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#004 - Subsidies in Real Estate NFL / NFL Fleecing Taxpayers
Manage episode 153594611 series 1094992
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Exposing Real Estate and Damn Near Anything Else - Episode #4 - Subsidies in Real Estate NFL / NFL Fleecing Taxpayers.
We dive deep into government subsidies of NFL real estate stadiums, tax breaks, owners not being required to pay any taxes to the counties or cities the stadiums are located. We discuss Roger Goodell compensation and how his and the other NFL executives pay flows from an organization that does not pay corporate taxes. We discuss how 29 of NFL stadiums have received public funds for construction and renovation. We hit on how although the league profits over $10 billion per year but has received well over $7 billion to build stadiums and how 12 of the teams have actually profited from the subsidies. We talk about the correlation of stadiums being built and the eventual drop in median income and increase in poverty. We touch on the state of Hawaii cutting education in the same year they vote and approve over $4 million dollars as a gift to the NFL to host the NFL pro-bowl. We talk about the actual term used by the state Louisiana - inducement payment - paid directly to Tom Benson the owner of the New Orleans Saints. We discuss the over $4 billion major networks pay for the rights to broadcast NFL games.
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