The Billionaire Playbook: How Sports Owners Use Their Teams to Avoid Millions in Taxes | Talking Points Memo

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This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1380367

Ah. But the steal starts with convincing city/county/state governments to build their stadiums for them.

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Pitchforks and torches, anybody?

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Seems like Lebron and some other players should buy a team.

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Free tickets to lawmakers go a long way. LeBron needs a new accountant.

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This is not a new thing.

And it can be changed if we get more control of Congress than we have now.

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Democrats get free tickets too.

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In a statement, Khan responded: “We’re a nation of laws. U.S. Congress [whom I happily pay off with a mere pittance of campaign contributions] passes them. In the case of tax laws [which I help dictate], the IRS applies and enforces the regulations, which are absolute. We simply and fully comply with those very IRS regulations [that I helped write].” Wilf didn’t respond to questions.

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It’s really a shame that Trump could never get an NFL franchise … and that he helped kill the USFL and the New Jersey Generals in the 1980’s.

The tax breaks he could have gotten might have saved him from repeatedly committing tax fraud.

Nah.

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Interesting. I assumed that buying sports teams was a vanity thing, not a savvy business decision.

image

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Take a look at the ad campaign against MLB accusing them of being “woke” because they pulled the All Star game out of Atlanta due to the passing of the voter suppression law.
All you need to do is look at the owners and their political views and donations which tend to be conservative. If anything like most any business owners they’re reading the marketplace and listening to their employees.

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in sotto voice: “Now don’t quote me but we make sure that the IRS is underfunded and understaffed.”

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“The addiction to sports, therefore, in a peculiar degree marks an arrested development in man’s moral nature.”

Thorstein Veblen

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Counterpoint: Joey Gallo is in the Home Run Derby next week.

Does anyone know if those reported tax rates for the players are effective tax rates or just the highest bracket rate?

I think it was Chomsky or Howard Zinn who mused about hard core sports fans who buried themselves into every statistic and said that if they only dedicated a bit of the same passion into politics we’d elected better people and the nation would be a better place.

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That’s what is so weird about Nate Silver.
538 covers politics like sports and sports like politics.

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True that.

I’ve been saying for years, that people’s anger is well justified but their target selection is 180 degrees off. This is what Mitt Romney thought was so great about American Capitalism!

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Please…somebody enlighten me…why should they " get away" at all…they are seditious criminals…