Showing posts with label Corporate Welfare. Show all posts
Showing posts with label Corporate Welfare. Show all posts

Sunday, February 15, 2015

On The Weapons-Grade Stupid In Wisconsin

The proposal from legally dubious Gov. Walker of Wisconsin to pay for a new stadium for the Milwaukee Bucks is in, and in any just or sane world it would provoke hysterical laughter. In so many words, it calls for the "athlete tax" - income taxes from pro athletes plying their trade in Wisconsin - to back $220M in bond revenues that can then be handed to the Wall Street vampires who bought the team. In return, the vampires in question, who have been drumming up support for this nonsense by bestowing tiny ownership slivers in the Bucks around town, will agree to take that money and not move the team. In other words, they will take $220M in arena bonds to continue to make money by largely doing nothing.