More Selected ShortsPosted: September 20, 2014
The NFL Taxpayer Hustle
The National Football League has not-for-profit status. Taxpayers provide the funds for the stadiums, and anti-trust laws do not apply to the NFL broadcast deals with the TV and radio networks. The TV deals are worth about $7 billion per year and the NFL’s total revenue is approximately $10 billion yearly. In 2011 the NFL paid $60 million to its five highest executives. These executives hope to raise the NFL’s annual revenue to $25 billion in 16 years. Most of that increase will come from increased cost to fans who subscribe to cable and satellite TV providers.
More than ½ of all federal discretionary spending goes to the US military. The government that makes this possible also wants to begin discussions on how to cut Social Security.
No Income Taxes for Corporations
Two thirds of U.S. Corporations pay no federal income taxes. The congress that allows this had to cut food stamps to the poor this year.