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This headline is a bit misleading. Of course the money to pay for the stadium will have be recovered, and consumption taxes related to the increased demand due to the Bears relocation is the logical way to do it. When the word “tax increase” is used people will quickly assume property or state income tax increases, which does not appear to be the case.
If so, the People assumed nothing incorrectly.
Locals will pay additional taxes if the Bears are allowed to maul their way into Indiana. That’s what these sweetheart tax abatement deals are designed to do – pass the costs from the Billionaires who own these businesses on to the local taxpayers instead.
It’s not just the flashy deals like this Bears nonsense, it’s common practice to socialize costs and privatize gains.
Charles, + 1
So we’re going to pay for this stadium on the assumption that fans in Chicago will find the drive so miserable they will just book rooms?
They play, best case, 12 games a year.
The math isn’t adding up. This bill should specify that a financial shortfall in paying the bonds triggers an automated increase in state income tax to pay for it. Let Republicans be clear they won’t pay for this with yet another cut in services.
There will be, though, fans of visiting teams who will spend up to two nights in hotels and have meals during their stays.