Welfare for Billionaires ~ GOV-ment picking winners and losers..
So you may have caught word of Apple going to Washington to talk about taxations policies ~ and a few have thought that Apple's roughly 30% taxation rate made them takers...
Well wait until you hear about non taxable organizations such as the NFL NBA NHL & pro golf association being tax exempt !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
MLB use to once also enjoy no taxes until that sport figured they would rather not reveal the salaries of its management members and thus instead gave up their no tax status to keep the fgures they paid themselves $$$ they hidden from inquiry.
Wait a minute don't most of the owners who own such franchises aren't they billlionaires ? wtf why are we offering welfare and tax exemptness to freaking billionaires who given the NFL example made 9 billion in profits last year and didn't pay a dime in income tax ?
SO why the F are we giving what amounts to welfare to FREAKIN billionaires ?
Is it so as to keep the masses entertained while gov-ment robs them and their children childrens blind ?
In 2010, Andrew Delaney, a Vermont Law School student, put together a fascinating paper examining the tax status of the NFL and found that the NFL was working like a "glorified tax shelter." Delaney explains:
Through for-profit companies, the NFL sells licenses to use NFL intellectual property, broadcast games, etc, making a ton of money. That money is then distributed to the individual teams. The individual teams, in turn, pay their "dues and assessments" to the NFL. I don't intend to mislead -- some taxes certainly get paid here. The teams are considered for-profit and pay regular taxes. The teams' tax liability is significantly reduced, however, when they pay their tax-deductible "dues and assessments." How much and what gets taxed is just not publicly available. And it should be if the NFL is going to enjoy tax-exempt status.
Delaney ultimately concludes that "if the NFL isn't violating the letter of nonprofit status, it's certainly violating the spirit."
The important thing here is that we the people granted the NFL this tax exemption, even if it was decades ago (Just as we granted the leagues the anti-trust exemption for negotiating television broadcast contracts.). As a result, we can revoke that exemption if the league blacks out its fans, forces fans to pay for personal seat licenses, extorts public money from municipalities by threatening to move teams, etc. The NFL may technically be a non-profit, but it sure as hell isn't acting in the public interest.