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The bill to tax payers for bond-funded stadiums? $4 billion

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Whenever the subject of publicly-financed ballparks and stadiums comes up someone always makes the distinction that so-and-so’s ballpark wasn’t paid for with taxpayer dollars but, rather, was paid for with municipal bonds.

Muni bonds, however, are not free.  As Bloomberg notes, just because the money doesn’t come from a city or state’s general fund doesn’t mean taxpayers aren’t footing the bill. They are, because the interest paid to investors on such bonds are not taxable. The result:

Tax exemptions on interest paid by muni bonds that were issued for sports structures cost the U.S. Treasury $146 million a year, based on data compiled by Bloomberg on 2,700 securities. Over the life of the $17 billion of exempt debt issued to build stadiums since 1986, the last of which matures in 2047, taxpayer subsidies to bondholders will total $4 billion, the data show.

Stadiums which directly enrich millionaire and billionaire sports owners and their allied businesses.

Reports of shots fired outside Nationals Park career fair, at least one injured

WASHINGTON, DC - JULY 20: A general view in the third inning of the Washington Nationals and New York Mets game at Nationals Park on July 20, 2015 in Washington, DC.  (Photo by Rob Carr/Getty Images)
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There are breaking reports of a gunman outside Nationals Park in Washington who open fired during a career fair for concession workers at the ballpark.

Washington D.C. police have been dispatched. There are reports of at least one person injured after having been shot in the face. Police are advising people to avoid the South Capitol area and areas surrounding Nats Park.

More as we learn more.

 

Dominican Journalist Reports that Yordano Ventura was robbed as he lay dying

CHICAGO, IL - MAY 22:  Starting pitcher Yordano Ventura #30 of the Kansas City Royals delivers the ball against the Chicago White Sox at U.S. Cellular Field on May 22, 2016 in Chicago, Illinois.  (Photo by Jonathan Daniel/Getty Images)
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There is a disturbing report out of the Dominican Republic, yet to be confirmed by police, but in wide circulation thanks to a series of tweets from Hall of Famer Pedro Martinez. The report: that looters encountered a still alive Yordano Ventura after his automobile accident, robbing of him his World Series ring and other possessions, before leaving him to die.

The report comes from Dominican Republic journalist Euri Cabral, who made the claim on a radio station. His comments were picked up by Martinez, who tweeted about it in Spanish. The tweets, collected and translated by the Royals Review blog:

“How outrageous to know that a life like Yordano’s could have been saved had it not been that they looted him the way he was looted . . . Now it is more painful to know that Yordano remained alive after the accident and instead of someone to help him, they robbed him and let him die . . . I hope an investigation will be carried out, because if there is any specific evidence of this, I would feel a great deal of shame for my country.”

As for the state of details which are currently confirmed, Rustin Dodd and Maria Torres of the Kansas City Star report that Ventura crashed his Jeep after leaving an annual festival, losing control and hitting a guardrail in a mountainous area in foggy conditions. Ventura was not wearing a seatbelt at the time and was ejected from the vehicle.

Ventura’s family is said to be pushing for further investigation and clarification as to Cabral’s claims. We will obviously followup with anything Dominican authorities say on the matter.