: News Article:
McGuinty to cut tax break on sports tickets. Edit - McGuinty's proposal canned
View Single Post
03-01-2012, 08:29 AM
Skate or Die!
Join Date: Dec 2007
What I don't understand is that McGuinty claims that this type of subsidy costs the province about $15 million a year.
They'll lose more than that if just one team (i.e. the Sens) folds and moves elsewhere. I guarantee that the Sens generate a heck of a lot more than $15 million a year in taxes! They probably generate that much just on the income tax of the players! So if the team moves, all the sales tax from all of those tickets disappears as well as all the sales tax from all of the merchandise, restaurant spin-off, etc.
THis is very narrow minded thinking on behalf of the Govt. Subsidizing the price of tickets for corporate clients actually provides a net increase in taxation by all of the economic acitivity that a pro sports team generates in a community.
This is a classic knee-jerk political announcement meant to pit one set of voters against the other so that the voters are not taking direct aim at the Govt. Classless and pathetic.
View Public Profile
Find More Posts by slamigo