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Legalized Gambling Activities as Subsidized by Taxpayers

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Title: Legalized Gambling Activities as Subsidized by Taxpayers
Author(s): Kindt, John Warren
Subject(s): Gambling United States Economics Taxes
Abstract: An Analysis of the Arguments Used by Gambling Proponents to Convince Public Officials ... Despite claims that the local economy would suffer a $ 25.9 million loss each year the track was closed, village records show that from 1985 to 1989, property tax rates declined, sales tax revenue increased, unemployment declined, and total property assessments increased. ... In another scenario, the investors in the riverboat casino in Alton, Illinois ... It is interesting to note that the attempt in Iowa to regulate gambling by enforcing betting limits on riverboats (regulation that was not advantageous to the legalized gambling organizations) was met with not only the removal of two boats, but also a comment from one riverboat owner who remarked that he hoped "the departure of the two riverboats sends a message to the Iowa Legislature that lawmakers must remove Iowa's betting limits." ... When states and localities notice that tax revenues are decreasing, it is because the gambling organization is diverting consumer dollars (and potential tax dollars) away from the traditional non-gambling economy, and because the legalized gambling organization could be paying relatively few taxes (or no taxes at all) due to partial or total 5-year tax waivers
Issue Date: 1995-01
Publisher: Arkansas Law Review and Bar Association Journal, Inc.
Citation Info: John W. Kindt, Legalized Gambling Activities As Subsidized By Taxpayers, 48(4) ARK. L. REV. 889-931 (1995)
Genre: Article
Type: Text
Language: English
URI: http://hdl.handle.net/2142/16294
Publication Status: published or submitted for publication
Peer Reviewed: is peer reviewed
Rights Information: Copyright (c) 1995 Arkansas Law Review and Bar Association Journal, Inc.
Date Available in IDEALS: 2010-05-21
 

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