Captain Capitalism’s commenters are tearing the Vikings’ plan to extract $650,000,000 from the public a new one from a fiscally conservative perspective.
Ok, you can make the argument that gov’t subsidizing the cost of a hockey arena or a basketball arena could bring economic benefit to a community say 15k fans downtown at 30-40 games a season.
You could also make the argument that government assistance for a baseball team at 81 dates at 40K in attendance can bring economic benefit as well.
I don’t agree with those positions, but you can at least make the argument and maybe even defend it.
But with a $600 million subsidy for a much more expensive stadium, with the team getting all the revenue generated by sky boxes, naming rights and concessions, etc. and drawing 45,000 for only 10 dates a year, there is absolutely no way you can make that argument of economic growth – it is totally indefensible.
This is why I don’t watch the NFL – their business model is based on raping the taxpayer and holding them hostage by threatening to move the team to LA or some other place.
It is simple extortion – nothing more, nothing less.
Remember when Minnesota’s Republicans were fiscally conservative? Oh, that was back when they were cutting money for schools, universities, health care and transportation.
Hmmm, paying money to help a business buy something it cannot currently buy, but could certainly benefit from and then paying back some to the lending entity…
This sounds like a job for investment banks who will require REAL interest payments, not governments that give money out for free.
If the idea isn’t economical in the private sector, it certainly won’t fly in the public sector.
Interesting concept, eh? If it makes financial sense, people with financial sense would support it with their own money. However, since it doesn’t, Wilf wants to socialize the costs while privatizing the profits.
This is insanity! You Yanks are trillions of dollars in debt. This is exactly the type of unnecessary spending, that needs to be cut.
Giving tax dollars to millionaire sport team owners, and in a game which is played by millionaire athletes, is madness.
How about fixing the roads and bridges, before spending on luxury stadiums. I seem to rememeber, a bridge recently collasping in the Minnesotoa area. Giving tax money to sports teams, is bad economics and immoral.
The Vikings business likes to say that wherever you go, when people here that you’re from Minnesota, the first thing they’ll mention to you is the Vikings. But, we are also known as:
– The state that shut down.
– The state where a major bridge collapsed.
In light of those two, we’ll look even more stupid if we’re fiscally irresponsible enough to provide Wilfare to an NFL team while we still have serious financial issues to solve. Like, giving schools the money we borrowed from them to balance the budget.