lazyboy97o
Well-Known Member
Yeah, that would be the big part that’s misinformed. If you had bothered to do a bit of reading you’d know Disney pays more taxes, not less.
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News Reedy Creek Improvement District and the Central Florida Tourism Oversight District
- Thread starter castlecake2.0
- Start date
UNCgolf
Well-Known Member
The problem is almost everything you said is factually incorrect.
Disney already pays their fair share (if not more than their fair share) and this move is more likely to reduce their tax bill than increase it.
UNCgolf
Well-Known Member
Yes, it is. But you're obviously free to believe whatever you want, even if it's wildly and demonstrably incorrect.
But hey, if this means Republicans are going to shift their entire platform and start pushing to raise the corporate tax rate and close tax loopholes for corporations, I'm all for it!
lazyboy97o
Well-Known Member
Why don’t you actually tell us which taxes they do not pay?
GoofGoof
Premium Member
What taxes do they not pay? I’m interested to hear what you think. I know you haven’t read the thread, but would it surprise you to know that Disney pays the same real estate taxes to Orange and Osceola counties as any other taxpayer including competitors like Universal and Sea World? Would it surprise you to know that the taxes Disney pays to RCID are in addition to those taxes so dissolving the district doesn’t change the amount of taxes paid to the counties? I hear what you are saying and you are repeating what the Governor has stated publicly that Disney doesn‘t pay their fair share and he has a plan. If you are actually interested I could summarize what’s already been discussed.
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peter11435
Well-Known Member
Disney paid their taxes. In fact they are the largest taxpayer in the county.
Sir_Cliff
Well-Known Member
Here is another sign that plenty of people will believe what they believe based on their political affiliation regardless of the facts of the matter. That's why I am a little less optimistic than many on this thread that there will be a reasonable solution to all this. I would like to be pleasantly surprised, though.
ImperfectPixie
Well-Known Member
Agreed on all points.
donsullivan
Premium Member
I don't know where people get this impression that Disney doesn't pay taxes as a result of Reedy Creek. They still pay full and normal property taxes to Orange and Osceola Counties just like all of the rest of us who own property in the county. They still pay state and local sales tax, just like everyone else. They still pay resort taxes just like every other resort and hotel in the region. They still pay all the same payroll taxes as everyone else in the state. They don't get traditional services like roads, sewer, water, fire, emergency response, etc from either of those counties and they pay those counties for police support on their property.
Then in addition to all of that, they pay an additional ~$160 million dollars every year to support Reedy Creek providing all those services instead of the adjacent counties.
People need to let go of this 'talking point' that Disney isn't paying taxes as a result of Reedy Creek. One of the reasons RCID was created is so the adjacent counties did not get burdened with all of the costs from their development within the district.
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GoofGoof
Premium Member
I agree to an extent, but that poster is just parroting what the Governor is saying. It’s not like the poster is making stuff up. It‘s been covered on every news outlet that the Governor is saying he has a plan, taxpayers won’t foot the bill and Disney will pay their fair share as punishment for getting involved in politics. So without looking into it if you trust the Governor it seems like Disney is in the wrong and he is making them pay. The problem is digging several inches below the surface it’s easy to see that what the Governor is saying makes no sense and is just political spin.
So why am I more optimistic there will be a reasonable solution? As I stated earlier, the Gov has already taken a victory lap and seen his donations increase so he’s gotten what he wants out of this. There are extremely problematic logistical issues around how to actually dissolve RCID to punish Disney without causing severe collateral damage to a bunch of other people. We’ve already seen polling where close to 2/3 of people oppose the government punishing corporations for speaking out politically. It’s great to juice up the base but not overall very popular and when you cause tax increases to regular taxpayers, cause damage to RCID bondholders which include pension funds and other retirement accounts and create uncertainty around the jobs of 400+ full time employees of RCID and several thousand contract workers that makes it even less appetizing. So it’s in everyone’s best interest if the legislature quietly negotiates a settlement behind closed doors where Disney gets mostly what it wants and the Governor can still spin it as a win.
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I assume this is just performance trolling of everyone here.
Reading just 1% of the posts in this thread would show the inaccuracies in the statements.
Got a full page of replies too. So, not the best trolling. A really good one would get 5 pages easy, and almost faster than they could be read. I rate it 2.5 out of 5.
DisneyDebRob
Well-Known Member
You are in a very generous mood for giving it a 2.5. Having a good night i see.
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GoofGoof
Premium Member
I gave him the benefit of the doubt. I usually do. I am usually wrong too, but doesn’t stop me
Disstevefan1
Well-Known Member
249 pages in a month.
I know, I know, nothing we say here will make any difference. The powerful will win. The little guy will lose..
But in any event, let’s keep it going!!!!!
I know, I know, nothing we say here will make any difference. The powerful will win. The little guy will lose..
But in any event, let’s keep it going!!!!!
mikejs78
Premium Member
What does that have to do with Reedy Creek?
flynnibus
Premium Member
When you setup a taxing district that is almost exclusively Disney... who do you think is paying those taxes?
And remember this is IN ADDITION to the county taxes...
This 'fair share of tax' pitch around RCID is complete and utter ignorance of what is actually in place. If you wanna keep playing 'na na na I can't hear you' and repeat your demonstratedly false claims. You are free to keep painting yourself that way... it's a free country.
mikejs78
Premium Member
We're talking about Florida, not federal. But it's not like there they are not paying something that other corps are.
But besides that, that number was based on 2020 income (their tax return in 2021) when Disney posted a loss because of the pandemic (corporate taxes are based on profit, not revenue). In the calendar year 2021, Disney payed $497M in federal income taxes.
GoofGoof
Premium Member
We are talking about real estate taxes. As far as I know from various reporting TWDC is paying the same real estate tax rates as every other taxpayer to the 2 counties impacted, plus taxes to RCID.
Nubs70
Well-Known Member
Because Reedy Creek bonds pay out at 4.0% - 5.0% annualized.
WDW would need to pay out higher than 4.0 - 5.0% if they floated the bonds instead of Reedy Creek.
Sirwalterraleigh
Premium Member
I agree reading 248 pages is tedious…
But you might have perused 1 or 2…cause you missed the ENTIRE fundamentals of what actually is going on.
Disney was never skipping taxes…they were operating a local government where bond investors made money off their massive infrastructure costs while they financed it while Orange/Osceola county didn’t pay.
The horror of it all
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