Here's something you might be interested in.
David Cay Johnston, New York Times tax reporter, is out with an eye-opening book, "Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill)." The book quotes Neil deMause of Fieldofschemes.com saying that government spends $2 billion a year subsidizing pro stadiums. Then the book quotes Forbes saying that pro football, baseball, basketball and hockey had revenues of $16.7 billion in 2006, and $1.7 billion in operating income. Hence, he concludes that pro sports' entire profits come from taxpayers. It's not quite as simple as that, says deMause, but he agrees that the pro sports business is no longer about selling a product to fans; it's about using that product "to extort cash from taxpayers."
David Cay Johnston, New York Times tax reporter, is out with an eye-opening book, "Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill)." The book quotes Neil deMause of Fieldofschemes.com saying that government spends $2 billion a year subsidizing pro stadiums. Then the book quotes Forbes saying that pro football, baseball, basketball and hockey had revenues of $16.7 billion in 2006, and $1.7 billion in operating income. Hence, he concludes that pro sports' entire profits come from taxpayers. It's not quite as simple as that, says deMause, but he agrees that the pro sports business is no longer about selling a product to fans; it's about using that product "to extort cash from taxpayers."