(January 5, 2013…RaceTalkRadio.com)
After all these years of seeing my favorite sport of auto racing get bashed in the mainstream media it dawned on me that the perfect theme song for NASCAR would be “Charlie Brown.”
NASCAR should be asking, “Why’s everybody always picking on me?
The only time the news media has anything to say about NASCAR is when there is a horrible crash or someone gets killed or there is something bad to report. This week many in the media, including some of the NASCAR media, were quick to report that NASCAR was getting a special deal as part of the “Fiscal Cliff Avoidance” bill.
Who cares if NASCAR doesn’t own any race tracks?
If you dig a little deeper you can find out that NASCAR’s favorite congresswoman Betty McCollum started this idiotic rumor and the media accepted her word as gospel.
Yes indeed NASCAR fans this is the same lady that made a big deal about military sponsorships. Technically NASCAR does not own a single race track but Ms. McCollum didn’t let that simple fact hold her back. The press was quick to rub in the fact that mean old NASCAR was laughing all the way to the bank.
Last week on RaceTalkRadio.com’s “Track Source Radio Show” Tim Frost of the National Speedway Directory did an excellent job of explaining how this tax break came about and how it impacts race tracks all over the country.
“What was done was extending a depreciation law that has been around since 2004,” said Frost. “Race tracks got the same breaks as amusement parks and other businesses by shortening the length of time they have to write off an investment made. This directly affects the racing industry and incorrectly refers to this as a NASCAR tax break.”
In other words every single race track in the country can write off their investment over seven years on their taxes instead of the next fourteen years. That will not save a race track on their taxes but it will mean more of an impact on the local economy from coast to coast at over 1000 race tracks!
Hey Ms. McCollum…you have six race tracks in your congressional district and those tracks are responsible for helping keep some of your constituents employed!
I am all for tax reform and doing away with the IRS picking the winners and losers. But calling this latest tax deal the “NASCAR Tax” is a joke! What is coming next… a report on how much carbon dioxide NASCAR adds to the environment causing global climate change?
Why’s everybody always picking on NASCAR?