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11-18-2013, 09:34 AM
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#41
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2005
Location: Chicago
Posts: 13,186
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Quote:
Originally Posted by growing_older
So by legalizing and promoting these machines, they inflict over $200 million in losses on taxpayers in order to collect $10 million in taxes. I wonder if the economy would have been better off if they just instituted a $10 million tax and let people keep the other $195 million.
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If you don't live here in Illinois, it must be hard to grasp the level of gov't corruption firmly in place. It's part of the culture. The reason the taxes collected vs the level of losses looks so out of balance is that gambling needs to be highly profitable for the private groups running it so that the payola back to Springfield can flow freely.
Just sayin' ................. Just my opinion..............
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
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11-18-2013, 09:44 AM
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#42
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by youbet
If you don't live here in Illinois, it must be hard to grasp the level of gov't corruption firmly in place. It's part of the culture. The reason the taxes collected vs the level of losses looks so out of balance is that gambling needs to be highly profitable for the private groups running it so that the payola back to Springfield can flow freely.
Just sayin' ................. Just my opinion..............
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Spoken by a man with a well rounded worldly experience.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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11-18-2013, 10:24 AM
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#43
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Full time employment: Posting here.
Join Date: May 2011
Location: Marco island
Posts: 815
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Quote:
Originally Posted by youbet
If you don't live here in Illinois, it must be hard to grasp the level of gov't corruption firmly in place. It's part of the culture. The reason the taxes collected vs the level of losses looks so out of balance is that gambling needs to be highly profitable for the private groups running it so that the payola back to Springfield can flow freely.
Just sayin' ................. Just my opinion..............
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Growing up in Springfield, I know the meaning of the term " private groups." Just in case anyone is considering getting in on the profitable gaming business, it's not an option open to the general public.
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11-18-2013, 10:39 AM
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#44
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
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Although I occasionally buy a lotto ticket for kicks, I don't care for gambling. While on vacation in Paradise Island, Bahamas, I remember thinking how dumb it seemed to be sitting in a dark, smoky casino, with such beautiful beaches and scenery all around. Same for Reno/Tahoe...
__________________
Have Funds, Will Retire
...not doing anything of true substance...
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11-18-2013, 10:46 AM
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#45
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
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Quote:
Originally Posted by HFWR
Although I occasionally buy a lotto ticket for kicks, I don't care for gambling. While on vacation in Paradise Island, Bahamas, I remember thinking how dumb it seemed to be sitting in a dark, smoky casino, with such beautiful beaches and scenery all around. Same for Reno/Tahoe...
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I love Reno/Tahoe too. By day out on slopes, by night hunkered down in the sports book; provided my GF isn't chewing on me to get out!
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11-18-2013, 01:23 PM
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#46
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,931
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My state doesn't have "casino" gambling but on occasions I'll drive over the Bossier City (Shreveport LA) and do a little gambling. Sometimes I'll drive over there with an old friend of mine that lives down the road a few miles and spend the day (actually he's an a X-ER forum poster that some of you may recall - Highroller). He's a much bigger player than I am but I've known him for years and it's a fun way to spend some time with a long time friend.
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11-18-2013, 03:31 PM
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#47
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Thinks s/he gets paid by the post
Join Date: Feb 2011
Posts: 1,797
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Quote:
Originally Posted by Gatordoc50
....Just in case anyone is considering getting in on the profitable gaming business, it's not an option open to the general public......
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Investing in the casino industry is open to the public, inc stocks like Wynn, Las Vegas Sands, and Penn National Gaming.
Casino Stocks: 'Lucky 7' Picks & Pans?
But a quick web search for 'casino bankruptcies' shows not all prosper in this competitive industry. And most states are smart enough to tax GROSS revenues rather than net profits.
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