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October 2, 2008
Safety in the Numbers You Pull Out of Hat: Club’s Number is 103
Noticing New York
You gotta love a blogger who has a bunny for a sidekick.
For today's magic trick, NNY and Bunny explain how to pull numbers out of a hat to get tax payers to help finance a new stadium for every team that wants one.
Who among us would consider it safe to come up with fictional numbers to present to the IRS?
I am thinking about this because I was reading another attorney’s anonymously offered justifications for the transcendently artificial stratagems currently being used to divert public moneys to the financing of sports venues like Yankee Stadium. In connection with this it seems that some rather fictional numbers were submitted to the IRS. It is doubtful that the numbers are any more substantiated than if they were simply pulled out of hat.
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The Yankee Stadium financing presents an excellent example of what is wrong with sports stadium and arena financing in the country in general and in New York in particular. The proposed Atlantic Yards Nets arena is on obvious analog and cousin to the Yankee Stadium financing.
Posted by lumi at October 2, 2008 4:45 AM