United releases TV ad on stadium: understanding bonds and taxes

In their quest for a new soccer stadium, the New Mexico United have released a new TV ad. We haven’t seen the ad on local TV yet, but you can see it for yourself in this KOAT 7 story. RGF president Paul Gessing adds a bit of balance to the story near the end.

Aside from the usual claims about “jobs” and civic pride the ad relies heavily on the idea that the ballot measure is a “bond” that doesn’t raise taxes. Of course, that is akin to saying that a family should put all of its spending on a credit card because they aren’t actually spending anything right away.

Bonds require taxes in order to be paid off. In this case it is going to require gross receipts tax revenues. And, other priorities like law enforcement and roads will receive fewer dollars than they otherwise would. Finally, of course, taxes COULD go down in the absent of the stadium.

 

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2 Replies to “United releases TV ad on stadium: understanding bonds and taxes”

  1. You conviently forget to mention
    they have to put a tax in place to pay for the bond.
    Such utter bs biased reporting

  2. I support the minor league soccer stadium, though not a soccer fan, plus don’t support the Taxpayer paying for the stadium, What exactly does the owner of the team pay for? I mean the governor gave him millions in last years budget when she ran NM into the Red faster than any other Governor in our history. So what does the owner pay for? New Mexican’s just keep getting the shaft.

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