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Senator Tom Coburn’s “Wastebook 2012”

by on November 14, 2012

For a little light reading about how the NFL and food stamp users are ripping us off, check out the 200 page “Wastebook”

The National Football League (NFL), the National Hockey League (NHL), and the Professional Golfers’ Association (PGA) classify themselves as non-profit organizations to exempt themselves from federal income taxes on earnings. Smaller sports leagues, such as the National Lacrosse League, are also using the tax status. Taxpayers may be losing at least $91 million subsidizing these tax loopholes for professional sports leagues that generate billions of dollars annually in profits.28 Taxpayers should not be asked to subsidize sports organizations already benefiting widely from willing fans and turning a profit, while claiming to be non-profit organizations.

http://www.coburn.senate.gov/public/index.cfm?a=Files.Serve&File_id=b7b23f66-2d60-4d5a-8bc5-8522c7e1a40e

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One Comment
  1. 14allnall41's avatar

    Wow! I had no idea!!! Govt wouldn’t have to raise our taxes if they’d just make businesses pay the rightful taxes they actually should. (and that includes G.E.!)

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