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- เผยแพร่เมื่อ 7 ก.ย. 2024
- Sports stadiums get billions of dollars in taxpayer subsidies.
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Mercedes-Benz Stadium is home to the Atlanta Falcons and the site of this year's Super Bowl. Costing $1.5 billion, it's one of the most expensive stadiums in America.
The owner of Atlanta's football team, billionaire Arthur Blank, persuaded Atlanta officials to force taxpayers to pay for more than $700 million in subsidies for his stadium.
John Stossel says he understands why politicians subsidize stadiums. "They like going to games, and like telling voters, 'I brought a team to our town!'" says Stossel.
He also understands why billionaires take the money, "if politicians are giving money away, Blank's partners would consider him irresponsible not to take it."
And when it comes to already-rich people getting poorer people to fund their stadiums, Atlanta is not unusual. The Oakland Raiders got $750 million of taxpayer money to move the Raiders to Las Vegas.
"In the last two decades…taxpayers across the country have spent nearly $7 billion on [NFL] stadiums," according to a Huffington Post article.
In fact "12 teams … actually turned a profit on stadium subsidies alone," according to a Fox News report.
Politicians claim their subsidies are "an investment." They argue the economic benefits a stadium will bring a city outweigh the cost. Las Vegas Mayor Carolyn Goodman said, "It really is a benefit to us that really could spill over into something."
Stossel says this "spillover is bunk." Numerous economic studies have shown that stadiums are a bad investment for taxpayers.
One by George Mason University concludes, "Despite the many millions of dollars spent on professional sports, little or none of that money makes its way back to the taxpayers who subsidize professional sports teams." In fact "… sports teams may actually hurt economic growth."
Economist J.C. Bradbury points out that while money spent at football games is the "seen benefit, the unseen cost is that those people would otherwise be spending their money elsewhere in the local communities. At the local bar there's one less bartender. There was one less waitress hired at another restaurant. A movie theater that had one less theater full."
Stossel reminds everyone, "When politicians brag about their stadium and the many economic benefits, let's also remember all the jobs they destroyed and taxpayer money they squandered."
The views expressed in this video are solely those of John Stossel; his independent production company, Stossel Productions; and the people he interviews. The claims and opinions set forth in the video and accompanying text are not necessarily those of Reason.
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It's called corporate welfare. It's a problem in all sorts of different sectors.
He, and we, know
Fozzy Ozzy , very true. All forms of welfare are damaging. I can tolerate a cheaper loan or future taxes being kicked back to the city that hosted the the stadium but these WalMart style benefits are killing communities and stealing money from the public.
Hans , ultimately capitalism ( free markets) and democracy rely upon an informed and moral public. There’s only so much you can do in an imperfect world occupied by flawed human beings. We know government is not the solution. But faith, family, and community are promising.
CORPORATE WELFARE = FASCISM.
@@harrymills2770 that is not what fascism is. You don't just get to apply it willy nilly. If you want to recognize a fascist check out 1600 Pennsylvania Avenue.
Who are you working for John? Why are you defending the taxpayer?? Are you in the pocket of hardworking Americans?
Hahaha
lol
He's working for the Russian taxpayers of hotlanta
FULL OF WIN
@@Mistro07 The last guy I found out was working for common sense was also happily married with two kids and a house he owned. I bet John would like that life for all of us, the bastard.
In Pittsburgh we voted against new stadiums not once, but twice. We got them anyway.
And the common man doesn't get a return on investment. That's why St. Louis doesn't have a football team anymore.
Joseph Rodrigo Nor does San Diego, whose citizens still owe over 40 million for a previous stadium remodel they gave the team years ago...
And few people miss them
And still paying for it
Cry me a river. They were the LA Rams before they moved to STL. Of course I'm sure most folks were happy to see LA on the losing end of a deal since the Dodgers, Clippers, Lakers, and Rams all came there from other cities. It's all about who makes the sweetest deal for the owners, and all politicians have to use in the big money arena are public funds. Bonds, tax abatements, you name it. Of course the people whose pockets that money comes from see nothing from it other than to have a team named after and playing in their city, and how useful is that really? Can you use it as collateral? It's a mess.
I’ve been on a Stossel binge as of late
Same here. I’ve just found the guy and been so eager to learn things I’ve never knew before.
Oh you too 😂😂😂
Always
Myself included, Stossel has really changed my perspective on the world. I've changed my political stance from conservative to libertarian.
It's not their Money. They have no concept of Earn or Create, they only identify with Spend.
Remember the Brazil world cup? They were building stadiums (tax money) with millions of people in poverty
and the whole place was abandoned when it was over
The 49ers owner wanted San Francisco tax payers to pay for a new stadium then got a big no. They were able to get private investors money to build the stadium they wanted. The Ram and Chargers both play in a stadium in LA paid by a private company.
Yup, after the owner tried to get us to vote on his "convadium" lmfao. I'm glad we rejected it and kicked him out.
@@josejones4413 Good for San Fran. Sometimes even a blind dog can find a bone. :)
@@chaosgyro Actually San Diego! We have a law where special increases in taxes must be voted by the public, which is why the mayor wasn't able to shove it down out throats.
One of the few things San Francisco said no to.
Chargers owner is also an idiot because he was offered a stadium in Mission Valley but said no because he wanted his waterfront, downtown pet project. Yet the stadium in LA is neither waterfront nor downtown. His ego overpowered his critical thinking ability.
If stadiums were really such a great deal then all of the savvy businessmen who own teams would be jumping at the chance to be the first to build them themselves.
My city, El Paso, TX wants to build an arena downtown that doesn't even have a tenant. They're going on a "build it they will come" theory. The problem is that there are already two arenas at two different college stadiums, the El Paso County Coliseum as well as an abandoned minor league baseball stadium. Parking downtown is already a headache because they also built a new baseball stadium downtown.
Harry Buttwhisker - San Antonio tried that in 90s with the Alamodome. It’s so old and out dated now that no NFL team would want it.
Austin approved to build a soccer stadium meanwhile property taxes are crazy, traffic sucks ass and we have people having shootouts downtown right next to the police station. I miss old Austin when it still felt like a town and there were only like 3 murders a year as opposed to 25 - 35. Now everyone you meet is from California/seattle and housing costs are about 300,000 and up.
@@edd542 we don't learn from other's mistakes, not even our own. They took down a toll commuter lane that lost half a million dollars. And they're building another toll road. 🤔
I think that if the government. is going to give enough tax money to build a stadium. Than the stadium should be a public (not private) building.
One of the benefits I think I gained by moving to Albuquerque NM from Minneapolis MN. Here in New Mexico we have no major league teams demanding a billion dollar complex. I hope it stays this way.
Go Mariachis!
Thank You for "tackling" this subject.
If the government wants it so bad why not just build it themselves and then lease it to the company?
flake452 because governments have nothing to give. They first have to steal the citizens money and property by force and coercion to posses something to give to someone else. Aka socialism.
Yeah but if the government is going to steal your money its better they invest it than give it away.
Also they raise the funds through debt like most companies do already.
flake452 you’re missing the point. They do not have the right to take someone else’s property and give it to someone else. It sounds to me like you’re advocating for socialism?
No i'm not I am just saying its less immoral for them to steal and the public keep the money for them to steal and give it to a private company.
The strange thing is the billionaires have money in the bank to pay for this if they wanted yet our government, which is trillions in debt, pays for it.
Yup they privatize profits and sociliaze losses
Brian Bania That’s why their billionaires.
Well said. Couldn’t agree more.
These are the modern version of Roman Colosseum now it makes sense
Sad that people choosing not to go to games and events still fund these stadiums,,,,
austin thomas, who can afford it? Tickets, parking, food… I’ve only been a couple of times because it costs a small fortune to attend.
Holly Look how much it cost to go to a movie. Two tickets $15, Popcorn and two cokes $20. I bet $35 wouldn’t get you a ticket in to a pro sports game.
Dave Davis, it’s not a movie. You’re way, WAY off, at least for my town. Baseball’s reasonable but an NFL game will cost a minimum of several hundred per head for a Sunday of football and pageantry.
nfl boring!
Slaves get no choice.
My stepdad wanted me to get a bartending job at the Las Vegas stadium, and he didn't like that I refused due to practically working around 12 to 30 days in a year. I'd get more money working a week at a Chili's location near the strip or on Fremont in a week than a day at the stadium.
Vegas has a failing government school system but chose to spend the stolen taxes in on a sports ball team. Let’s not forget that.
Public schools run on the Prussian model to make obedient soldiers and workers all run by Commies who have no clue about finances so failure is baked in.
Vegas has a woman mayor? Oh crap, so does Atlanta. Let's get women out of politics as a start and also end 'chocolate cities' as they always fail...
Ellipsis of Triple Tap and there are many instances of men having shitty policies. Shitty ideas are not exclusive to a specific gender or race.
@@Barskor1 yes. Nice to see someone else who knows this!
Spot on. As always.
It's reasons like these I just want some land in a rural area where I can grow my own food and live off the fruits of my own labor. Because sure the government can still tax me, but the fruit that grows in the orchard is harder to take a bite out of than the transactions that I make on a daily basis! 🌳🍎🍐🍒🍑🍏🍊
If it's a good investment, why won't private interests do it?
Something only intelligent men like John Stossel brings up. The unintended consciences of taking money from taxpayers.
Can all partys at least agree for government to stop spending r tax dollars
Mr stossel your great love the dry humor and wit
I love John even though his topics made me mad and sad.
That's why he's good at his job.
My county spent 100m on the Red Sox spring training stadium. They sold as a tourist draw. We already have that....it’s Florida and warm weather! 100m for 6 weeks of use and Red Sox and Aramark reap all profits from sales in stadium! Meanwhile we are behind in infrastructure, school building, etc.
Because...SPORTS! ~Andrew Heaton
Attending a professional sporting event is a once or twice a year treat for most people.
It's not something that everyone can afford.
It's definitely a splurge or a special day out for an average person or family.
That's why you don't see too many regular people at big events like the Super Bowl -- only wealthy people can afford tickets, plus parking, food, drinks, & souvenirs.
It's truly a shame that a city's re lower income residents have to pay for stadiums & venues where the wealthy go to play.
That "jobs created" thing isn't even an argument for funding a stadium, when the fact is they gave excess money to people who already could have built a stadium, not to mention I doubt those created jobs are going to last for a big game day stadium. Its the private market's job to give others job for work that comes out of their pockets in projects like this, it shouldn't be something the whole damn city is paying for just for a sporting event.
"I think it really is a benefit to us that really could spill over into something." What a beautiful cluster of weasel words and gauzy qualifiers! It's almost impressive.
Agreed.
This is what Frederic Bastiat called : What we see and what we don’t see .
Oh I remember studying this in college in my sports history course. It was then I saw the insidious nature of this stuff. Yet we continue to vote and allow it's subsidization.
As an atlantian. I love this stadium. No complaints
Keep up the good work John. I really like your program.
This man dresses up for every thumbnail and I love him for it.
Commitment ppl
That's 1/7th of a wall right there. Such a waste.
username just like the wall lmao
You are aware that people like Hayek and fiedman want unfettered immigration, correct?
Yeah I’m sure a wall will keep out the visa overstayers that make up the majority of illegal immigrants in the states. Let’s also forget that border security increased immensely after 9/11 too.
@@Ebalosus visa overstays account for 42% of illegal immigrants. I wonder where the other 58% come from? So should we not do anything about the other half just because the 42% ride in planes?
And a dismantled welfare state, among much else.
I just cant stop watching
Places like this should have to pay property taxes just like any other business. That would be a way for citizens to recoup tax dollars and put it back in the system. What a scam.
Hey, I'm a stutterer too! Back on subject, we built two stadiums in Seattle, both subsidized by tax payers. Our football stadium was owned by Paul Allen, one of the richest men in the world. And he got a subsidy. God help us....
Those 4000 jobs. Are they seasonal?
If you count seasonal 4 hours a day, 8 or nine days a year.
I think they were actually talking about the 4000 jobs required to build the thing... Not the ongoing jobs to man it and maintain it.
You should also look into the government subsidies given to corporations that pay to run commercials on sports telecasts, many of whom don’t seem to need to advertise. Determine if this is a coincidence or reimbursement.
Maybe government wants professional athletes to be millionaires so that a lot of young men, especially those from poor families, will sacrifice other opportunities to become a professional athlete. Those who don’t make it, which is most of them, remain poor remain poor and dependent on government handouts.
Sacramento is trying to get an MLS team, fully funded by private investment, not a penny from the government, and MLS continues to choose teams that are publicly funded.
I'm the biggest NFL fan you'll ever find, but I agree 100% that taxpayer money should not be used for stadiums. Even if it means my favorite team decides to leave town. There's no excuse for handing tax payer money to teams and owners that could pay for this themselves.
I got a fever and the only prescription is more John Stossel.
I am In Charlotte. I was shocked to death when the city raised taxes to give to Bank of America to fix their
stadium. Bank of America threatened that they would leave if the the city would not give the money to them.
It was right after 2009. yes, DO you remember the years?
At that time, so many teachers lost positions, but no one, no one talked about raising tax for educations for children at all. that is the mentality of America.
John, I usually agree with you. However, what the state of Nevada, Las Vegas and the Raiders is doing is pure genius. Yes there is a tax to be paid for the stadium. Paid by visitors using the hotels. Hotels that are in casinos, with restaurants, stores, and other entertainment venues. The Raiders have put up or borrowed $1.2 billion to put into the stadium and the HQ in Henderson, NV. On top of that, the stadium is going to be used by the Running Rebels of UNLV. They've already scheduled concerts there beginning in 2020. This is also an opening for a MLS franchise to be brought to the city and the NFL has also scheduled a draft to be held in Las Vegas in 2020 alone. You're talking about $10 billion in revenue to the city and state for one three day event! Now, assume you're a fan of a team, but are only planning on travelling to one to three games a season? Well we could go to the Green Bay game or Jacksonville or even San Francisco, right? Or we could make an event of our trip and spend 4 days in Las Vegas! Buffets, slot machines, strip clubs, shows, dance clubs, shopping at the Miracle Mile or Container Park? That or you can freeze your ass off in Wisconsin or Buffalo or get shot trying to go to a game in Baltimore or Washington DC.No, this was an investment that will more than pay for itself, luring tourist to the city and state and they're funding the stadium, increasing the economy, creating jobs and getting on of the crown jewels in American sports for free. You'll note I am a Raiders fan, just check out the name. But I refuse to travel to broken down Oakland for a game. Where I am located I attend games in Atlanta, Nashville, New Orleans or Charlotte. I have already planned to come watch my beloved Raiders play in Las Vegas with a friend who lives there and bought a PSL of four seats. We're planning on staying a whole week! I am guessing we'll spend upwards of $5-$7K that week (we're a family, no boobs or slots for us) but we'll have fun just the same and we'll feel safe doing it.
Ken Revenue, the city and state might get $500 million in taxes. For one event!
The first thing I agree on...well done
And all the subsidies in the world mean nothing of people don't go to the games.
The OPDome (AKA Oriole Park at Camden Yards) cost $110 million. Thanks to the Socialist city government, crime is so bad in Baltimore that people won't go to games, and the O's play to near empty stadiums even when getting to the Wild Card playoffs. How long before the O's move out to the suburbs? The same people who promise jobs and "spill over" benefits (is that like "trickle down"?) drive jobs and businesses away, leaving the taxpayers to maintain empty temples to Corporate Welfare.
The Rams were driven out of St. Louis by the crime near the domed stadium. This is akin to all the convention centers in cities around the country. The first thing the mayor of Podunk wants is a new convention center to pay off the unions. The building sits empty for weeks on end. Taxpayers are taking it up the wazoo.
@@JamesBond-uz2dm No, the Rams left St. Louis because their sweetheart taxpayer deal had an easy out that allowed Kroenke to move the team and more than double the value of his investment. Now St. Louis is stuck with an empty stadium they haven't finished paying for yet. St. Louis did this to themselves.
Check out the likes to dislikes ratio. Stossel, you're a star!
How is it possible that I agree with John Stossel?
Some of these politicians that claim there will be "spill over" also say there is no such thing as trickle down economies
I'm reading his book "No They Can't" Its funny this came out right as I got to this part of the book.
Usually when you build a small business in a city, you are just haggling with how much they are going to hurt you. I've been to a few of those meetings.
City officials: we are going to need to hurt you here and here and make you do all this for us.
Us: Can you hurt us a little less here and here?
City officials: we have to hurt you there, but we can hurt you a little less here.
Such wonderful meetings.
I’ve seen it second do just this and more in my city but it’s hard for people to understand the money being ripped out from them. When you do point out why are government picking winners and looser you get called a socialist. I’m amazed how someone that is for a free market is a socialist
"spill over economics"
It's basically like when your waiter spills someone else's drink on you.
I believe the phrase you are searching for is “trickle down” economics.
@@ManPursueExcellence That's the joke.
progste
Yeah, they’re good at discussing the benefits of trickle down economics but, when it comes time to pass that ball to taxpayers, they look at each other only and say: 🤫
@@ManPursueExcellence The worst part is how they have spent years inventing this boogeyman of "trickle down" to argue against lowering taxes and then they say this when it comes to squandering public money.
It’s funny as a Las Vegas a local. The majority of us don’t give two shits about sports and we’re honestly nothing but pissed off when they wasted all of that tax money I’m getting the crappy ass readers to move out here. Instead of pushing more money into our terrible public school system or helping build our roads we wasted money for a fucking football team.
Hubert H Humphrey Metrodome, Opened in 1982, Closed in 2013, cause it was "too old". And Minnesota Taxpayers are still paying a Metrodome Tax in 2019.
Well to be fair, It collapsed. But you're right it wasn't old, I was there a year or so before it got destroyed and it felt just fine.
It's called "bread and circus"
If you study history: Ever since Rome, the stadiums were/are built by the slaves to keep the slaves entertained and docile. Stay in school kids.
Govt schools were also built to keep us enslaved
It all starts with the disgusting public education system.
One your best I have seen, so far.
All good points here, but when a team threatens to leave unless the taxpayers fund a new stadium, no local politician nor their party wants to be known as the one that "lost" the team (if they actually did leave).
Love this man’s work.
If a stadium were a 'good investment', then you would have no trouble finding individuals willing to loan money for a stadium to be built.
It's like the when merchants used to finance private roads (turnpikes) so goods and customers could reach their shops.
People are too used to suckling at the teat of Big Guv to do this for themselves any more.
Well, I can see why Stossel is not with a major network anymore, he tells the truth, and they don’t like the truth.
If the tax payers are paying for it... allow the homeless to stay there a while.
I don't understand how a guy like Stossel keeps his sanity, and has been able to keep fighting this losing battle.
When people ignore the blatantly obvious they are either idiots or tyrants.
Unfortunately this country is full of both, and while it's still the best last bastion of freedom on earth, she's dying.
Bang on John
The sad part is how many companys get subsidies. Healthcare, solor companies, car companies, electric companies,etc: This is what I call our goverment being in bed with businesses. This doesn't even come close to how big of a problem this is
Sportsball! Bread and circuses!
Get ride of tax credits and subsidies. Just charge a flat tax
I love how he makes several good points....and then goes ahead and shits his pants when he starts stretching to cover for robber barons...”I can’t blame them because their peers would think they were stupid not to take advantage”. He sounds like a lawyer for the manson family!
@Ken MacDonald Dude how did you know that I was the person who personally elected every corporate legislator in the country?! Cover blown!
Yes, stop funding stadiums for billionaire owners and millionaire players. The government doesn't build facilities for Target, Ford, or any other business. This is a big scam and if politicians vote for stadium subsidies then we need to toss them out of office. This is our fault for allowing it to happen.
I remember watching a small on TV a small tribe trying to survive in the ice age. There were 100 miles of ice glaciers between them and their destination. Imagine if they didn't have football provided by government t help them.
Hey now wait, it was hotel tax bond that went to the Raiders. So tourists, not tax payers.
The new Raiders' stadium in Vegas is budgeted at almost $2 billion, with $750 million from municipal bonds (claimed to be offset by a new hotel tax, but if those rooms aren't booked as expected...). I'm interested to see the return on this "investment" 10 years down the road.
We live just outside of Denver.
The people who live in Denver pay a tax for Mile High Stadium.
Those of us just outside the city don't pay any tax and we go to games for the same price as everybody else.
Finally something I can agree on with Stossel
what makes these people qualified to take these risks with our money., its criminal. there need to be repercussions
Exact the same happens here in Brazil, with all the soccer stadiuns. Government and big business profit together, people pay the bill.
This is example of government choosing winners and losers.
Delta Airlines done this deal in 2004, ppl can get discount flights on the last flights at end of day
I love sports, but I’m against stadium subsidies.
all that stadium and the falcons blow the superbowl
They didn't even need a new stadium!
I just realized that a broadcaster is doing a decent job when you agree with them sometimes, and are pissed at them other times.
The Raiders aren’t even in Vegas (and neither are the Golden Knights). They are both in Paradise, Nevada.
Its simply a bribe to the owners.
This is as bad as politicians’ corporate welfare for Amazon and such. NFL doesn’t understand logistics. I live in Jersey; we got screwed by SB48. They wanted to do a “Transit Super Bowl” but would not allow any trains to arrive until the doors opened, when almost all people wanted to arrive early, which created a huge logjam that the NFL was responsible for but New Jersey got blamed for, even if our state has huge shortcomings. The NFL and media will throw anyone under the bus for stuff they didn’t commit and create fake crime scenes. It isn’t to be believed.
I just can't help thinking about the seedy underbelly of the sports organization. The true foundation of sports.
Let's talk about the real winners here. I lived in the neighborhood next to the stadium last summer and for every scoccer game, Elliott Street Pub, a Bar that can usually hold 15-20 people, was bombarded with about 300 customers overflowing out into the street trying to get beer.
They don’t have the clout 😂 John, i love your work so much.
The Braves new stadium cost tax payers a lot of money. There was a lot of shady dealings with the city.
Rome must have its circuses and welfare bread.
You can never listen to them when they say “x amount jobs created” they’ll lump just about everyone in that category. The construction workers who after making it went on to something else, the cleanup crews who only work there like a couple weeks out of the year, and the concessions workers who make practically nothing.
Quality content
Stossel for President
Being a functional oligarchy would lead to these situations.
hence, we don't patronize football games...buy football junk, eat football food, guzzle football beer. In fact, we don't own a home so our property tax can't be taken away for football stadiums..Yes, we fly under the radar but is there any other way?
Quick question, why do we let this happen?