Buying Million Dollar Babies Gold-Plated Diapers
For those in Indiana, especially those in central Indiana, you are likely soon to feel the bite of a number of sales tax increases designed to pay for the ridiculously expensive $500 million new Colts Stadium in Indianapolis.
Not only that, but several towns around Indianapolis have all jumped on the band wagon and decided to start charging an extra percent tax because they are greedy scum bags. But I digress, if you live in or around Hamilton County, you know the town councils are greedy scumbags, kind of like water's wet and the sky is (usually) blue. I'll discuss that later.
That digression aside, it appears that the Colts have finally signed off on the deal to build the new stadium and stick around for a few more decades. The Colts allegedly will foot part of the bill, although they did get a break on their one sticking point.
Kenley said one of the final sticking points, a $3 tax on Colts tickets authorized by the state legislature to spread the cost burden, would not be implemented. The Colts have argued against the tax because fans will already be paying a 6 percent admissions tax on all events at the stadium.
State officials decided the $2.5 million the ticket tax would raise annually wasn't necessary to finance the project. The team will pay $100 million, and the other 80 percent of the cost will come from increased taxes on prepared food and beverages in the Indianapolis metro area, as well as a tax on hotels and rental cars in Marion County.
Of course, what's not mentioned in all this, with the Colts skating out on the $3 ticket tax, is the fact that they will get the proceeds from selling the naming rights on the Dome, conservatively $1 million over 30 years, plus they get a $48 million kickback as part of the deal, plus they get a large percentage of the usage fees for the dome generated from non-football use. The esteemed Abdul Hakim-Shabazz at our local WXNT 1430 has estimated that after all these sweetheart backdoor angles, the Colts will come out with over $80 million over and above what they're originally putting in, an over 80% return on their investment in a project they will fully benefit from and only have to put in 20% of the startup cost.
Now, I'm not sure about you, but that's got to be one of the sweetest deals ever negotiated. There are loan sharks and late-night infomercial salesman looking at this muttering "Irsay you mangnificent bastard!" This, my friends is what corporate welfare provides us. It gets us gold-plated diapers for crybaby millionares who feel that everyone, especially the people that live within 50 miles of them, owes them a living and a playground apparently.
Hat's off to Irsay and crew. They pulled off the scam of the century and we and likely our grandchildren will be paying for the short-sighted retarded sell-out behavior of our mayors, town councils, and state legislature. This socialist money redistribution scheme will go down as one of the worst ideas we the citizens of central Indiana ever allowed to be floated. I can say nothing except that we voted for these morons. I'm still waiting for the explanation of how and why doing so was such a good idea. Someone, please, tell me how voting in these tax-loving millionare coddling schmucks has now helped us. I dare you.
For those in Indiana, especially those in central Indiana, you are likely soon to feel the bite of a number of sales tax increases designed to pay for the ridiculously expensive $500 million new Colts Stadium in Indianapolis.
Not only that, but several towns around Indianapolis have all jumped on the band wagon and decided to start charging an extra percent tax because they are greedy scum bags. But I digress, if you live in or around Hamilton County, you know the town councils are greedy scumbags, kind of like water's wet and the sky is (usually) blue. I'll discuss that later.
That digression aside, it appears that the Colts have finally signed off on the deal to build the new stadium and stick around for a few more decades. The Colts allegedly will foot part of the bill, although they did get a break on their one sticking point.
Kenley said one of the final sticking points, a $3 tax on Colts tickets authorized by the state legislature to spread the cost burden, would not be implemented. The Colts have argued against the tax because fans will already be paying a 6 percent admissions tax on all events at the stadium.
State officials decided the $2.5 million the ticket tax would raise annually wasn't necessary to finance the project. The team will pay $100 million, and the other 80 percent of the cost will come from increased taxes on prepared food and beverages in the Indianapolis metro area, as well as a tax on hotels and rental cars in Marion County.
Of course, what's not mentioned in all this, with the Colts skating out on the $3 ticket tax, is the fact that they will get the proceeds from selling the naming rights on the Dome, conservatively $1 million over 30 years, plus they get a $48 million kickback as part of the deal, plus they get a large percentage of the usage fees for the dome generated from non-football use. The esteemed Abdul Hakim-Shabazz at our local WXNT 1430 has estimated that after all these sweetheart backdoor angles, the Colts will come out with over $80 million over and above what they're originally putting in, an over 80% return on their investment in a project they will fully benefit from and only have to put in 20% of the startup cost.
Now, I'm not sure about you, but that's got to be one of the sweetest deals ever negotiated. There are loan sharks and late-night infomercial salesman looking at this muttering "Irsay you mangnificent bastard!" This, my friends is what corporate welfare provides us. It gets us gold-plated diapers for crybaby millionares who feel that everyone, especially the people that live within 50 miles of them, owes them a living and a playground apparently.
Hat's off to Irsay and crew. They pulled off the scam of the century and we and likely our grandchildren will be paying for the short-sighted retarded sell-out behavior of our mayors, town councils, and state legislature. This socialist money redistribution scheme will go down as one of the worst ideas we the citizens of central Indiana ever allowed to be floated. I can say nothing except that we voted for these morons. I'm still waiting for the explanation of how and why doing so was such a good idea. Someone, please, tell me how voting in these tax-loving millionare coddling schmucks has now helped us. I dare you.
posted by Rob Beck | 6:12 PM
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