Tuesday, December 21, 2004
I know, I have stayed out of the controversy over publicly financing a baseball stadium. CATO came out against it after all. But I guess my confusion in all of this is that the deal was structured in such a way that the money for the ball park would be raised by implementing an incremental gross receipts tax on businesses. If companies are putting up the money, then doesn't this count as private financing? I realize that the money is being coerced. But nowadays all the talk is about social security "privatization." Do you think people contribute to these accounts voluntarily?