Great one to read
- Thread starter NYShoreGuy
- Start date
A
anon_ezos2e9wn1ob0
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Oh I feel so bad for those millionaire players. Cry me a river.
i dont bad for the players but every sports team tries to (poorly) pretend to everyone that they operate at a loss every year
Yes, they employ all types of creative accounting. And I believe some (if not all) teams split out revenue from related businesses, such as if they have a sports network like SNY or YES. There was an article in the Post the other day noting that SNY was viewed as the Wilson’s crown jewel because it is so profitable.
Another proof of the fallacy that you can raise taxes and billionaires will pay more tax.Obvious answer is flat tax first proposed in modern era by Barry Goldwater and later by Steve Forbes,but politicians don’t want it as Milton Friedman explained because lobbying for tax benefits gives them campaign contributions.Also reduces need for IRS,tax accountants etc
I will read the article but this whole notion of being upset at effective tax rates is a Marxist/Communist thing. Need to really also account for total taxes paid not redistributive effective tax rates.
And being it's from ProPublica, that's exactly what I'd expect.
And being it's from ProPublica, that's exactly what I'd expect.
So I read this pablum that passes for journalism these days. What a joke. The summary of the article is that through ill-gotten tax returns we were able to ascertain that rich sports team owners are following the law and fully legally save on their tax bills.
