I probably didn't get this right, for surely this makes no sense."
Dateline: Indianapolis, May 10, 2013
Governor Mike Pence today signed legislation authorizing loans to the Indianapolis Motor Speedway in amounts up to five million dollars a year for the next twenty years. The loans will be repaid by additional taxes on tickets and other products.
What?
The taxpayers sink their money into the speedway, then the taxpayers pay "additional taxes" on the IMS products in order to pay themselves back.
The improvements proposed will "make it easier to sell tickets."
I am totally confused. I think. Either that, or it is another $100,000,000 taxpayer boondoggle.
9 comments:
Nothing to do but shake the head and groan.
Sounds like government as usual to me. It's like paying estimated tax, which is paying tax early, and then being penalized if you don't pay it. What? You get fined if you don't pay better than on time? Right.
Shelly, groaning and reminding ourselves that we picked the leaders.
Shark, unfortunately, it is government as usual. We just seem to get numb to it all. You are so right: it is just wrong to pay in advance and suffer penalty for failure to do so.
Criminy. It's almost as corrupt as Chicago and Illinois.
Lin, Illinois, Indiana, or Timbuktu, it is as Lord Acton said, "Power tends to corrupt, and absolute power corrupts absolutely." Heigh-ho.
An astute observer once reported that anyone wanting to govern should, by that very ambition, be disqualified from governing.
Chuck, I certainly concur with that assessment. Lord Acton said further, "Great men are almost always bad men."
That typical government. They take your taxes to aid so called independent corp. then sell tickets at costly prices. Then raise taxes on the tickets.
They may take my taxes for the speedway, but they will not get any from any tickets. I don.t attend the races and won't. Bob
Bob, me too. Never have, never will.
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