Monday, July 30, 2007

Taxpayers come through for DeVos family

The Orlando Magic will be getting a new $480 million arena by 2010 as part of a $1.1 billion downtown development plan. The DeVos family, owners of the Magic, pledged $158 million toward the project and agreed to cover any cost overruns. The remaining cost will be covered by a tourist tax.

The team stands to
gain huge profits -- perhaps tens of millions more than it earns now -- from selling luxury suites, advertising, etc.

My reaction? Let me quote snarky Mike from AOL's FanHouse:
I, for one, will be able to sleep better at night knowing that the citizens of Orlando are coming through for Richard DeVos, who has a net worth of $3.5 billion and is only the 73rd most wealthy person in the U.S. I mean, if this guy was among the top 50 wealthiest people in the country, maybe he could afford to build his own arena, but 73rd? I mean, he's just a few billion dollars away from waiting in line for free milk and government cheese.
Just what the world needs...another wealthy Republican who can't make it alone without help from taxpayers.


Cathleen said...

It's my hope that people are staring to see through this charade, that the "we hate government" crowd is usually busy helping themselves to the cash register... as they complain about that poor mother with three kids who might need some food.

Thieves and hypocrites of the highest order.

Johnny C said...

Let me do the math alright 3.5 billion is what the Amway Dick father is worth? He's only putting up 158 million but he wants the remaining cost picked up vistors to the state? Why not pay for the whole arena himself? It seems to me the only welfare Republicans like to hand out are to those who can write six figure checks out to their election bids.

Larry said...

It's comforting to know that in times of peril, the wealthy can have the treasure of the U.S government, at their disposal.

Too bad the still homeless Katrina victims aren't wealthy enough to tap into that resource.

Anonymous said...

All these comments are spot on. These "anti tax" government republicans are like the sanctimonious preacher "helping kids" by running the orphanage and taking advantage of the children.

These anti taxers yell "government waste!" to divert attention from their back door robbing of the treasury via a rigged tax code and special incentives for their rich buddies.

Cat Chew said...

You might enjoy reading
(maybe enjoy isn't quite the right word)
The Conservative Nanny State
by Dean Baker. You can download it free at this website:
Here's a review from Thom Hartmann at BuzzFlash:

Kathy said...

Cathleen, more people would see through the hypocrisy if the media did their jobs. Oh, wait, the media is owned by the "thieves and hyprocrites."

Johnny C, the DeVos family has certainly done their share of writing checks to Republican politicians.

Larry, good point about the homeless Katrina victims. There's something wrong with a country that builds fancy arenas for overpaid athletes and billionaire owners while thousands of homeless sleep on the streets each night. That speaks volumes about our priorities.

Cat Chew, thanks for the link. I've always respected Dean Baker's opinions, and same goes for Thom Hartmann. I'll be sure to check out both links.

Anonymous said...

Everyone, check out the website in Grand Rapids, Michigan.

They are dedicated to reporting the news, the news won't report in West Michigan. Especially on rich families like the DeVos and all the corporate welfare they have gotten off the backs of the aveage guy and gal.

There are some great articles on this family and their "dirty dealings" posted - check it out. It fights right in with this article you are all upset about.