Both political parties have supported massive redistribution of taxes from working people to the gridiron’s spoiled 1-percenters. Public-private sports palace boosters employ the same bogus economic development math as the federal government’s infamous Solyndra green energy loans, stimulus rip-offs and jobs programs. Citizens are promised an enormous multiplier of jobs and benefits in return for their “investments.” But instead they’ve been saddled with a field of schemes.
Sports economists have concluded repeatedly that the effects of stadium subsidies on employment and economic activity are negligible — or even negative. Scott Wolla of the St. Louis Federal Reserve reported earlier this year, “In a 2017 poll, 83 percent of the economists surveyed agreed that ‘Providing state and local subsidies to build stadiums for professional sports teams is likely to cost the relevant taxpayers more than any local economic benefits that are generated.'”