Ravenwood - 06/17/04 06:00 AM
Cash strapped D.C. decides they want to woo the Montreal Expos, and declares they are ready to finance a new baseball stadium with 100% public money. Area business leaders agreed to help by absorbing a $9 Million tax hike during a meeting last year. This year (surprise!) D.C. tells them their tax hike will be more like $18 to $20 million. That's more than double the original estimate.
If they sign on to support this, my bet is that the figure will double again before the stadium is completed.
Also, keep in mind that companies do not pay taxes; they collect them. All these extra taxes eventually wind up being paid by the customer, the employee, or the shareholder. (Probably all three.)
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