While it could well be argued that online gambling in the shape of the Stock Exchanges and the bankers have plunged the USA and Western Europe into the deep deficits we’re suffering from – and the lack of pensions and the like – two bright Democrat politicians think that America should gamble, gamble, and gamble again.
There’s a “ban” on internet gambling in the United States – unless you dabble in stocks and shares rather than the nags of course – but Jim McDermott – cheery looking chap and Barney Frank, two chancers, sorry politicians, from the Democratic Party believe that if internet gambling was legalised it could raise $42 billion for the government over the next 10 years.
According to the egregious Wall Street Journal, McDermott told the House Ways and Means Committee today that the government is sending a multibillion dollar industry underground and off shore. That’s creating tax crooks who daren’t tell the IRS they’ve made money on online poker or 12 card brag.
The politicians think they could tax the earnings at eight percent as well as spur the local cybercasino or two. Or 12,000.
States don’t have to decriminalise gambling under McDermott’s proposals.
If there’s a sufficient deficit, we suspect that the usual moral stance against addictions like gambling, alcohol, prostitution or marijuana aren’t necessarily an objection as long as the money comes rolling in. Moral+Money=0, because Moral=0.