Tuesday, August 31, 2010

Legalized Gambling and Taxes

Los Angeles, CA—We have outlawed gambling in all but two states. Native Americans demanded and won the right to allow gambling on their reservations. Under the same legal theory Native Americans could begin offering the services of prostitutes and perhaps that's only a matter of time.

Many Indian tribes have gone from really poor to quite prosperous. Taxpayers have not been responsible for the cradle to grave support of our Indians in these communities for more than two decades.

Why do we still insist on enforcing laws against this vice? Gamblers always find ways around these prohibitions. Still there are those that wring their hands about compulsive gamblers that feed a lifetime of lost wagers. Yes it’s a problem but there is a proper way to make legalized gambling co-exist with society.

A simple way to keep gamblers from being over-extended is to pass a single federal law making gambling debts unrecoverable in every court across the land. Allowing the Bankrupt to get the full discharge of any debts they can attribute to gambling will discourage credit card companies from cooperating with gambling businesses.

Gambling can be a healthy and fun for those that can remember that the monuments of Las Vegas and Atlantic City were not built by winners.

Taxing winnings and profits is a reliable revenue generator for government. Perhaps it’s time to rethink gambling prohibitions.


Anonymous said...

I dont see the big deal with gambling and other "vices".I cant see why prostitution is illegal.We need to create jobs right??

Ed Skinner said...

Citizens Singapore must pay a $100 fee to enter a casino in Singapore but foreigners enter for nothing. The intention of the Singapore-nanny state is to protect its citizens from the evils of gambling.

But what it does is encourage travel, and it benefits travel-related industries such as airplanes, hotels and restaurants.

If you want to give the US economy a kick-start, legalize gambling but charge the locals an entry fee. Give gamblers an incentive to go to out of state casinos.

Crimefile said...

Ed anyone can establish residence in one state and live in another. Cops chase people with out of state plate and driver’s licenses every day. The scams only fail with the offenders give the wrong answers to police. A tax on local gabblers would be unenforceable if they simply desired to evade it.

We have enough taxes in our world anyway.