Page 2 of 8 FirstFirst 1234 ... LastLast
Results 11 to 20 of 77
  1. #11
    Mr Anderson's Avatar
    Mr Anderson is offline Jersey Retired
    Join Date
    Dec 1969
    Posts
    7,692

    Re: Stadium Bill to be introduced Monday for $300 Mill

    Quote Originally Posted by "i_bleed_purple" #1093217
    Quote Originally Posted by "Purple Floyd" #1093216
    Taxing sports merchandise, liquor, luxury suites, hotels and event tickets won't affect a whole lot of businesses.
    Try taking that debate to the Liquor store or hotel owners who already are barely making it in this economy.
    Where do liquor stores buy from? Other liquor stores or the manufacturer? I'm not certain exactly how the whole liquor situation works in Minny, but if they buy from breweries and distilleries, this tax won't affect them. If they buy from other liquor stores, then it will. This also doesn't specify whether this tax will affect purchase of goods for resale, or just the purchase from the end consumer.
    In New Jersey, and I think it might be like this in Minnesota too, stores buy from distributors, who buy from manufacturers and importers.

    Last year, there was a "sin tax" raised in NJ. Of course, the media didn't do due diligence regarding the law, and simply stated that there was going to be price increases due to a new tax. That resulted in probably 1 in 5 of our customers coming and asking us "how much are your prices going up" or "when are the prices going up?" And I'd have to explain to them: "The tax is being implemented at the distribution level and obviously does not effect the price of products they've already purchased. So when their current supply, purchased prior to the tax increase, diminishes we'll be buying the more expensive product and subsequently raising our prices by $.50 - $2.00 depending on the product. When that will be, I'm not sure, as I don't know the contents of their warehouses." And 90% of the time I'd just get a funny look and they'd leave. I must have given that speech 100 times a week for 2 weeks.

  2. #12
    Purple Floyd's Avatar
    Purple Floyd is offline Jersey Retired
    Join Date
    Dec 1969
    Posts
    16,646
    Blog Entries
    1

    Re: Stadium Bill to be introduced Monday for $300 Mill

    Where do liquor stores buy from? Other liquor stores or the manufacturer? I'm not certain exactly how the whole liquor situation works in Minny, but if they buy from breweries and distilleries, this tax won't affect them. If they buy from other liquor stores, then it will. This also doesn't specify whether this tax will affect purchase of goods for resale, or just the purchase from the end consumer.
    It is a sales tax paid during the retail transaction. The state sales tax is already 9% on liquor. So you add another .5% and you might not think it is much, but you are already at 9cents on the dollar to begin with.It does effect sales.

    Ok, but do you think they can raise $30 million just by a 10% increase on tickets?

    63,000 seats, lets say for arguments sake $100 average face value. that's $630,000 per game raised. over 8 games, that's barely over 5 million, and while yes, that does help, that's barely a fraction of what it costs to fund this. It would take 60 years to raise money on ticket sales. Add in probably another 6 million for merchandise, concessions and parking, we're still looking at 30 years or so.
    And that gets to the whole point- They are building stadiums that are not possible to fund without outside revenue sources. no other business can build a facility that their operations cannot generate the revenue to sustain. If it takes that long to pay off the building with user fees you either need to put in more seats and put a good enough product on the field to sell them or you need to build a much more modest facility. I see no reason to embellish it with taxpayer money.


    Since when were trucks being taxed more? It's not mentioned in the article.

    It is mentioned right here in the link from JMCDON00.
    City or county officials interested in the stadium would submit bids that include a financing package for a local share. Aspiring local partners could raise that share with a half-cent increase in their local sales tax, as well as by levying or increasing local sales taxes on liquor, lodging, entertainment, game admission, food and beverage.

    When you raise the local sales tax, everything that is sold in that locality is taxed at the added rate. So if you buy anything in the community that gets the stadium, everything from candy bars to kitchen cabinets to ford 150's will be included in that tax. And that is what I was talking about. .5% of a 35,000 truck is $1750. Now, you can say no big deal but put yourself in the position of a car dealer who has a business in the community that gets the stadium and is subject to the added sales tax. A customer comes in to buy from you but learns they can go 10 miles down the road to the next community that doesn't have that added .5 tax and save themselves 1750 dollars on the purchase of an identical vehicle. Do you think for one second that there will be no impact for that business if that happens?

  3. #13
    JPPT1974's Avatar
    JPPT1974 is offline Starter
    Join Date
    Dec 1969
    Posts
    254

    Re: Stadium Bill to be introduced Monday for $300 Mill

    Well keep your fingers crossed. And hope that it passes. Sooner or later, the Vikes will need a stadium regardless! Moving out of MN which hopefully they don't do. Or staying in MN. As they are in need of a stadium, big time!
    NFL 2013 is Here!

  4. #14
    tastywaves's Avatar
    tastywaves is offline Ring of Fame
    Join Date
    Dec 1969
    Posts
    3,889

    Re: Stadium Bill to be introduced Monday for $300 Mill

    Quote Originally Posted by "Purple Floyd" #1093238
    Where do liquor stores buy from? Other liquor stores or the manufacturer? I'm not certain exactly how the whole liquor situation works in Minny, but if they buy from breweries and distilleries, this tax won't affect them. If they buy from other liquor stores, then it will. This also doesn't specify whether this tax will affect purchase of goods for resale, or just the purchase from the end consumer.
    It is a sales tax paid during the retail transaction. The state sales tax is already 9% on liquor. So you add another .5% and you might not think it is much, but you are already at 9cents on the dollar to begin with.It does effect sales.

    Ok, but do you think they can raise $30 million just by a 10% increase on tickets?

    63,000 seats, lets say for arguments sake $100 average face value. that's $630,000 per game raised. over 8 games, that's barely over 5 million, and while yes, that does help, that's barely a fraction of what it costs to fund this. It would take 60 years to raise money on ticket sales. Add in probably another 6 million for merchandise, concessions and parking, we're still looking at 30 years or so.
    And that gets to the whole point- They are building stadiums that are not possible to fund without outside revenue sources. no other business can build a facility that their operations cannot generate the revenue to sustain. If it takes that long to pay off the building with user fees you either need to put in more seats and put a good enough product on the field to sell them or you need to build a much more modest facility. I see no reason to embellish it with taxpayer money.


    Since when were trucks being taxed more? It's not mentioned in the article.

    It is mentioned right here in the link from JMCDON00.
    City or county officials interested in the stadium would submit bids that include a financing package for a local share. Aspiring local partners could raise that share with a half-cent increase in their local sales tax, as well as by levying or increasing local sales taxes on liquor, lodging, entertainment, game admission, food and beverage.

    When you raise the local sales tax, everything that is sold in that locality is taxed at the added rate. So if you buy anything in the community that gets the stadium, everything from candy bars to kitchen cabinets to ford 150's will be included in that tax. And that is what I was talking about. .5% of a 35,000 truck is $1750. Now, you can say no big deal but put yourself in the position of a car dealer who has a business in the community that gets the stadium and is subject to the added sales tax. A customer comes in to buy from you but learns they can go 10 miles down the road to the next community that doesn't have that added .5 tax and save themselves 1750 dollars on the purchase of an identical vehicle. Do you think for one second that there will be no impact for that business if that happens?
    If it was only $175, would you feel better

  5. #15
    i_bleed_purple's Avatar
    i_bleed_purple is offline Jersey Retired
    Join Date
    Dec 2005
    Location
    Canadialand
    Posts
    16,778
    Blog Entries
    2

    Re: Stadium Bill to be introduced Monday for $300 Mill

    Quote Originally Posted by "tastywaves" #1093287
    Quote Originally Posted by "Purple Floyd" #1093238
    Where do liquor stores buy from? Other liquor stores or the manufacturer? I'm not certain exactly how the whole liquor situation works in Minny, but if they buy from breweries and distilleries, this tax won't affect them. If they buy from other liquor stores, then it will. This also doesn't specify whether this tax will affect purchase of goods for resale, or just the purchase from the end consumer.
    It is a sales tax paid during the retail transaction. The state sales tax is already 9% on liquor. So you add another .5% and you might not think it is much, but you are already at 9cents on the dollar to begin with.It does effect sales.

    Ok, but do you think they can raise $30 million just by a 10% increase on tickets?

    63,000 seats, lets say for arguments sake $100 average face value. that's $630,000 per game raised. over 8 games, that's barely over 5 million, and while yes, that does help, that's barely a fraction of what it costs to fund this. It would take 60 years to raise money on ticket sales. Add in probably another 6 million for merchandise, concessions and parking, we're still looking at 30 years or so.
    And that gets to the whole point- They are building stadiums that are not possible to fund without outside revenue sources. no other business can build a facility that their operations cannot generate the revenue to sustain. If it takes that long to pay off the building with user fees you either need to put in more seats and put a good enough product on the field to sell them or you need to build a much more modest facility. I see no reason to embellish it with taxpayer money.


    Since when were trucks being taxed more? It's not mentioned in the article.

    It is mentioned right here in the link from JMCDON00.
    City or county officials interested in the stadium would submit bids that include a financing package for a local share. Aspiring local partners could raise that share with a half-cent increase in their local sales tax, as well as by levying or increasing local sales taxes on liquor, lodging, entertainment, game admission, food and beverage.

    When you raise the local sales tax, everything that is sold in that locality is taxed at the added rate. So if you buy anything in the community that gets the stadium, everything from candy bars to kitchen cabinets to ford 150's will be included in that tax. And that is what I was talking about. .5% of a 35,000 truck is $1750. Now, you can say no big deal but put yourself in the position of a car dealer who has a business in the community that gets the stadium and is subject to the added sales tax. A customer comes in to buy from you but learns they can go 10 miles down the road to the next community that doesn't have that added .5 tax and save themselves 1750 dollars on the purchase of an identical vehicle. Do you think for one second that there will be no impact for that business if that happens?
    If it was only $175, would you feel better
    lol good catch.

    $175 extra on a $35,000 truck isn't a whole heck of alot.

  6. #16
    BloodyHorns82's Avatar
    BloodyHorns82 is offline Jersey Retired Feed The Frog Champion
    Join Date
    Jun 2006
    Posts
    9,691

    Re: Stadium Bill to be introduced Monday for $300 Mill

    No matter which way you slice it .5% is basically nothing. I think the issue is that it boils down to a matter of principals for people. That .5% is more or less a free donation to a rich guy/group. It's hard to look past that.

  7. #17
    jmcdon00's Avatar
    jmcdon00 is offline Jersey Retired Snake Champion, Moto Trial Fest 2: Mountain Pack Champion, LL City Truck 2 Champion, Arithmetic sequence Champion, Troops Tower Defense Champion
    Join Date
    Aug 2006
    Posts
    8,281

    Re: Stadium Bill to be introduced Monday for $300 Mill

    Quote Originally Posted by "i_bleed_purple" #1093207
    Quote Originally Posted by "jmcdon00" #1093203
    The bill would raise money for the stadium with a 10 percent state sales tax on sports memorabilia, along with a sales tax on luxury seats at the new stadium and on digital video recorders, and proceeds from stadium naming rights and a football-themed state lottery game.
    5 new taxes! B)
    City or county officials interested in the stadium would submit bids that include a financing package for a local share. Aspiring local partners could raise that share with a half-cent increase in their local sales tax, as well as by levying or increasing local sales taxes on liquor, lodging, entertainment, game admission, food and beverage.
    6 more new taxes! B)

    All during a lockout!
    :sick: :sick: :sick: :sick: :sick: :sick: :sick:
    Does it truly bother you that much you'l be paying mere pennies more when you buy liquor, tickets, hotel rooms and tickets, and 10% on jerseys and luxury suites in return for the Vikings staying in Minnesota?
    The money out of my own pocket does not bother me much. Simply because it wont amount to much.

    What bothers me is that 20,000 minnesotan's are going to lose there health insurance, shelters for battered woman are losing half there funding, benefits to the elderly and disabled are being reduced. Among others.

    I can accept that those are necessary cuts, and that additional taxes would do more harm than good.

    What I can't accept is to then raise taxes to give a $300,000,000.00 subsidy for an entertainment company that already generates $9,000,000,000.00 annually.

    Not trying to turn this into a political argument, but to me it seems absurd to spend the money during the biggest financial hardship this state and country has seen in my lifetime.

  8. #18
    jmcdon00's Avatar
    jmcdon00 is offline Jersey Retired Snake Champion, Moto Trial Fest 2: Mountain Pack Champion, LL City Truck 2 Champion, Arithmetic sequence Champion, Troops Tower Defense Champion
    Join Date
    Aug 2006
    Posts
    8,281

    Re: Stadium Bill to be introduced Monday for $300 Mill

    Quote Originally Posted by "BloodyHorns82" #1093296
    No matter which way you slice it .5% is basically nothing. I think the issue is that it boils down to a matter of principals for people. That .5% is more or less a free donation to a rich guy/group. It's hard to look past that.
    +1, It is about principal more than anything.

  9. #19
    BadlandsVikings's Avatar
    BadlandsVikings is offline Jersey Retired
    Join Date
    Apr 2006
    Posts
    26,572

    Re: Stadium Bill to be introduced Monday for $300 Mill

    How much money would the city(Hotles, stores ect.) lose in 8 weekends a years plus any playoffs games if the team moved?

  10. #20
    jmcdon00's Avatar
    jmcdon00 is offline Jersey Retired Snake Champion, Moto Trial Fest 2: Mountain Pack Champion, LL City Truck 2 Champion, Arithmetic sequence Champion, Troops Tower Defense Champion
    Join Date
    Aug 2006
    Posts
    8,281

    Re: Stadium Bill to be introduced Monday for $300 Mill

    Quote Originally Posted by "BadlandsVikings" #1093303
    How much money would the city(Hotles, stores ect.) lose in 8 weekends a years plus any playoffs games if the team moved?
    Sorry if I don't shed any tears for those Hilton heiresses losing out on a few reservations during the slow winter months. :sick:

Page 2 of 8 FirstFirst 1234 ... LastLast

Similar Threads

  1. No Vikings Stadium bill to be presented during Leg
    By i_bleed_purple in forum Vikings Fan Forum
    Replies: 5
    Last Post: 07-22-2011, 02:24 AM
  2. SoCal city rejects state bill for NFL stadium project
    By Zeus in forum General NFL Discussion
    Replies: 9
    Last Post: 09-11-2009, 10:50 AM
  3. Replies: 15
    Last Post: 09-21-2007, 06:39 PM
  4. House committe votes in favor of Vikings stadium bill
    By HandsTeam in forum Vikings Fan Forum
    Replies: 25
    Last Post: 05-05-2006, 09:24 PM
  5. Minnesota Vikings Stadium Bill Stays Alive At Capitol
    By singersp in forum Vikings Fan Forum
    Replies: 24
    Last Post: 04-07-2006, 05:13 AM

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •