Super Bowl of Welfare

Super Bowl of Welfare

This is our moment. Our Super Bowl moment. Sunday brings us America’s most-watched sporting event. Atlanta’s politicians are excited that: The world’s best come to the world’s greatest stage to give us what they’ve got. And what will Atlanta give? We’ll turn on the lights and put on a show. And pay for part of that show with their taxpayers’ money, hundreds of millions of dollars which they gave to billionaire Arthur Blank, owner of Atlanta’s football team, to get him to build this stadium. A showplace that Atlanta’s former mayor called, “simply the best facility in the world.” Do the people of Atlanta at least get a cut of the restaurant and merchandising revenue? No, Falcons control all the money from parking, restaurants, and merchandising. Sweet deals like that are not unusual. Twelve teams have actually turned a profit on stadium subsidies alone. Yes, they received more money than it cost to build their facilities. So taxpayers, most of whom never attend a game, subsidize billionaires. Seems like a scam to me. I don’t fault Arthur Blank for grabbing the money. I even like the guy. Blank improved our lives by founding Home Depot. We’re both stutterers. Here we are posing with actress Emily Blunt at a stuttering charity event. If politicians are giving money away, Blank’s partners would consider him irresponsible not to take it. The problem is the politicians giving away your money. I get why they do it. They like going to games, like telling voters, “I brought a team to our town.” Here’s the mayor of Las Vegas. We are so ready for major league sports in this town. She and her political buddies funneled 700 million tax dollars to the owners of the Oakland Raiders to get them to move the Raiders to Vegas. Watch the politicians applaud themselves while the governor signs the bills. I’m glad this reporter put this question to the mayor: Why should there be one cent of public money when you have two guys who could pay for this themselves? I think it really is a benefit to us that really could spill over into something. Spill over into something? Politicians always claim giving taxpayer money to rich team owners will spill over to everybody. And yes, the well-connected people who pose with the shovels at ground breaking ceremonies do collect some of what spills, but the way they justify the cost to taxpayers is bunk. This was a terrific investment. They always call stadium subsidies good investments, but it’s not a good investment. It’s a bad one. Politicians, teams, and stadium promoters all highlight this extra business activity that occurs when the football team plays at home. But this happens fewer than a dozen days a year. The stadium is also used for some concerts and soccer games, but most days, not much happens here. Economists who study stadium subsidies say little or none of the money makes it back to taxpayers. The problem is the seen versus the unseen. We see the people at the games and extra customers at some businesses on game days. Stadium promoters show us this. But looking at this means we miss the unseen cost. The unseen cost is that those people would otherwise be spending their money elsewhere in the local communities. At the local bar there’s one less bartender. There was one less waitress hired at another restaurant. A movie theater that had one less theater full. Right, a thousand little cuts. But those ordinary businesses don’t have the clout that the big boys have. Welcome to Super Bowl 53. So, Sunday, when Atlanta politicians brag about their stadium: We are Atlanta. And clueless media claim this created jobs. 4000 thousand jobs created to do this. Let’s also remember all the jobs they destroyed and the taxpayer money they squandered.

100 thoughts on “Super Bowl of Welfare

  1. Sports are politics for stupid people. And most citizens are too stupid to do anything but smile and nod when their politicians want to finance these stadiums.

  2. We (tax payers) bought miller park and renovated it countless times! And now insurance agency has the AUDACITY to put their fucking name on it!

  3. The whole concept of paying for these types of government investments is based on the false premise that consumer spending drives the economy.

  4. It's way to easy to give away other people's money…And another example of the elite controlled media, brainwashing the brain dead public…

  5. The only people who benefit from using these stadiums are brain dead group think football knuckle draggers who should have no voice in society and be the slaves of the intellectual. Its the types of people who go to casinos, watch the Superbowl and think it means anything if either team wins, and they all love to watch fighting. The one other sure sign of a knuckle dragger is, they associate themselves with a religion to make sure you know they are in a group that you might like.

  6. socialist " spilling over economics " never works giving money to rich people, bureaucrats, lazy people sneaky people in their friends doesn't help thee poor or most of society

  7. Thanks for covering this issue which certainly needed covering. Football creates an irrational enthusiasm to conduct bad economics. The vices appear to be drugs, prostitution, gambling and football. They level hotel/motel taxes as if the games are the only reason people would travel to the city. Suggest the tax only arise the weekend a game occurs and the response would be that isn't enough money. So are the off weekend and weekday taxes subsidizing the football stadium? Of course they are. Have the attendees pay for the actual cost of the facility. Oh that won't work, it would be too high.

  8. I take a knee to this theft from the average citizen. Those politicians who allow this should be hanging by chains from a dungeon wall.

  9. Yeah John stossel thanks for always exposing people it’s the best!!! Keep up the amazing work brotherrrr. We all dying broke out here and our tax money going to the stupidest shit.

  10. God damn this is some next level psychological warfare propaganda for the elites. State an obvious problem in crony capitalism then divert all the blame to only a small part of the problem. Yea forget that a billionaire knowingly pays off campaigns of people he knows will give funnel him tax dollars and on top of that the billionaire already lobbied somebody else to make this funneling scheme 100% legal. lol this fucking guy is pathetic in his attempts to keep the ideology alive even though it’s falling apart on almost every side except the top.

  11. Thats gotta be the most hilarious way to screw over a large amount of people. Rome pt. 2 folks. Wait until the twist at the end. I heard it was one HELL of a time

  12. Swiping the national debt credit card left and right. Why is this even legal for them to pull money out of the commonwealth for stadiums and things of this kind that the companies can fully afford to pay for without using any of the commonwealth money.

  13. Hamilton Ontario spent 145 million and it has no roof ….we have winters here….no concerts in bad weather.. .scam there has been no new restaurants etc in the vicinity

  14. Great video. Those taxpayer dollars could have gone to a hundred different, more important things. Infrastructure, education, or heathcare! Instead its thoughtlessly swept away as a corporate handout – to some of the richest individuals in the country who have pockets plenty deep enough to pay for the stadium themselves. And that's the problem. A sports stadium is not a public service. So it shouldn't receive money as if it were.

  15. Being from Atlanta I know how FUCKED our politicians are. Corrupt to the core. Nothing but hustlers in this town. TAXATION IS THEFT.

  16. Other large businesses do it too. The movie maker and Amazon for instance. They built the Braves New stadium the same way .

  17. I hate that teams get subsidies for new stadiums. But I would also hate it if the teams I was a fan of moved. Some city somewhere in the country will always be willing subsidize a new stadium to get the owner of a team to move his/her team there.

  18. fuck this football players won't even stand to the American Anthym so fuck stadiums and killl the sports fuckheads bad as muslims rich cocksuckers

  19. I live in Las Vegas and I had no idea our tax dollars were going to the raiders stadium
    I don’t even want them here

  20. I don't want my money go to pay for the billionare s toy! If they want these toys so badly, pay for them themselves with their own money…

  21. my father in 2009 accurately predicted the following ten years of super bowl winners based on marketing trends in the industry, with the presupposition that games are fixed based on profit margins. so even the game itself is all nonsense. though damn impressive that he was 100% dead on the money for a decade of games. i should've placed more bets from the start lol.

  22. Stossel is such POS, only tells the side he wants you to hear. Doesn't bother to mention the team owners threatening to move the teams if the stadium doesn't get built. He acts like the politicians suggested the stadiums. No mention of the rich team owners part in all this. Not one of Mr. Stossel's little videos is worth a shit. No real research and no depth. I actually agree that taxpayers shouldn't be funding the stadiums and that it's a huge drain on a city and state, but he doesn't do any research or cite any real examples of what really happens and why cities pay for them. He would get a C at best in any basic Journalism class.

  23. The money given for building this stadium was raised via a hotel tax so ATL tax payers weren’t the ones who paid for this but people coming to visit Atlanta.

  24. I'm so sick of America, I want to live somewhere where I'm free and not told to be happy I'm more less oppressed then others.

  25. Foolish ignorant ppl paying to go see bloated rich narcissists throw around a ball and run into one another and not stand for the flag.. yup can't get any stupider than that

  26. Giving NFL team owners tax breaks and taxpayer money to build stadiums should be made illegal. How can politicians give NFL team owners taxpayer dollars to build stadiums but taxpayers have to pay to go to the stadium that their money paid for? Oh that's right, the politicians get to go to the games for free while sitting in the penthouse at the NFL stadium 🏟️.

  27. Generally a good report but you left out the extortion that follows after the stadium is built. A few years go by and the owners show up again at the public trough. We need new locker rooms better training facilities. The sky boxes need to be redone. If the demands are not met, well, it would be a shame if we had to move the team to another city leaving you with a stadium you’re still paying on and no team. You wouldn’t want that would you…?

  28. More liberal Jew bullshit. No building except that which expands the government and regulation, increases the gap between rich and poor, and reduces quality of life for all

  29. For what it's worth, as much as people don't like the idea of subsidies for NFL stadiums, I think that subsidizing all the various facilities for an Olympics is FAR, FAR WORSE. At least with the NFL, you have a stadium that will get used for years to come, and employ people during that time, even if it does seem like shuffling the deck chairs on the Titanic (i.e. employing people at the stadium rather than at other local entertainment business). But with the Olympics, many of the facilities end up falling into total disuse after the Olympics is over. If you're lucky, there might be some facilities that can be continued to be used, or repurposed after the fact. But I suspect that many of the facilities just end up never being used again. Just look at other cities that held Olympics, and you'll see stadiums that end up never being used again and falling into disrepair from lack of use and maintenance.

  30. It's unreal. Literally hand these sportsball billionaires taxpayer money and the people will cheer. Give a business like Amazon not cash but a tax break and people throw a fit.

  31. Hey AOC: maybe if the government paid for an entrepreneur's restaurant the way the government pays for NFL stadiums then those entrepreneurs could afford to pay their employees bloated salaries the way sportsball team owners pay their employees obscene salaries.
    (Disclaimer: I'm not wishing for the government to pay the real estate expenses for every entrepreneur I'm just making a point on the hypocrisy on why we hand these teams money)

  32. City pride thru your sports team is a joke. Sports stars today are like Yu-Gi-Oh or Pokemon cards they're traded and collected from all over the country and now worldwide, Almost none of them come from the cities of their teams namesake. It is very much like those card games, the owner with the most money has the best cards and usually wins. The only reason they even bother to trade players is to keep the matches interesting.

  33. How much do they make in sales tax? How many employees are part time hired for games and full time employees?

    I feel like this maybe a little more nuance than what was shown

  34. Idiots vote to subsidize the building of a stadium so a billionaire can make more profit, while getting tax breaks.

  35. Corruption a long old game played by greedy politicians who fill their pockets at the expenses of tax payers, anytime a politician says it's good for the city that means it's going to cost you with no return.

  36. Right! Canadians do the same, in both official languages, with hockey stadia, using identical specious arguments.

  37. You could get 20 Space Needles for the price of one 700,000,000$ stadium. Atlanta could've been the city of great works of art. Instead, they have a stadium.

  38. Thanks for building a new stadium nobody asked for and using tax payer money to pay for it. There was nothing wrong with the Georgia Dome anyway.

  39. Fuck it! Sports teams should pay for their stadiums and quit paying players exorbitant wages! I mean they just play games for Christ's sake!

  40. What John is ignoring is that fact that the team owners hold their respective cities hostage. "Pay for my stadium or X other city will." Cities consider the cost of losing the team(s) and make economic decisions based on the numbers. I don't love that team owners get these subsidies, but it's really just another supply and demand negotiation.

    I also get that people who aren't interested in sports don't want to pay for stadiums, but taxes are used for MANY things that people don't want or don't use. This isn't any different.

  41. How many hundreds of millions of tourist dollars have come to Atlanta because that stadium is there? Very often the subsidy to a football team or any other business reaps great rewards for the city or county giving the subsidy. I'm sure it's not true in every case, but it would be a good idea to investigate before condemning the subsidies. Think about Amazon going to New York. They would have provided 25,000 jobs. The same thing can be true of a football team. How many people work at the stadium? How many people work at the surrounding restaurants and hotels? It's a big business and very valuable to the city where it resides.

  42. 4,000 jobs at $700k… that's Government math for you. When Government gets involved it costs taxpayers money!

  43. This is the marriage of government and corporations and it is at the taxpayers expense and it is entirely inappropriate.

  44. Yea as a huge sports fan I do want stadiums..but the money made in the stadium should be returned to the tax payer over time and it is absolutely insane that it is not.

  45. Capitalists when it comes to making money, but socialist in having the taxpayers cover their expenses. Business as usual in America.

  46. They should name each one The peoples stadium shame to the politicians for even using big corporations names when they didn't build them I used to love all kinds of sports the last 20years I am not a fan I don't watch them and don't support them for reasons like those

  47. Ask Lewis Black about this. He has a comedy routine for this. Something about getting a teacup and pissing your pants and seeing how much piss goes in the cup.

  48. The pro athletes, with their six, seven, & eight figure salaries, should form an investment pool to finance stadium production.

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