Georgia Dome Implosion
Posted on 01/14/2018 5:43:51 PM PST by jazusamo
Nevada taxpayers shelled out $750 million to build a stadium for the soon-to-be Las Vegas Raiders — and the deal may prevent the state from being able to recoup that money by imposing new taxes on the NFL team.
An unusual provision in the Raiders agreement with the state allows the team, currently playing its final seasons in Oakland, to break the lease and look for another home if Nevada attempts to impose new taxes over the next three decades on the team, stadium, fans or players. That includes visiting teams and fans as well.
The provision applies to any “targeted tax” aimed at collecting revenue specifically from players or fans. It would not protect the team or its fans from any new taxes applied generally on businesses or individuals across Nevada, however.
Nevada could impose a tax on all sports tickets but couldn’t impose one specifically on stadiums larger than 40,000 seats, because it would only levied against Raiders’ stadium.
A separate agreement from the master lease, the targeted tax provision, is part of a series of papers that still needs approval by NFL owners and the Las Vegas Stadium Authority before any deal is approved. A final vote is scheduled for March.
Michael Leeds, a Temple University economist who has argued against the use of taxpayer funds to build sports stadiums, said the targeted tax provision goes beyond anything he has ever seen.
(Excerpt) Read more at washingtontimes.com ...
When are they going to put slot machines in the concourses?
Burn it!!!
We need to put an end to these stadium shakedowns.
Let the billionaires build their own damn sports palaces.
24 hour town, legal gambling, legal prostitution, plenty of drugs and shady activity, the Raiders bringing in 53 multi millionaires with their posses and entourages ...what could go wrong?
30 years? In Georgia, they help them build a new stadium after 20 years.
There wasn't room for 100 inch televisions in the luxury boxes in the Georgia Dome so it had to be blown up. Or something like that.
An unusual provision in the Raiders agreement with the state allows the team, currently playing its final seasons in Oakland, to break the lease and look for another home if Nevada attempts to impose new taxes over the next three decades on the team, stadium, fans or players. That includes visiting teams and fans as well. The provision applies to any “targeted tax” aimed at collecting revenue specifically from players or fans. It would not protect the team or its fans from any new taxes applied generally on businesses or individuals across Nevada, however. Nevada could impose a tax on all sports tickets but couldn’t impose one specifically on stadiums larger than 40,000 seats, because it would only levied against Raiders’ stadium. A separate agreement from the master lease, the targeted tax provision, is part of a series of papers that still needs approval by NFL owners and the Las Vegas Stadium Authority before any deal is approved.
Bread and CIRCUSES.
Ancient Rome had nothing on these modern day Caesars and multi-millionaire gladiators.
There the peasants got their bread and circuses ‘free’.
Here, the peasants are robbed twice for it. The first time at the point of the Caesar’s tax collector’s guns, and again at the gate.
(At least the second time is voluntary, and the idiot sportsfans onlyy their addiction to blame.
Prostitution isn’t legal in Vegas.
Top 10 Las Vegas Casino Implosions
And major sports stadiums often don't pay for themselves during their useful life. Case in point the Seattle Kingdome, which still had about 25% of its mortgage balance unpaid when it was razed.
Not saying there aren't economic benefits to civic projects like this that are hard to measure and hard to sell to a populace that probably won't think the whole thing through, but that doesn't relieve the government of the responsibility to honestly account for how they are being paid for, especially since the benefits will lag behind the costs several years.
Suckers...
Two years now. But the Orange Crush was a good time.
I know that LV is a big city, but is it enough to support the Raiders?
They have no connection to the town, except for gamblers.
Can a team be supported fan-wise, with out of towners?
My guess is no.
They'd be fair weather fans at best.
And I'm seriously concerned about the Mob putting pressure on players, as they are in close proximity.
"Da Boss would likes it if you would drop dis pass right now. Or dere could be a problem for youse and your family."
Half of the games will be played at home, which means visiting teams’ fans have the option of booking their Vegas stays to be able to watch them play.
What a Suckers Bet that deal was.The people of the State pay the bill for thirty years while the team keeps the proceeds.
Screw football and the teams that depend on the taxpayers to subsidize them.
Picking winners and losers. Taxpayers ... losers.
That’s the thing everyone misses, most of the tax money collected here in Las Vegas are paid by people from other states and countries who come here to party. My state and local taxes are a pittance. No income taxes, very low property tax...and pretty high sales taxes (except none on food, most sales taxes collected are also from visitors). As a local, I’m paying very little overall in taxes...and hardly anything at all for this stadium deal.
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