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Voters who would otherwise balk at public subsidies for businesses are approving huge sums for the construction of sports arenas across the country. Voters in Washington state approved by a narrow 51 percent construction of a new, $425 million stadium for the Seattle Seahawks football team.
Experts say such arrangements are commonplace.
Critics point out that state taxpayers aren't the only ones who pay; taxpayers throughout the nation indirectly subsidize such stadium deals since the state and local bonds that finance construction are exempt from federal income tax. Source: Michelle Malkin (Seattle Times), "If They Build It, You
Will Pay," Wall Street Journal, June 25, 1997. |
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