The Denver post reports today that the Colorado legislature is about to hand out $50 mil per year in tax breaks to developers of a combination new home for the Great Western Stock Show and a NASCAR track, and also for "mountain development to host the Winter Olympics".
So, the suffering CO taxpayers, in danger of having higher education funding cut in half, are going to subsidize a NASCAR track, that will be used maybe 2 weeks a year, the Stock Show, which has been here forever, and the Winter Olympics, which the voters here 30 years ago said they don't want, and probably still don't. Another transfer of wealth from the general public to the already wealthy. NASCAR, by the way, said they need $150 mil, and should have been told to stick it in their tailpipe
One of the legislators said that CO needs to do this to compete with other states that are offering similar breaks. Good idea. Let's not let anyone be dumber than us. I imagine they will pass this in a way that it does not have to go before the voters, because we are far less bribeable by lobbyists and would likely give his idea the middle finger it deserves.
Since I teach Economics, I can't start one of these good news/bad news entries with the good. Sorry. The good news is that Ken Burns, producer of the great PBS series "Baseball", "Jazz" and "The War" has produced a multi-part series on our National Parks that will air this September. If it is even half as good as his other work, it will be well worth watching. Read the Daily Camera story here.