bendog
Diamond Member
I didn't have the time to check this 200 million figure. It is true Walker cut the Univ of Wisc system 300 million over 2 years. But, "giving 200 mil" for an arena didn't make sense. Govts don't just give it up front.
It gets better, actually. Walker's plan prolly has zero chance of getting passed but that doesn't make it less amusing. He proposes the state issue 200 million in bonds to get the arena built. Fair so far, and that's how states build things: issue bonds, which are then paid for with tax dollars ... you know, investors get their 200 mil back over time, along with interest.
But Walker's clever. He said "no new taxes." So his proposal is a bit ... unique. The money to pay off the bonds has to come from "additional" taxes coming from the arena. The players will make more. So, anything in excess of their income taxes before the arena, will go to the bonds. The article is a little unclear, imo, but I suspect that additional taxes from the team itself, and I suppose any additional taxes collected on parking or concessions, would go to the arena.
Pols usually just use general revenue to pay off bonds, and say "oh well the team brings in more taxes overall."
Plan to help fund Milwaukee Bucks new arena proposed by Wisconsin Governor Scott Walker - ESPN
It gets better, actually. Walker's plan prolly has zero chance of getting passed but that doesn't make it less amusing. He proposes the state issue 200 million in bonds to get the arena built. Fair so far, and that's how states build things: issue bonds, which are then paid for with tax dollars ... you know, investors get their 200 mil back over time, along with interest.
But Walker's clever. He said "no new taxes." So his proposal is a bit ... unique. The money to pay off the bonds has to come from "additional" taxes coming from the arena. The players will make more. So, anything in excess of their income taxes before the arena, will go to the bonds. The article is a little unclear, imo, but I suspect that additional taxes from the team itself, and I suppose any additional taxes collected on parking or concessions, would go to the arena.
Pols usually just use general revenue to pay off bonds, and say "oh well the team brings in more taxes overall."
Plan to help fund Milwaukee Bucks new arena proposed by Wisconsin Governor Scott Walker - ESPN