Regardless of your political leanings, this year's election saw a lot of wins and losses. But here's a big win for Californians: Voters rejected raising hotel taxes to pay for a new stadium for the NFL's San Diego Chargers.
Ballot Measure C received only 43 percent support from San Diego County voters. (It needed at least 66.7 percent to pass.) The Chargers' loyal fan base is justifiably worried about the team's future in San Diego, but from a pure policy standpoint, they dodged a financial bullet.
Why? In order to attract professional sports teams, or prevent them from moving elsewhere, cities often sweeten the pot through tax breaks, subsidies or both. Taxpayers foot the bill for these special favors.
Advocates argue that building taxpayer-funded stadiums is a boon for the local economy, but we need to look at the bigger picture. Impartial economists who have done the math generally agree that subsidizing stadiums brings more costs into a community than revenue.