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


0007776

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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.
 

bradl

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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
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.
 

0007776

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WHY should there be any tax increases ?
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.
 

noodlemanc

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Mar 25, 2010
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Oh, I dunno.. Our deficit? Our national debt? The wars we still have to pay for, as well as Medicare Part D?

BL.

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?
 

bradl

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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.
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.
 

Mousse

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Apr 7, 2008
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I completely support this. How can anyone defend the NFL's tax exempt status at this point?
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:
 

rdowns

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Jul 11, 2003
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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:

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

lannister80

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Apr 7, 2009
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When in doubt blame the South *rolls eyes* You obviously never been to the Northern States....
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.
 

bradl

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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.
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.
 

Southern Dad

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

bradl

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If you consider Ohio to be a borderline southern state, what do you consider the North? New England and Michigan?
IIRC, It was either Ohio or Kentucky that was a border state during the Civil war; fought for the Union, but supported slavery.

BL.
 

LethalWolfe

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Jan 11, 2002
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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.
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.

Cowboys owner Jerry Jones declined to reveal the financial details, including how many years the contract covers. But one sports marketing expert estimated that the deal is worth up to $18 million a year.
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Arlington, which owns the stadium, will receive up to $500,000 a year from the deal. Mayor Robert Cluck said that money will be used to pay down the city’s portion of the stadium debt more rapidly.
Read more here: http://www.star-telegram.com/2013/07/25/5028304/cowboys-say-they-will-make-major.html#storylink=cpy
 

Southern Dad

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