Help save yourself join CLT today!

CLT introduction  and membership  application

What CLT saves you from the auto excise tax alone

Ask your friends to join too

Visit CLT on Facebook

Tuesday, May 19, 2015

CLT and the No Boston Olympics meeting

Chip Faulkner's CLT Commentary

Last night I went to a No Boston Olympics Community Engagement meeting near South Station in Boston.  The meeting was hosted by Chris Dempsey, Co-chair of No Boston Olympics.  I had already met Chris when he was the guest speaker at CLT’s Friday Morning Group meeting in April.  He was glad to see me in attendance, since he knew Citizens for Limited Taxation has officially endorsed his efforts to stop the Olympic Games from coming to Boston.  There were almost a hundred people in the room; the vast majority seemed to be sympathetic to his cause.

No Boston Olympics had done a survey asking people to list their biggest concerns about the Games.

Survey results:

Taxpayer responsibility:  80%

Projected costs:  63%

Displaced homes and businesses:  57%

Without going into details on the presentation by Chris and others, below are some of the major points made during the almost two hour meeting:

  Every Olympics since 1960 has had a cost overrun. The average overrun was 179%.

  The Boston 2024 bid requires that the three most expensive venues: the Olympic Stadium, the Aquatics Center and the Velodrome; all have to be built from scratch.

  The revenue sponsorship is listed at $1.6 billion. This would be the highest sponsorship support ever required in Olympic history.

  Insurance will be unable to adequately protect the taxpayers. Insurers do not insure risks that are virtually certain to materialize – like cost overruns.

  Lake Placid was 3 times the initial budget. New York State bailed it out to stave off bankruptcy.

  London boosters initial bid to the IOC was 4.2 billion; the eventual outcome was 11 billion.

Chip Faulkner


Citizens for Limited Taxation    PO Box 1147    Marblehead, MA 01945    508-915-3665