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Sunday, May 20, 2012

Billionaires for Handouts

That old phrase that the squeaky wheel will always get the grease is so true.  Especially, if you are a billionaire like Joe Ricketts.  Joe is self funding several right wing political action groups in a self declared war against President Obama to get this country back on track fiscally.  Joe is all in favor of cutting entitlements and anything in the federal budget when it comes to the lower classes.  In his mind he sees it as handouts to people that don't deserve it.  Especially, those lazy loafing blood sucking people on Social Security.  Just because you paid into Social Security all your life doesn't mean you have to take the benefits due you.

On the other hand, Joe is for community benefits.  Take the Chicago Cubs for instance and Wrigley Field.  Joe is looking for a blank check from the taxpayers to rebuild his field.  It's for the children damn it and it is the right thing to do.  I found this and the picture over at Think Progress...

That means $300 million is needed for the ballpark proper.

 Half would come from the team, presumably in increased revenue from more signage inside Wrigley and retail and other entertainment in what amounts to a game-day carnival on Waveland Avenue on Wrigley’s north side and Sheffield Avenue to the east.

 And half would come from $150 million or so in bonds to be retired with increased revenue from the existing city and Cook County amusement taxes on ticket sales. Specifically, debt service would get the first 6 percent in growth above a base level of around $15 million a year now.  

 But it’s a little more complicated than that.

 The team also wants a 50 percent cut of any increase in amusement tax revenue growth above 6 percent. And unlike the bonds, which would be retired in 30 or 35 years, that would be forever.

It's for the children that Joe needs to put that money in his pocket.  And as Judd and Josh who wrote this article pointed out, the fifty percent cut of the amusement tax is in perpetuity.  How else is poor old billionaire Mr. Joe Ricketts supposed to pay for enough grease to submerge his squeaky wheels at a depth deeper than the Titanic?

Back to Joe Ricketts point.  We have to have a fiscally responsible government that knows how to control money and deposit the checks in billionaires checking accounts.  I'm sure he has a plan or two to hire a couple of servants and put this economy back on track.

When it comes to politics and screwing yourself over I am thinking that Joe Ricketts should be a professor.  Rick Telander over at the Chicago Sun Times put it best.   Did it ever dawn on this foot-in-rich-mouth family that Mayor Rahm Emanuel was Obama’s chief of staff and that they need Emanuel’s help to float any of the bonds and tax schemes they want to refurbish their own park?

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