In bits and pieces, full-scale legalized gambling came to West Virginia during a period of about 26 years....
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That's funny. For the past few weeks (years) you've been telling everyone what to do, including passing legislative bills that you know very little about. Now, you're saying studies need to be done. You are a rank amateur in every way, including critical thinking. You just continue to encourage making a mess with no regard to who will clean it up. Why don't you think next time.
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Gambling is a losing proposition for everyone but the casino owner and the government.
Imagine if your citizens spent that $600 million (actually more, since that is the state's share) on goods and services in West Virginia. How many jobs would that create? How much would tax revenue grow?
If you gamble $1,000 and lose, you get nothing. The state gets X and the casino owner gets Y, with a very small fraction going to the low paid casino employees.
But if you spend $1,000 on a product, you employ the guy who makes the product and you help to keep a business open. The business employs people and pays taxes. The business invests excess funds elsewhere or puts them in the bank. The bank loans out the money for businesses, mortgages, etc. This in turn creates more jobs.
$1,000 invested or spent on goods and services creates far more jobs and tax revenue than the black hole known as gambling.
Ragnar: So no one spends the $1000 lost? Casino must just burn it. The spending on goods and services just jumps to next level. More than likely scenario is: Instead spend the $1000 at Walmart on products from communist China, who will use the money to start a war with the USA.
$1,000 lost gambling gets you ZERO return on your investment.
$1,000 spent on a riding mower gets you a......riding mower. You can then cut your own grass and save the money you were paying someone else OR you can start a small landscaping business and earn a few bucks. The mower you bought will need fuel and parts. Think of money spent on a product as a mushroom cloud and money spent on gambling as flushing cash down the toilet.
Ragnar. You missed the point. Say the casino owner buys a $1000 lawn mower? Or otherwise spends the $1000. Isn't the same money still being pumped into the economy? Or if the gambler spends the $$ on over priced fast food or booze? which is worse?
Studies are not necessary.The operators will tell WV what is needed.They do this work 24/7. A % of sales fee is the only way out of the box now. This is an analog to income tax.Does the person making 10K pay the same tax as one making 200K? The casino fee needs to be based on ablilty to pay. WV will have to take what they can get now in the new commercial enviornment.
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