Posted on 01/26/2015 8:07:08 AM PST by Sideshow Bob
Team will become the Seattle Bucks faster than you can say “John Galt”.
It is a hypothecated tax http://en.wikipedia.org/wiki/Hypothecated_tax
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There are no increased revenues. It is a diversion of current tax revenues from the general fund.
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The alternative if the arena is not built and the Bucks leave town, then there would be no increase in revenues and probably a substantial decrease.
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Almost correct. If the NBA forces the Bucks to move in the future, there would be no NBA incomes to tax in Wisconsin the future.
The new billionaire hedge fund NY-based owners of the Bucks are claiming an inability or preference to not pay for a new Milwaukee arena themselves. If the construction of a new Milwaukee arena is not in process by 2017, the NBA can choose to buy the Bucks from the current owners for $50 million more than their 2014 purchase price.
It remains to be seen if some other city would be stupid enough to pay for a venue with the enhanced amenities desired by the NBA.
There is nothing wrong with the Bradley Center. The building is in good condition. It remains one of the best facilities for viewing hockey in the entire country. It has adequate site lines for basketball. It has nice luxury boxes which the Bradley Center already has difficulty selling.
The NBA wants to be provided with venues that have additional shopping and restaurant opportunities to generate greater income opportunities for their team owners.
Why should taxpayers be forced to pay for posh, pimped-out palaces for NBA owners who have a poor economic model for generating income? If the NBA owners want to generate income for themselves, pay for the improvements themselves!!!
There should be no public funding of sports arena’s, tell these billionaire owners to build their own crap
Hasn’t Walker already endorsed illegal immigration and bashed those who want conservatives to run against RINO leaders?
Walker doesn’t even show up on my Presidential list.
and if that Indian tribe wants a casino, they should build it on their sovereign land! or do they have any?
That is where the players get their income, so that would go up too.
So I assume the player income tax went into the general fund? And now those revenues will go to the sports arena? So what gets cut in the mean time?
It's the American way. Never pay for anything you can get the government to pay for.
Can’t they buy jocks online from other states?
Yeah, and it’s sexist too.
Just me, but turning down a casino proposal and going for a tax that will make NBA players pay for their own stadium is a good thing.
So why all the fuss?
Isn’t it about time those millionaires who play the game pay?
Instead of the common Joe on the street who already pay at the gate to watch those millionaire leftists play?
And since when did Free-republic become full of conservatives who think casinos are good anyway.
As I asked, “Am I missing something here?”
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Yes, you are missing something.
The NBA players WILL NEVER pay for their own stadium. Either their patrons or taxpayers will pay for the stadiums.
If you can't discern the difference between government subsidizing NBA millionaires' and billionaires' construction of a stadium that will not generate any new tax revenues VERSUS allowing private investors to pay entirely for the construction of a casino and entertainment venue which will generate new tax revenues, then maybe you are not as conservative as you think.
The Menomonee Tribe was simply asking Gov. Walker for PERMISSION to build a casino, hotel and entertainment venue that does not currently exist in that area. They were offering to indemnify the State from competitor's potential legal claims, develop thousands of short-term construction jobs and long-term service jobs and PAY the State a favorable operation payment.
The Bucks want the State to pay $100 million to replace an adequate facility and subsidize the creation of new Bucks-owned shops and restaurants that would compete with already existing adjacent shops and restaurants.
As for whether FReepers think casinos are a good idea...
Maybe you are more concerned with whether it is moral for a government to promote the expansion of gambling. That train has already left the station.
Indian casino gambling already exists in Wisconsin. The state lottery already exists in Wisconsin. They cannot be reversed.
I don't think the creation of a Kenosha casino would have generating any new gaming revenue from Wisconsin residents. However, the construction of a Kenosha casino would have drawn heavily from the nearby Illinois and Chicago population.
I viewed the Kenosha casino as a huge opportunity to increase Wisconsin tourism. I'm less troubled by the "morality" of it. Besides, it would be huge payback for decades of Wisconsin residents' Illinois Tollway payments.
The Menomonee Tribe does have sovereign land. They were willing to buy the more strategically located Kenosha site and convert it to sovereign land. The only loss to state and local government bodies would have been the site's removal from property tax rolls in exchange for healthy annual revenue payments.
So this is not a new tax, but simply specifying where an existing tax will be used.
Will any general public revenue be used to build the new arena?
That is racist since there are so many black players. /sarcasm
Anybody who believes that a tax on NBA salaries is anything more than populist trickery has a deflated basketball. It just gives cover for wasting tax payer money on a stadium, while trying to buy a touch of goodwill from the union leadership and political donors who will get rich off the spending.
Let the team build their own stadium, like all businesses should. Keep the government out of it.
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And since I am not a Bucks customer or fan now, do not frequent bars and the restaurants nearby the Bradley Center now, etc. the impact of any future movement of the franchise would be minimal to me individually...if they actually move.
I think the NBA's poor business model and shrinking domestic market will make other community's more fragile franchises more susceptible to being relocated.
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And that's great if that is what the local community wants. But I will note that San Antonio taxed for and built a new football facility that did not previously exist. The Bradley Center already exists. There is no "need" for a new arena. The other major tenants of the Bradley Center - Marquette University & the Milwaukee Admirals hockey - franchise are entirely happy with the facility.
If government leaders and their constituent taxpayers Milwaukee County or the City of Milwaukee want to subsidize a new arena for NBA millionaires and billionaires, great. Go for it.
But I didn't help elect a Republican state Assembly, state Senate and governor so that State of Wisconsin tax money is used to benefit liberal Democrat NBA players, NY-based liberal Democrat owners and liberal Democrat Milwaukee politicians.
No one knows yet. It will be interesting to see next week what Scott Walker proposes for cuts to balance out the reduction of state tax revenue that will instead be diverted to the arena construction.
Walker doesn’t even show up on my Presidential list.
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As I said above, Scott is a friend. He has NOT endorsed illegal immigration, but hasn't been as vigorous as I would prefer in combatting it. I don't believe he has bashed conservatives, but he hasn't been as vigorous as I would prefer in bashing RINO leaders.
Until last Friday, part of me has wanted to be selfish in not sharing Gov. Walker and his job performance with the rest of the country. Beyond that, I actually would much prefer Ted Cruz to Walker for President in 2016. Walker is probably #2 on my list, but is in danger of falling precipitously on my presidential list if last Friday is any kind of sign of a more moderate Presidential campaign.
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