Tax Cuts
The theory behind the Reagan, Bush, and Trump tax cuts was that “making the rich richer” will result in more investment, more jobs, and greater prosperity for the common folk. Actually, we have the highest inflation in 40 years and double the number of folks relying on food banks.
What are the rich doing with that extra money?
A group of Texas Tech alumni have a unique concept. The NCAA recently allowed college athletes to be paid by local businesses for their NIL (Name, Image, and Likeness) in advertising. From time immemorial, “student-athletes” were limited to tuition, room, and board.
Texas Tech is not exactly Alabama or Ohio State when it comes to football success. Any Texas high school star would much prefer to go to UT in Austin surrounding himself with the music scene and honky-tonks there rather than spending four years in Lubbock surrounded by oil wells and dust storms.
These alumni formed the Matador Club which offers a $25 K NIL stipend, renewable annually, to each of the 85 Texas Tech scholarship football players. In return, the athletes must perform “community service”. These lads get a “full ride” plus $25 K in “walking around money.” Suddenly, Lubbock doesn’t look so bad.
But wait, there’s more. Big time college football teams require some non-scholarship “cannon fodder” for the big boys to beat up on at practice. The Matador Club thought of those poor souls, too. Fifteen non-scholarship players may never see the field on Saturdays but they will be handed a cool $25 K for the parties afterwards.
That’s $25 K times 100 players equals $2.5 million each year. Matador Club members have $2.5 million burning a hole in their collective pocket each year. Some of that $2.5 million comes from the Reagan, Bush, and Trump tax cuts. That tax cut money certainly benefitted one hundred Texas Tech athletes. As for the other 330 million Americans who might see expanded Medicare, Child Tax Credits, or Climate Change action, tax cuts would have to be rescinded and we can’t have that.
Go, Red Raiders!
By Ed Dufton
