Essay Tax-Subsidized Sports Stadiums
While citizens complain of the extraordinary incomes of owners of professional sports teams and the salaries of sports players, most cities and states throughout the nation continue to negotiate costly deals to keep professional sports teams. Usually these deals involve taxpayer financed stadiums, but they also involve other benefits for the teams–nearly all of which are financed directly or indirectly by the taxpayers.
This research examines whether such tax-subsidized sports stadiums and team benefits are worth the investment. It is argued that in most situations such investments amount to nothing more than “welfare for the rich” and that the public rarely gets much return on its investment and, in fact, loses out in the deal.
A welfare system…