually, yeah. they usually involve some blank check written by the taxpayers to fund the construction of a new stadium, along with a litany of other incentives, since pro-sports teams will apparently not make their poor owners money, otherwise, and they would be forced to make all the local children sad by moving their team to a more deserving city if they don't get them.

in this case though, the proposal involves waiving all future taxes (assume state taxes), so presumably that's why it comes from the governor's office. the stupid, sleazy, racist governor's office.

 

[hailhail]

I'm surprised you didn't mention the pretty substantial literature out there showing these developments are never the catalysts for economic development, jobs, etc. they claim initially. It's a joke, and it won't end anytime soon.

 

[tsmith7559]

UW-M will have to tap their billion (s) endowment

 

[Michchamp]

UW-M will have to tap their billion (s) endowment

it's $2BB. I suppose they could for a couple years. then what? will Walker give them their money back? Of course not, because he just gave a tax break to the billionaires who own the Milwaukee Bucks...

 

[Gulo Blue]

When it comes to the handouts for sports arenas. I think it's a bit like supporting football at the smaller schools. They see it as a necessary lost/a form of advertising. I guess I can see a city doing it, but I don't think a state government should get involved.