Video instructions and help with filling out and completing Who Form 8815 Taxpayers

Instructions and Help about Who Form 8815 Taxpayers

Applause Music every year over a hundred million people gather around their televisions surrounded by loved ones to watch the big game and the pinnacle event of the most profitable sports league in the world is more often than not played in a new state-of-the-art stadium with super sized digital displays retractable roofs luxurious box seats and Suites teams generally are in the lion's share of the revenue from the stadium but for 28 of the 32 teams it's the taxpayers in the team's host city who paid to build it if the privately owned teams earn the stadium's revenue why are they built with public money a new NFL stadium is being built nearly every year and their price tags are reaching into the billions this chart shows all the different home fields NFL teams have played in since 1960 stadiums built in the 70s and 80s have lasted on average over 30 years but now a stadium's lifespan may be less than two decades Washington's owners started asking for a new stadium back when FedEx Field was only 17 years old though some stadiums like the Giants Jets MetLife Stadium are built with 100% private financing public tax dollars have financed the vast majority of NFL stadiums built in the last 20 years that's over 7 billion in public money going towards building and renovating NFL stadiums NFL owners argue that a new stadium will generate new construction jobs while the venue is being built and all the new spending from ticket sales hotels parking tourism would cascade into the community the wider area and would create a boom in the local economy I asked an urban planning economist if stadiums really are a good public investment most of the stadiums we have built in United States they do not provide any positive impact most of them what else you could have done with this money let's say they are raising 200 million dollar and there is investing in done stadium instead of doing that if they spend that money on roads infrastructure shopping malls or public are things that benefit the whole public not just football fans for team owners new stadiums mean in profits they sell the name of the stadium to other corporations host a Super Bowl and owners maximize revenue by building more and more luxury suites and club seating in the place of general admission seats over a third of the seats are premium in the Cowboys 82,000 seat stadium and a luxury suite can cost as much as $30,000 per game the push for new stadiums comes down to increasing profits for the owners but cities try to meet these demands because there's more to a football franchise in the bottom line residents want teams and the hometown pride that comes with it even for people who never attended a game there's a shared experience a collective enthusiasm for the home team in one poll three-quarters of any annapolis citizens said losing the city's NFL team would hurt the city compared to 68 percent who said it would hurt to lose all the cities museums this is coming from a city and state that funded 86 percent of their new stadium even though the previous stadium still owes millions in debt t waters they have successfully tied this stadium to a civic pride and and that's why enough the culture of spending public money on these state is thriving when cities refuse to build new stadiums owners threatened to move their teams to somewhere that will that's what happened in 2016 the st. Louis and 2017 to San Diego and Oakland new stadiums aren't the economic powerhouses owners promise they'll be but as long as there are more cities that want a home team than there are franchises it looks like the taxpayers are gonna keep footing the bill