Pro Sports Barons Line Up for More Corporate Welfare

Tom Benjamin at Canucks Corner Weblog looks at how new U.S. tax legislation will line the pockets of the fat cats who own sports teams:

"One line is added to an omnibus bill, and Shazzam! Major league sports franchises in the United States appreciate by $2 billion! Shhh! Everybody knows these businesses are lousy investments because the players get paid so much."

Tom's column includes a link to the original news article, which first appeared in the New York Times.

Many commentators portray the U.S. as a free market, while denigrating Canada as a nanny state. But when it comes to pro sports, the opposite is true. America is where the billionaire franchise owner can ride a gravy train of exclusive tax breaks and taxpayer-funded, rent-free arenas. Most Canadian teams are left to fend for themselves, like real businesses.

Field of Schemes: Find out how the sports plutocrats in your town are dipping into the public till.

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