Another chapter for the unfolding “Rational People/Irrational Government” saga…
Americans are gambling less as they increase savings, reduce debt and approach discretionary spending with caution. This has put a dent in state tax revenues. A dispatch in The New York Times notes that gambling-related tax revenue was down more than 7% in the fiscal year that ended in June in the 12 states with commercial casinos. What to do? Coax the citizens to gamble even more, of course:
In hopes of enticing more gamblers, New Jersey lawmakers have repealed a smoking ban, and in Illinois they are considering allowing free drinks on riverboat casinos… Gambling critics have long maintained that it provides short-term revenue at the expense of long-term social costs, such as increased crime and addiction. But the new data also shows that the revenue collected by states and local governments is decreasing while competition for it is on the rise. Still, state leaders are looking for ways to g et a piece of the earnings. Here in Ohio, Gov. Ted Strickland, a Democrat and a former Methodist minister, reversed his opposition to gaming and, in conjunction with the Legislature, issued a directive allowing video slots at the state’s seven race tracks.
You can’t make this stuff up.
