konane's Blog

Why the federal government should stop spending billions on private sports stadiums

Why the federal government should stop spending billions on private sports stadiums

Source: Brookings

"When the New York Yankees completed the new Yankee Stadium in 2009, the final construction bill was an estimated $2.5 billion. Of that, nearly $1.7 billion was financed by tax-exempt municipal bonds issued by the city of New York.

Because the interest earned on the municipal bonds is exempt from federal taxes, a large amount of tax revenue that would have been collected—had the bonds been issued as taxable—went toward the construction of the stadium. In other words, the Yankees received a federal subsidy to build their stadium. How much? About $431 million. That’s a lot of money, but it gets worse.

The loss in federal tax revenues was even higher than the subsidy to the stadium. High-income taxpayers holding the bonds receive a windfall tax break, resulting in an even greater loss of revenue to the federal government. In the case of Yankee Stadium, the additional loss was $61 million. That is, the federal government subsidized the construction of Yankee Stadium to the tune of $431 million federal taxpayer dollars, and high-income bond holders received an additional $61 million.†

The Yankees, of course, aren’t the only team to finance their stadium using tax-exempt municipal bonds. Since 2000, 35 other professional sports stadiums have also been financed with tax-exempt bonds.

In “Tax-exempt municipal bonds and the financing of professional sports stadiums,” Brookings Senior Fellow Ted Gayer, Austin J. Drukker, and Alexander K. Gold quantify the federal  subsidies given to finance professional sports stadiums built or majorly renovated since 2000, and the total loss in federal tax revenue.

All together, the federal government has subsidized newly constructed or majorly renovated professional sports stadiums to the tune of $3.2 billion federal taxpayer dollars since 2000. But because high-income bond holders receive a windfall gain for holding municipal bonds, the resulting loss in total revenue to the federal government is even larger at $3.7 billion. ...."

https://www.brookings.edu/research/why-the-federal-government-should-stop-spending-billions-on-private-sports-stadiums/

Entry #3,364

Hillary Clinton Lied, Paid For "Trump Dossier"

This is rather long but recommended reading for both actions taken by certain players and timelines of those actions. 

Hillary Clinton Lied, Paid For "Trump Dossier"

Russia meddling story."

" .... Which then shifts the focus to the person who was, and again is, in charge of it all: former FBI director, and current special prosecutor Robert Mueller:

The agency,  when Mr. Mueller headed it, soft-pedaled an investigation highly embarrassing to Mrs. Clinton as well as the Obama Russia reset policy. More recently, if just one of two things is true—Russia sponsored the Trump Dossier, or Russian fake intelligence prompted Mr. Comey’s email intervention—then Russian operations, via their impact on the FBI, influenced and continue to influence our politics in a way far more consequential than any Facebook ad, the preoccupation of John McCain, who apparently cannot behold a mountain if there’s a molehill anywhere nearby.

Which means that Mr. Mueller has the means, motive and opportunity to obfuscate and distract from matters embarrassing to the FBI, while pleasing a large part of the political spectrum. He need only confine his focus to the flimsy, disingenuous but popular (with the media) accusation that the shambolic Trump campaign colluded with the Kremlin.

Mr. Mueller’s tenure may not have bridged the two investigations, but James Comey’s, Rod Rosenstein’s , Andrew Weissmann’s , and Andrew McCabe’s did.  Mr. Rosenstein appointed Mr. Mueller as special counsel. Mr. Weissmann now serves on Mr. Mueller’s team. Mr. McCabe remains deputy FBI director. All were involved in the nuclear racketeering matter and the Russia meddling matter.

The punchline: it's not the Clintons that should be looked at, at least not at first - their time will come. It's the FBI:

By any normal evidentiary, probative or journalistic measure,  the big story here is the FBI—its politicized handling of Russian matters, and not competently so.  To put it bluntly, whatever its hip-pocket rationales along the way,  the FBI would not have so much to cover up now if it had not helped give us Mrs. Clinton as Democratic nominee and then, in all likelihood, inadvertently helped Mr. Trump to the presidency.

We eagerly look forward to Trump's furious tweetstorm once he learns of all of this... and how long before he fires Mueller, in this case with cause."

http://www.zerohedge.com/news/2017-10-24/wapo-dnc-clinton-campaign-financed-infamous-trump-dossier

Entry #3,361

COLLUSION, CLINTON STYLE (Dossier, who paid for it)

Very short & to the point. The actual article is behind a paywall which I'm not paying to read. 

COLLUSION, CLINTON STYLE

".... The Hillary Clinton campaign and the Democratic National Committee helped fund research that resulted in a now-famous dossier containing allegations about Donald Trump’s connections to Russia and possible coordination between his campaign and the Kremlin, people familiar with the matter said.

Marc E. Elias, a lawyer representing the Clinton campaign and the DNC, retained Fusion GPS, a Washington firm, to conduct the research. ..."

http://www.powerlineblog.com/archives/2017/10/collusion-clinton-style.php

Entry #3,360

Rothschild: Donald Trump is threatening to destroy the New World Order

It's happening around the world that the New World Order is being rejected, not just here. However the US is leading the way.

Rothschild: Donald Trump is threatening to destroy the New World Order

"The Rothschilds have used their globalist media mouthpiece to declare that Donald Trump is threatening to destroy the New World Order, for good.Globalism propaganda tool and Rothschild family-owned publication, The Economist has branded the US President a “present danger” to the “New World Order,” and stated that the “internationalists” that formed it are “spinning in their graves. .....

http://www.libertyinfo.net/2017/10/14/rothschild-donald-trump-is-threatening-to-destroy-the-new-world-order/

Entry #3,357

West Wing Renovation (vid)

Note where it's said some portions of renovation were planned 3 years ago.

West Wing Renovation

Entry #3,356

POLITICSRobert Mueller Invested In Hedge Funds Linked to Russia and George Soros

Robert Mueller Invested In Hedge Funds Linked to Russia and George Soros

"Robert Mueller’s complex financial entanglements include investments linked to George Soros and Russia. During Mueller’s tenure at the FBI, high profile cases of financial wrongdoing within hedge funds that he invested in were ignored by federal law enforcement.

An Offended America investigation has revealed that Robert Mueller’s holdings in a fund of funds expose him to Russian investments and to hedge funds tied to George Soros. Mueller’s exclusive hedge funds were not open to the general public, but rather wealthy private accredited investors. The minimum investment in several of the funds is $10 Million.

Mueller’s Russian Financial Interests 

Mueller has been an investor in Mellon Optima L/S Strategy Fund, LLC for many years, according to his financial disclosures. That fund consists of holdings of other hedge funds in a structure commonly referred to as a “fund of funds”.

According to  2017 SEC Filings ............ "

http://offendedamerica.com/robert-mueller-invested-hedge-funds-linked-russia-george-soros/

Entry #3,355

McCain As Metaphor

Medium length article, good read. McCain lives in his own world & thank goodness he didn't win the nomination or election.

McCain As Metaphor

"McCain hails the crusade to 'help make another, better world' – yet the American people don’t want another world, they want to live in this world in peace and security, rather than sacrificing themselves to some imaginary 'duty' to uplift the world on Uncle Sam’s shoulders. That’s one reason why Trump is in the White House and McCain is on the outside looking in."

http://www.zerohedge.com/news/2017-10-21/mccain-metaphor

Entry #3,353