Can’t seem to find any sympathy.
Big tax write off for them anyway.
Anyone know if MLB gets stimulus $.
When you have operating losses you only get a deduction. That means you only save in taxes a percentage of your losses, the percentage being equal to whatever your tax rate is for the period in which the loss is taken. So if you are in a bracket where you pay state and federal taxes at a rate of 40%, you only get 40 cents back for every dollar of your loss. In other words, even after the tax deduction you are still out 60 cents.
Seeing that taxpayers funded tens of billions of dollars worth of stadiums all across the fruited plain, yeah, they’re a *little* bit subsidized :-).
They fooled taxpayers into thinking that all of the jobs created by these stadiums justified the expense. Yes, a few new t-shirt stores, bars, and restaurants near a stadium are worth the billions of dollars pissed away on oversized playgrounds. Billions of dollars wasted on frigging game shows. It’s mind boggling.