True March Madness: $2.7B in Taxpayer Subsidies
March Madness showcases some of the best athletes and most exciting games in college sports. Unfortunately, the Men's NCAA Basketball Tournament also highlights the worst in wasteful government spending, according to this press release from the Taxpayers Protection Alliance (TPA).
The taxpayer watchdog group found that all 13 arenas hosting games for this year's tournament have received millions of dollars from local, state and federal taxpayers, totaling to a whopping $2.7 billion.
Here's an article by Taxpayer Protection Alliance senior fellow Drew Johnson about how the venues hosting March Madness games are costing taxpayers billions of dollars in handouts, with the conclusion that:
"Given the $2.7 billion in tax money used to subsidize NCAA tournament venues, “March Madness” may soon have a whole new meaning for taxpayers."
"Given the $2.7 billion in tax money used to subsidize NCAA tournament venues, “March Madness” may soon have a whole new meaning for taxpayers."
13 Comments:
OK, I've got the final bracket figured out for March Madness arenas.
The 35% bracket, where 10% of taxpayers pay 70% of the taxes.
"The 35% bracket, where 10% of taxpayers pay 70% of the taxes"...
Now that's funny (also sad too) buddy...
Bravo sir...
blame the taxpayers...
voters were too busy watching games to notice they were being ripped off...
This is an idiotic comment. The NCAA did not ask for any subsidy and is not receiving any subsidy. The municipalities and states gave money to build stadiums for their professional teams. Now that the stadiums have been built it makes sense to get some of the money back by letting the NCAA hold its tournament in them.
The municipalities and states gave money to build stadiums for their professional teams.
That's a subsidy.
Not sure why stadium subsidies are that objectionable. States & municipalities often spend money (to say nothing of lost opportunity revenues) for projects that have direct benefits to only a relative few -- municipal park systems for example.
What would be the tax revenue if NYC decided to develop the southern half of all that wasted space in Central Park??
As a former lawyer, this March Madness subsidy gives me an idea.
Since lawyers perform important services to the community, why not have taxpayers subsidize their downtown office space at the same percentage donated to arenas?
This would encourage more lawyers and their support staffs to move to downtown areas and would generate client traffic. All of this would result in greater parking revenue, restaurant revenue, increased shopping and hotel business for out of town lawyers and clients visiting the firms.
Of course, the larger law firms and legislators would be provided with free parking to better enable them to serve the increase in clients.
There should be no taxpayer referendums because taxpayers simply don't understand the importance of lawyers to the communities they serve.
And that brings up another thought ... why not provide accountants and computer programmers with the same taxpayer subsidies? And what about engineers and retail shop owners?
Hmmm. Food for thought.
Dwight Oglesby
PS: And let's not forget government workers, including city council member, legislators, and their union representatives who work in downtown areas. Oh yes, inner city school teachers, doctors and nurses who work in downtown areas are also deserving of taxpayer payments.
And think of the increased revenue this taxpayer subsidy would generate for the light rail systems now currently under water financially!
Oh yes, think about the law enforcement officers who live in the suburbs. Surely we should pay them to come into the city.
And think about tourists! Let's have out of town residents subsidize them even more
so that they will be drawn into town. Some of them might buy tickets to arena events, driving the ticket prices even higher!
I think we are really on to something!
Dwight Oglesby
Ed R: "Not sure why stadium subsidies are that objectionable.
States & municipalities often spend money (to say nothing of lost opportunity revenues) for projects that have direct benefits to only a relative few -- municipal park systems for example."
It appears that you just answered your own question. :)
The reason subsidies are objectionanable, is that taxpayers are forced to pay for things they may not agree with, and may have no use for.
FactsAreFriendly,
I think you're on to something. Why should taxpayer money be spent only on things taxpayers want, when powerful commercial interests are so much more generous with campaign donations.
The same goes for college bowel games as well. On the college football side of things, the truth is a lot of schools, save for the larger ones with the prolific programs, actually lose money on the sport.
It seems like American society (and by this I also mean taxpayers) seem to put a high emphasis on sports over important priorities. It's amazing how a broken city like Detroit is more than perfectly happy to construct state of the art arenas like Ford Field.
When we highly prioritize sports, and other developing countries prioritize math & science, you wonder where future paths will lead...
StVIS: "The same goes for college bowel games as well."
LOL!
Did you really mean to write that? This must be something new since I went to school. :)
Ron H.,
I take it you're laughing at the spelling of "bowl". Yeah, I was tired when I wrote that late last night. My bad.
StVIS: "
I take it you're laughing at the spelling of "bowl". Yeah, I was tired when I wrote that late last night. My bad."
I thought it must be something like that. When I first read it, my imagination just spiraled out of control trying to imagine what a college bowel game could be. :)
Post a Comment
<< Home