Billionaire Has Millions To Smear Obama, Demands Massive Taxpayer Subsidy For Baseball Stadium
Source: ThinkProgress
This week, the New York Times reported that Joe Ricketts, a right-wing billionaire and founder of TD Ameritrade, is soliciting multi-million dollar ad proposals to attack President Obama. One such proposal, leaked to the paper, was a $10 million, racially-charged campaign entitled The Defeat of Barack Hussein Obama: The Ricketts Plan to End his Spending for Good. The proposal, which center on Rev. Jeremiah Wright, suggests hiring an extremely literate conservative African-American to break down Obamas image as a metrosexual, black Abe Lincoln.
Ricketts moved quickly to publicly reject the plan after it leaked. His spokesman said it reflects an approach to politics that Mr. Ricketts rejects and it was never a plan to be accepted but only a suggestion. (The statement seems somewhat disingenuous as the Ricketts had already given preliminary approval for the $10 million concept after seeing a separate ad about Jeremiah Wright.) Nevertheless, Ricketts spokesman confirmed his intention spend money attacking Obama through an organization he controls called Ending Spending Political Action Fund.
There is one area, however, where Ricketts is much more open to government spending. Hes seeking a massive government subsidy for the Chicago Cubs, which he owns with his family, to renovate Wrigley Field. Here is the deal the Ricketts family is seeking, via Crains Chicago Business:
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 Wrigleys 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 its 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.
Read more: http://thinkprogress.org/politics/2012/05/19/487214/meet-joe-ricketts-cubs/
get the red out
(13,468 posts)Sucking all the money out of hard working real Americans.
randome
(34,845 posts)Cowardly elected officials giving taxpayer money away. Anyone can make 'demands' of the State. It takes real cowardice to say, 'Okay'.
unkachuck
(6,295 posts)....cowards with their hands stretched out waiting for their kickback loot....it's a corrupt and broken system run by organized criminals....
Unite2DefeatGOP
(25 posts)It boggles the mind. Especially when government is the only thing standing between us and a complete corporate take over. At least we can vote the corrupt politicians out of office! Show up at a stockholders meeting unannounced and you'll get arrested. Etc.
TomClash
(11,344 posts)The best NFL owner built Patriot Place and Gillette Stadium without taxpayer funding.
And most of his political donations go to Democrats.
calimary
(81,404 posts)Texas Rangers stadium. His with his fellow co-owners, that is.
You know, it just seems to me that - if you qualify as a Billionaire, with that big fat "B" - shouldn't you pick up your own tab for stuff like this? Especially since you stand to profit most directly from the results? Seems to me if you're a Billionaire, you can afford to pay for this and not go on the public dole.
Maybe this is the evidence for their own inner self-hatred? I thought people like him hated people "on the public dole." Now he wants to be one of them.
UTUSN
(70,723 posts)lonestarnot
(77,097 posts)Trillo
(9,154 posts)I think the basic scam is to play on a "city's" prestige as perceived by city leaders. The threat has often been: build us a new stadium, with better facilities, or we'll move to "that other city". Just imagine what a "loss" losing the team would be.
I'm guessing local sports fans would probably rally to the cause, dreading the need to travel to see their favorite team.
HubertHeaver
(2,522 posts)If this bunch of perennial losers leaves town (to where?) who will notice?
harmonicon
(12,008 posts)It was the destruction of a landmark, and that worthless POS Daley broke laws and used public funds to do it. I don't expect any better from his scumbag protege.
truthisfreedom
(23,151 posts)pretty definitive message to old Joe and his kids that swift boat politics and sports do not mix well.
aggiesal
(8,921 posts)We are all die hard liberals as well.
When I heard this story, I sent a family email that it's time to
boycott the Cubs.
Stop watching their games, stop buying their merchandise,
until this plan is removed and Papa Ricketts apologizes.
Personally I'd like to see the league force Ricketts to sell the team
for being a bigot. Much like they forced Marge Schott to sell the
Cincinnati Reds for praising Herr Hitler. I don't see the diff. A bigot
is a bigot, is a bigot.
Anyway, when I suggested boycotting the Cubs to my brothers &
sisters, not one agreed. In fact I got more backlash then agreement.
INdemo
(6,994 posts)What the hell they dont want a winner they want the revenue and the cheapest way possible for increased profits and the hell with producing a World Series team..all the talk,all the op eds from the Chicago Sports writers is just wishful thinking because these Teabagger millionaires will never produce a winning team..the Reichetts probably bought the right and paid Bud Selig millions in under the table deals in order to bid...No they will never be forced to sell but the fans can by boycotting them..
They want to hold the City of Chicago hostage while they get millions for improvement..Emanuel could really screw them and through his administration condemn the ball park as being unsafe and they would be totally screwed if they would be forced to play their game at where ever...
aggiesal
(8,921 posts)I told my family that I was not willing to give money to an owner that is going to use
that money against me.
Their attitude was "se la vie". If I was going to boycott, I should boycott everything
because most major corporations give money to Republicans.
harmonicon
(12,008 posts)Basically, if you give any money to corporate America for something other than what you need, you're cutting your own throat. The last time i gave the Cubs money was to go to a game in the late 90's. I was thinking about trying to go to one this year though, simply because I will never go again if they "renovate" (i.e., destroy) Wrigley Field.
INdemo
(6,994 posts)building a winning team for the fans..If they are 5 games above 500 or 10 games out,the Cubs will still draw fans and as long as the Ricketts profit from these loyal fans they could care less about winning a WS..So for the few thousand of us that could boycott means nothing because there are those fans that will wait in line and enter a lottery pool to buy tickets.
Marrah_G
(28,581 posts)AnnieK401
(541 posts)I just read that the average food stamp benefit is $133.00 per person per month. I also hear that the average Social Security benefit is $1000 per month. This billionaire wanted $300 million in taxpayer funds to renovate HIS stadium. That says it all.
schmice
(248 posts)But NOT on his own dime. Privatize the profits and socialize the losses.
fascisthunter
(29,381 posts)too bad there are too many republicans willing to do their bidding in this case. But yes... the billionaire set things into motion... the fucking greed head.
47of74
(18,470 posts)I think we should have public ownership of teams, with no individual or organization permitted to own more than 25% of the stock in a team. The NFL and MLB would hate that because it would hurt many of the rich teabagging scum that currently own the teams. But it would put the teams back in the hands of its fans.
NBachers
(17,133 posts)Jed Pork of the 49'ers should be next in line for eviction, right behind Pricketts
progressoid
(49,992 posts)benld74
(9,909 posts)INdemo
(6,994 posts)Its all one big BS story of how they want to build a winner:
Central W L Pct
St. Louis Cardinals 22 17 .564
Cincinnati Reds 20 19 .513
Pittsburgh Pirates 19 21 .475
Houston Astros 17 22 . 436
Milwaukee Brewers 16 24 .400
Chicago Cubs 15 24 .385
onehandle
(51,122 posts)I suggest taking their billions and re-building America.
Their fatty carcases will make excellent Soylent Green.
bupkus
(1,981 posts)And I was a lifelong sports fan and amateur athlete. I hate what this nation's sports addiction is doing to the education system, politics and taxpayers.
Sports: The new opiate of the masses.
freshwest
(53,661 posts)And he's doing exactly what with those millions?
If I could tax his sorry ass to the poorhouse, I would.
Downwinder
(12,869 posts)coalition_unwilling
(14,180 posts)LynneSin
(95,337 posts)Hell towards the end of the 2008 election, Sarah Palin couldn't go more than 3 sentences without bringing up either Rev. Wright or the Weather Underground or both.
It was the lame-ass attempt to Swift Boat Obama that failed miserably.
But this asshole sounds like a typical Tea Party nutjob - Government handouts are bad for everyone but themselves.
proud patriot
(100,713 posts)Douglas Carpenter
(20,226 posts)SemperEadem
(8,053 posts)there is no reason why anyone but him should pay to fix that park, since he's got the money to do it.
LiberalFighter
(51,018 posts)So why are taxes higher? And who suffers?
erpowers
(9,350 posts)It is always interesting how a number of these " we love capitalism" types are more than willing to go to the government to let it pay for what they want.