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Subsidies for sports (Proponents (Bad economic reasoning (Stadium only…
Subsidies for sports
Proponents
Jobs in construction
Money from people attending
Attracting tourism
Conclusion: Stadiums pay for themselves
Bad economic reasoning
Stadium only benificial when
Most productive way to make capital investments
Research: very little effect (positive/negative)
Often no profits
Top economists, polled by University of Chicago
1 out of 35: benefits outweigh costs taxpayers
34 out of 35: no great benefits
Nearly no stadium profits
Money spend at stadiums
Not spend at other businesses
no overall benefit
Concentrated benefits and dispersed costs
Big group of taxpayers
Hard to fight policy
Small group benefitting
More easily organized
Less taxes
225 million stadium --> 70 million tax loss
30 years --> 2 million/year
Renovations excluded
Professional athletes
Not living were they play
no local spending
US 70% against subsidizing professional sport teams