N.J Senator Cory Booker aims to strip pro leagues of tax exempt status

Discussion in 'Politics, Religion, Social Issues' started by capathy21, Sep 16, 2014.

  1. capathy21 macrumors 65816

    capathy21

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    #1
  2. Technarchy macrumors 603

    Technarchy

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  3. burgundyyears macrumors 6502

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    #3
    Heh, while we're wishing for ponies, let's get rid of the antitrust exemptions of pro sports as well.
     
  4. bradl macrumors 68040

    bradl

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    #4
    Elaborate.

    BL.
     
  5. jkcerda Suspended

    jkcerda

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    #5
    You won't strip the rich of their tax breaks. Should it happen? YES. It BS that tax payers are left holding the bag for creation of new stadiums among a few things
     
  6. mrkramer macrumors 603

    mrkramer

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    #6
    There is no reason for sports leagues to be tax exempt, but I don't see this going much of anywhere as the Republicans won't agree with a tax increase and if they do then they'll offset the benefit with tax cuts elsewhere.
     
  7. jkcerda Suspended

    jkcerda

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    #7
    WHY should there be any tax increases ?
     
  8. bradl macrumors 68040

    bradl

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    No argument about your last sentence, and I totally agree that it should happen. But for someone to simply say "never will", I think we'd like to hear some justification as to why it should never happen.

    BL.
     
  9. mrkramer macrumors 603

    mrkramer

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    Because we've cut so much already that we have huge deficits, and the only unnecessary spending left to cut is the military which that will never happen so we need higher taxes to help cut the deficit.
     
  10. bradl macrumors 68040

    bradl

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    #10
    Oh, I dunno.. Our deficit? Our national debt? The wars we still have to pay for, as well as Medicare Part D?

    BL.
     
  11. noodlemanc macrumors regular

    noodlemanc

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    #11

    In the U.S money is CREATED out of debt, though. So how is it possible to pay it off when there is more debt than money in the monetary system?
     
  12. Southern Dad macrumors 65816

    Southern Dad

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    #12
    The tax exempt status of the team has nothing to do with why the taxpayers pay for the stadium. The venues are typically owned by the city and leased to the teams.
     
  13. bradl macrumors 68040

    bradl

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    #13
    Yet companies like Levi's, FedEx, Amway, American Airlines, and the like make money like no tomorrow on the naming rights to said stadium.

    BL.
     
  14. Mousse macrumors 68000

    Mousse

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    #14
    Football is a Religion...well at least in the Southern States.:D

    I did not know the NFL was tax exempt.:eek: Well, if they use the loopholes, they'll still end up paying nothing.:mad: It makes me madder than hail when I (a 5 digit wage earner) pays more taxes than a multi-billion dollar industry.:mad::mad::mad:
     
  15. rdowns macrumors Penryn

    rdowns

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    #15

    The NFL league office is exempt, not NFL teams. Fear not, local and state taxpayers subsidize the billionaire owners quite a bit.
     
  16. oddnendz macrumors 6502

    oddnendz

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    When in doubt blame the South *rolls eyes* You obviously never been to the Northern States....
     
  17. Southern Dad macrumors 65816

    Southern Dad

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    #17
    The owner of the venue gets the revenue for the naming rights of a stadium, not the team. Which in most cases is the city.
     
  18. FreemanW macrumors 6502

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    #18
    . . . . . aaaaand this will happen right after Churches have their tax exempt status justifiably stripped because of their flagrant partisan political participation in the electoral process.
     
  19. lannister80 macrumors 6502

    lannister80

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    #19
    Sure, people in the north love NFL, and to a greatly lesser degree college football.

    But no one gives a **** about high school football up here, down south it's more important than College/Pro.

    And down south, people LIVE and BREATHE college/high school football. You'd never see crap like you do in Alabama up here, even in pro sports.
     
  20. bradl macrumors 68040

    bradl

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    #20
    Not for nothing, but a certain rape/attempted rape case at a high school in Ohio may disagree.

    Granted, Ohio skates the Mason-Dixon line, but is above the Missouri Compromise line.

    BL.
     
  21. Southern Dad macrumors 65816

    Southern Dad

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    #21
    If you consider Ohio to be a borderline southern state, what do you consider the North? New England and Michigan?
     
  22. aaronvan Suspended

    aaronvan

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    #22
    WTF? Are you telling me pro sports pay zero taxes? Is that just NJ?
     
  23. bradl macrumors 68040

    bradl

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    #23
    IIRC, It was either Ohio or Kentucky that was a border state during the Civil war; fought for the Union, but supported slavery.

    BL.
     
  24. LethalWolfe macrumors G3

    LethalWolfe

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    #24
    From a quick Google it seems like naming revenue is split and amount of the split depends on the individual deals. For example, the Cowboys sold the naming rights of their new stadium to AT&T and Arlington (the city that owns the stadium) get's a cool 5% cut from that deal.

    Read more here: http://www.star-telegram.com/2013/07/25/5028304/cowboys-say-they-will-make-major.html#storylink=cpy
     
  25. Southern Dad macrumors 65816

    Southern Dad

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    #25
    Although the city of Arlington owns the stadium, the city only paid $325M of the $1.3B in construction costs.
     

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