Regulated Internet Gambling Would Generate Billions in New Revenue

[JeffreyS]

Congressmen Jim McDermott has released analysis that shows regulating Internet gambling would generate between $8.7 billion to $42.8 billion in federal revenues over its first ten years. That is a lot of money the government could recoup that is currently going offshore, since millions of Americans continue to gamble online in an unregulated, unprotected environment.

Here is a link to an AP story on the subject and a letter sent by McDermott to all Members of Congress:
McDermott sponsors Internet gambling tax legislation


If you are interested in learning more about this issue and to encourage Congress to allow us to make decisions about whether to gamble online, we encourage you to visit Safe and Secure Internet Gambling Initiative.

Jeffrey Sandman
Safe and Secure Internet Gambling Initiative
Safe and Secure Internet Gambling Initiative

[DosEquis]

Thats too logical.

In omaha, ne we literally have 4 casinos less than 15 minutes drive across the border in Iowa. 70% of their customers are Nebraska natives and we go support their tax base. The dipshit republicans voted against Omaha having them, and less than 1 week later one of the casinos annouced an 85 million dollar renovation.

[Spideynw]

Originally Posted by JeffreyS

Congressmen Jim McDermott has released analysis that shows regulating Internet gambling would generate between $8.7 billion to $42.8 billion in federal revenues over its first ten years. That is a lot of money the government could recoup that is currently going offshore, since millions of Americans continue to gamble online in an unregulated, unprotected environment.

Here is a link to an AP story on the subject and a letter sent by McDermott to all Members of Congress:
McDermott sponsors Internet gambling tax legislation


If you are interested in learning more about this issue and to encourage Congress to allow us to make decisions about whether to gamble online, we encourage you to visit Safe and Secure Internet Gambling Initiative.

Jeffrey Sandman
Safe and Secure Internet Gambling Initiative
Safe and Secure Internet Gambling Initiative

Or government could simply cut spending and legalize internet gambling.

[thomez]

why not make internet gambling legal in every form?

[JaJae]

Originally Posted by thomez

why not make internet gambling legal in every form?

I agree. If pornography is legal, I don't see a problem with internet gambling. Have child restrictions as they do on other sites and tax the crap out of it. We have casinos in NJ. It's a major source of revenue for our state. I see no reason why there needs to be a federal ban on internet gambling. The only thing I can really think of is the casinos in America banded together and somehow managed to get internet gambling banned through "morality" blinders.

States that have casinos often rely heavily on that income. If the casinos started complaining about internet gambling (as I'm sure they did) I doubt they'd have trouble getting their states to support it. Then a bunch of do-gooder Republicans following suit got the crap passed.

[hsmith]

Originally Posted by JaJae

I agree. If pornography is legal, I don't see a problem with internet gambling. Have child restrictions as they do on other sites and tax the crap out of it. We have casinos in NJ. It's a major source of revenue for our state. I see no reason why there needs to be a federal ban on internet gambling. The only thing I can really think of is the casinos in America banded together and somehow managed to get internet gambling banned through "morality" blinders.

Internet gambling is illegal now because the people running the sites didn't pay off congress. The real casinos paid off congress to ban internet gambling.

No morality at all came into play, just cash.

[thomez]

Originally Posted by JaJae

I agree. If pornography is legal, I don't see a problem with internet gambling. Have child restrictions as they do on other sites and tax the crap out of it.

why tax the crap out of it? why does everything need the crap taxed out of it?

[JaJae]

Originally Posted by thomez

why tax the crap out of it? why does everything need the crap taxed out of it?

Why not? Casino profits should be taxed like any other business is taxed. They don't collect sales tax on their games. I think in NJ casinos are taxed at a rate of 8% of profits. I see no reason why internet gambling shouldn't be taxed similarly.

[thomez]

So you decide that all US Casinos with internet gambling need to pay 8% tax... and they all establish offshore gambling sites free from the taxes. What exactly was accomplished? Or are we going to try to ban people from accessing offshore gambling sites, if that is even possible?

[JaJae]

Originally Posted by thomez

So you decide that all US Casinos with internet gambling need to pay 8% tax... and they all establish offshore gambling sites free from the taxes. What exactly was accomplished? Or are we going to try to ban people from accessing offshore gambling sites, if that is even possible?

All businesses in this nation should be taxed. End of story. We shouldn't make exclusions for certain types of businesses. We could argue about Walmart sweat shops going off shore to reduce taxes/costs and everything else. That doesn't mean we shouldn't tax businesses. It wouldn't be fair to tax certain businesses and not others simply because they threaten to go elsewhere. If they're not going to do business in the US and give back to our economy why should we care if they go off-shore? I'm not willing to give them special treatment.

My business has to pay out 7% sales tax, state fees & licenses, our profits are also taxed, etc... Why the hell should gambling businesses be any different? Simply because they're willing to go offshore? Then fine, go offshore.

[kinggovernor]

gambling isthe most corrupt quasi-legal industry in the United States.

[RMNIXON]

Originally Posted by JeffreyS

....millions of Americans continue to gamble online in an unregulated, unprotected environment.