Economy
Why taxpayer-funded stadiums rarely pay off locally
HERE’S THE INTERESTING PART
Billionaire sports team owners passionately love socialism, but only when it applies to their own construction costs. They routinely extort cities into coughing up billions in taxpayer money to build colossal arenas, promising a localized economic boom. Unsurprisingly, independent economists constantly find these stadiums are massive, parasitic financial black holes for the gullible public.
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