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Saturday, June 5, 2010

Bush and Steinbrenner, Plutocrats using public funds

What do the two George's have in common? They both used public funds to build a baseball stadium and then they kept the profits. They both lied to community oversight Boards, council leaders and political leaders. Using eminent domain to snatch private property from those who cannot afford to fight back, they have the taxpayer pay more than their entire overhead operating such stadiums. Of course, George W. has long since sold his shares. He borrowed $600K, used public funds to underwrite and subsidize the Arena and pocketed $30M of the public money.

All of the public continues to subsidize the Stadium used by a small fraction of the community.

The only way baseball is profitable is having public taxes and tax breaks pay ALL overhead. The balance is kept by billionaires such as Steinbrenner.

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