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View Diary: Open thread for night owls: Excerpts from the latest Harper's Index (44 comments)

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  •  Socialism and capitalism? (2+ / 0-)
    Recommended by:
    JeffW, Eric Nelson

    Goodell much have been chuckling to himself when he said this.

    http://www.nbcnews.com/...

    At NFL headquarters on Park Avenue in Manhattan, the daily business may span game scheduling, referee hiring or media-rights bargaining – an operation financially fueled by all 32 pro teams which collectively pay more than $250 million in annual “membership dues.”

    All of that revenue received by the league office — more than a half billion dollars since 2010 — is untouchable to the Internal Revenue Service.

    Score? No, says the NFL’s tax attorney, Jeremy Spector. He says the league office, according to U.S. tax code, is a nonprofit trade association, promoting football and serving as an agent and organizer for the 32 clubs. And it’s been that way since the 1940s.

    Yup, that's right; the league office doesn't pay taxes.

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