The Logical Leftist
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Scott Walker's Corporate Welfare Problem
Posted
August 13, 2015
Views
314
Likes
13
Comments
5
Engagement
5.73%
August 13, 2015
314
13
5
5.73%
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"Wisconsin Governor and Republican presidential candidate Scott Walker will sign a bill Wednesday finalizing his controversial plan to spend $250 million in state, county and city funds — plus tens of millions more in interest and future tax breaks — on a new basketball arena for the Milwaukee Bucks.
Walker has characterized the plan to replace the existing 27-year-old NBA arena as beneficial to taxpayers, arguing that the state would lose even more money if they declined to do so. But voices from across the political spectrum are blasting the plan, saying that pouring money into private sports stadiums is a terrible investment, and arguing the team’s Wall Street billionaire owners should shoulder the burden, since they’ll be reaping the profits.
“Government shouldn’t be in the business of financing private sports stadiums,” said the Koch brothers-backed group Americans for Prosperity Wisconsin. “The current deal is based on fuzzy math, complicated accounting and millions of taxpayer dollars. Whether it comes from the state, the county, the city or other authority, these are taxpayer dollars.” The Libertarian CATO Institute added:
“Any presidential candidate who believes that taxpayer-subsidized stadiums are ‘a good deal’ shouldn’t be anywhere near the federal Treasury.”
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