Our state is in a frenzy to raise more money, without raising taxes. This is sorta like “Perpetual Motion.” Sounds great and everyone wins.
Dour-faced economists explain in great detail that gambling does not bring money into local treasuries. It removes money from local economy. Alas, the desire for easy money, sound much better than working for a living. This is called “The Casino Caper.” The dictionary backs me up with the key definition: "A Caper is a hair-brained escapade."
Casinos are a wonderful place for entertainment. Everyone is friendly, good food, plenty to drink and easy gambling. It is a very enjoyable, expensive way to spend your money. Just don't expect that your taxes are going down or that your community can now operate without increased taxation.
How come? What happens to all that fresh money?
#1 – In a state controlled operation, most of the money (less operating costs) does go back to the players. Strict oversight is very important.
#2 – The state receives a generous cut, which is called a franchise fee. It is really a legal bribe. "Pay us the money and we guarantee no competition."
#3 – The profits go to some wealthy out-of-state corporation that is happy to have a steady income. The corporation may or may not be completely legal and certainly has no desire to spend the money on community projects. Our home town becomes just a bit poorer.
Burt Bowlus
El Dorado
