Mon Oct 27, 2014, 11:00 AM
True Blue Door (2,969 posts)
Taxpayers may be spending $1 billion to reward Steve Ballmer for buying a sports team.
"Billionaire Steve Ballmer bought the Los Angeles Clippers in August for $2 billion, but he could write off as much as half of that amount in taxes by 2030, according to an analysis by the Financial Times.
A tax break for owners of sports franchises would let the ex-Microsoft CEO claim about $1 billion of the team's purchase price from the taxable income he makes over the next 15 years, said the report, published Sunday in the London newspaper (paywall, registration required)." http://www.nbclosangeles.com/news/local/Report-Steve-Ballmer-Could-Claim-1B-in-Tax-Write-Offs-For-Buying-Clippers-280466752.html This may happen, mind you - Ballmer has not yet actually availed himself of the option, so this story is about the Satanic injustice in the tax code, not a slam at Ballmer. Yet. Nonetheless, it does give one visions of guillotines and red-starred berets when you realize that such "incentives" exist against a backdrop of Republicans insisting the government doesn't have the money to provide food stamps, put books in schools, or keep bridges from falling down. I would urge Steve Ballmer not to avail himself of this tax option. The man is already a billionaire and has nothing to gain but ego points from making another billion dollars, and it would be frankly outrageous to put his sports business on the American taxpayer dole to a ten-figure tune. Hopefully this is something that can be fixed in the tax code as well. The option simply should not exist.
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4 replies, 1000 views
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Author | Time | Post |
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True Blue Door | Oct 2014 | OP |
merrily | Oct 2014 | #1 | |
belzabubba333 | Oct 2014 | #2 | |
msongs | Oct 2014 | #3 | |
True Blue Door | Oct 2014 | #4 |
Response to True Blue Door (Original post)
Mon Oct 27, 2014, 11:09 AM
merrily (45,251 posts)
1. And seniors struggle to hold on to their homes despite tripling real estate taxes, as towns help
billionaires build new sports stadiums.
Because job creators. |
Response to True Blue Door (Original post)
Mon Oct 27, 2014, 11:17 AM
belzabubba333 (1,237 posts)
2. sports is such a mindless trough of junk food. doesnt matter what's in it people will pay for it
Response to True Blue Door (Original post)
Mon Oct 27, 2014, 01:25 PM
msongs (65,541 posts)
3. thank your elected democrats + republicans for going along with this sort of thing nt
Response to msongs (Reply #3)
Mon Oct 27, 2014, 02:24 PM
True Blue Door (2,969 posts)