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Yankees spending tax dollars like drunk sailors

Discussion in 'Sports and News' started by hondo, Oct 4, 2007.

  1. hondo

    hondo Well-Known Member

    And where are those news hounds from the New York media on this?

  2. Ace

    Ace Well-Known Member

    In my opinion, drunken sailors are pretty good about springing only for the necessities -- booze and bimbos.

    So I don't really fault anyone who would choose to allocate their assets in such a manner.
  3. heyabbott

    heyabbott Well-Known Member

    OUTRAGIOUS. The government officials never act like drunken sailors.
  4. TheSportsPredictor

    TheSportsPredictor Well-Known Member

    But Bill Belichick cheated!!
  5. Oz

    Oz Well-Known Member

    I will give the Yankees credit for spending their own money on the new ballpark, which means they will be exempt from the luxury tax when they move in there in 2009.
  6. PhilaYank36

    PhilaYank36 Guest

    ... in other news, the sun rose today.
  7. Starman

    Starman Well-Known Member

    Bullshit. It's going to end up costing the taxpayers $800,000,000. At least. Undoubtedly a billion when the cost overruns come in.
  8. The Big Ragu

    The Big Ragu Moderator Staff Member

    How is it going to end up costing the taxpayers $800 million?
  9. spnited

    spnited Active Member

    Because Starman says so! You don't need any other reason.

    Even if it is Starman talking out of his ass, as usual.
  10. Starman

    Starman Well-Known Member


    And of course, they don't even get into road construction and other infrastructure improvements which the new stadium will make necessary, which will undoubtedly add a few more hundred mill to the bill.
  11. JR

    JR Well-Known Member

    Well, at least the city/state isn't paying for construction AND giving them tax breaks and grants.

    Look on the bright side, Starman.
  12. The Big Ragu

    The Big Ragu Moderator Staff Member

    That $795 million isn't money being handed out. People are buying municipal bonds--they are paying for them. They get a lower interest rate, but in return don't have to pay taxes on the interest they earn. So what this costs tax payers is the interest on those bonds (probably somewhere in the neighborhood of 3 or 4 percent), not the $800 million principal--which the bond buyers pay for the bonds. Yeah, it's a nice little gimme for the Yankees, but the Yankees do give something back to the city in terms of tourists, jobs, prestige, etc.
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