Gladiator coliseums to keep the masses entertained... :-)
http://www.alternet.org/economy/blac...g-back-new-era
http://www.aei.org/publication/a-clo...dium-subsidies
Gladiator coliseums to keep the masses entertained... :-)
http://www.alternet.org/economy/blac...g-back-new-era
http://www.aei.org/publication/a-clo...dium-subsidies
BUMP! Need more sources.
http://www.detroitnews.com/story/new...rena/30084375/
The $450 million project is 58 percent publicly funded.
, the Red Wings released a statement defending the deal, and claiming "The majority of this development is being privately financed, and no city of Detroit general funds are involved whatsoever." While the statement is factually correct to some extent—the city's general fund isn't involved—the part about a "majority" of the project's funding coming from private entities is a bit suspect. According to Crain's Detroit Business, of the $450 million in bonds issued to pay for the project, $250 million will be paid off by Detroit's Downtown Development Authority [[DDA) via its ability to levy property taxes. While the Red Wings' statement about city's general fund is a clever piece of misdirection, the narrative of majority private funding isn't supported by facts. The DDA, a government agency, bears responsibility for more than half the funding.
http://detroit.curbed.com/archives/2...of-stadium.php
So we're getting a new coliseum via property tax assessments on the backs of those who choose to remain in Detroit proper and make it "a better place". All hail Mike Ilitch, all hail the DDA!
I guess time will tell... what really constitutes better in this world?Quote:
Originally Posted by Honky Tonk