Investment Controls and Athletes

Investment Controls and Athletes

For background:

We have already noted earlier how the Federal government sets wages of employees. Or fires employees. as the feds have done with General Motors and Chrysler. Or when the banks are interfered with. Under the guise of being rescued. This happens with federal government bailouts, and it is one of the problems encountered in such action.

Firing employees by government bureaucracy can be a slippery slope, when you also consider how government stimulus affects even entertainers-such as sports stars.

Athletes probably get far too much salary and bonuses for what they do. Much more than CEOs ever do. But they are under the public’s radar. So the media, in its ignorance, let’s them get away with it.

Example: Ball parks and ball clubs are subsidized by state and local taxpayers. Each time a new ball park is built, you can be sure some government body has helped in the financing, whether in cash, tax abatement or bond funding. This an ongoing, long-time subsidy.

These days, Federal stimulus funds are usually backing local and state entities with subsidies. So, in effect, funds are made available to pay athletes.

Always remember: Money is fungible. The payment does not have to be direct. Money can be substituted from one pocket of government or payer to the other, to hide the source of funding.
It adds up to the same total outlay.

The public complains about an executive getting more than a million or so a year of taxpayer money. What about a ball player who operates no business, and hires no one, who makes up to thirty million. and more a year? And may actually be a loser at that?