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View Diary: It's not just Mitt Romney's tax returns that are under lock and key (115 comments)

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  •  What constitutes being successful? (26+ / 0-)

    The 1984 Olympics in LA received $78MM in direct federal support to the games. The games generated $225MM in profits.

    The 2002 Romney/Bain Olympics in SLC received $342M in direct federal support to the games (out of a total of $1.3Billion in taxpayer money that included security, infrastructure improvements, etc). The games generated $100M in profits.

    $225M for $78M is 2.88:1
    $100M for $378 is 0.265:1

    So under the Romney/Bain model you get about one tenth the bang for the federal buck, and you need five times as many federal bucks to do the job! I don't think we need Mitt investing for America. It'll only lighten our pockets and make him and his pals even richer than they already are.

    •  You can't compare 2002 and 1984 (4+ / 0-)

      I'm sure the security costs in 2002 were nuts. That was back when folks in North Dakota thought the corn palace was a potential Al Qaeda target.

      Snarka snarka snarka!

      by Hunter Huxley on Mon Jul 23, 2012 at 06:38:33 AM PDT

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      •  The Corn Palace is in South Dakota, not N. Dakota (7+ / 0-)

        Mitchell, SD to be precise. I stayed there back in 1994 driving cross country. The fire alarms went off at 3 in the morning and they couldn't turn them off for 2 hours. I ended up getting a free stay which is about the nicest thing I can say about Mitchell, South Dakota.

      •  Yes I can compare 2002 vand 1984 (3+ / 0-)
        Recommended by:
        Hunter Huxley, howd, engine17

        i gave the total cost of 2002 at $1.3B federal dollars, but I also gave direct costs, which did not include security, in the initial comparison of $78M V $378M and more importantly the rations, which vary by a factor to 10. This is apples 'n apples except for inflation not factoring in. But inflation works both sides of the equation. That's what the ratio shows.

      •  plus the difference between summer and winter (0+ / 0-)

        The summer olympics are huge compared to winter; they bring a lot more people into town, all of those people spending money. I haven't crunched the numbers, but this might be a factor.

        Not sure how much additional funding came in for security. They were actually using military units for some of the security operations, which was pretty strange.

        48forEastAfrica - Donate to Oxfam If you can't feed a hundred people, then just feed one. - Mother Teresa

        by wasatch on Mon Jul 23, 2012 at 10:03:16 AM PDT

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        •  I think the size of the summer games cuts both way (1+ / 0-)
          Recommended by:

          They need a lot more venues constructed, and that means stadiums and buildings where the winter games use mountain slopes with minor improvements. Summer games in Atlanta cost somewhere between $6-700MM --- don't know what they claim to have made. The numbers are not meant to report the economic activity arising from the games, but the actual cost of the games and the profit reported by the Olympic Organizing Committee. That would be primarily tickets, concessions, and media rights.

    •  Obviously, You Failed Republican Math (0+ / 0-)

      You know Republican Math where,

      "Fiscal Conservatives" like Reagan and Bush triple and double the deficit.

      "Low Tax Conservatives" hate Obama for having the  lowest federal tax rate in 30 years

      "Small Government Conservatives" hate Obama for having the smallest increase in federal government spending in 60 years and for cutting 600k public sector jobs.

      With Republican math is it any wonder why they hate the public education system?

      Poor man wants to be rich. Rich man wants to king. And the king ain't satisifed until he rules everything. B.Springsteen

      by howd on Mon Jul 23, 2012 at 12:45:53 PM PDT

      [ Parent ]

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