Austin loses state funding for Formula One race

[ramrod]

Biggest thing that bothers me are the taxes. They have ag exemption on the entire Circuit of Americas facility.

[timberking]

Count me as a redneck.

[Jspradley]

No doubt it brings a lot more money back into the city than the tax expenditure but at what point does it just become straight up bribery?

If sports weren't essentially a secular religion for people there is no way all of the taxpayer funding would ever fly. It's corruption plain and simple

[xman59]

Big sporting events is a Mecca for human sex trafficking . Lot of wealthy dudes for all over the world want a prostitute for the night or weekend

give them direction to the closest petro,,,

[Jspradley]

Some of you are not understanding the simplicity of how it works. The business in this case F1 may not make money but that doesn't mean the city and state dont benefit greatly.

Let use Dell Computers for example. They wanted to set up shop in Austin proper but wanted a tax break for doing so. Austin said no. Round Rock said yes and have them a tax break for 20 years. Dell still paid sales tax, the city just gave them a break. If you dont think the city of Round Rock, surrounding areas and all small businesses didn't win on that deal in the long run you are mistaking.

These deals are not always winners. My guess on the F1 knowing how much money comes to town is the city and state come out ahead.

Money not taken is not the same thing as money given

[Take Dead Aim]

No doubt it brings a lot more money back into the city than the tax expenditure but at what point does it just become straight up bribery?

If sports weren't essentially a secular religion for people there is no way all of the taxpayer funding would ever fly. It's corruption plain and simple

Dell isn't a sports business and it flew. I can name all kinds of businesses that were given incentives that were not sports related. Cabelas in Buda is one of them.

[Take Dead Aim]

Money not taken is not the same thing as money given

That is semantics. in the end the govt entity is out "x amount". I'm not arguing for F1 to get the money. I am saying it is done often and for good reason at times. Giving Amazon a tax break for a HQ in your area is an huge win if you like business, growth etc. Not saying Amazon needs the tax break or money but it's a game and unfortunately everyone plays it.

[Landrover]

Dell isn't a sports business and it flew. I can name all kinds of businesses that were given incentives that were not sports related. Cabelas in Buda is one of them.

Blasphemy!!!!![emoji33][emoji2962][emoji1787][emoji1787][emoji1787][emoji1787][emoji1787]

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