Comment 59007

By ProLine (anonymous) | Posted February 01, 2011 at 10:48:37

Corporate welfare cases always seem to win in the end. And once the deals are signed, what can the public do, other than have our incomes garnished to support it?

In Florida, you should see the cash that the Marlins have extracted from present and future generations of Miami taxpayers.


"The ugliness of the Marlins’ ballpark situation is already apparent, and the building doesn’t open for another 18 months. Somehow a team that listed its operating income as a healthy $37.8 million in 2008 alone swung a deal in which it would pay only $155 million of the $634 million stadium complex. Meanwhile, Miami-Dade County agreed – without the consent of taxpayers – to take $409 million in loans loaded with balloon payments and long grace periods. By 2049, when the debt is due, the county will have paid billions."

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