Is a gambling a good solution for state revenue?

[nobody's_hero]

Yes, I believe giving money to the state for revenue is gambling.






. . . . —wait. What was the question?

 

[dannno]

Speculation is just another form of masturbation.

Masturbation is not speculation, you always know exactly what's coming.

 

[dannno]

A lot of misconceptions in this thread. If you believe in free markets, then you also should believe value is purely subjective. Gambling certainly has a "real value" to some people.

If you claim gambling doesn't produce anything and therefore it is a waste, then couldn't you extend the same argument to almost every hobby and form of entertainment? Or even art, music, fashion, and movies?

The question wasn't related to value maximization, it is related to fixing local govt. debt problems and bettering the economy per the OP.

To help the economy, we need to decrease govt. spending, not find ways to increase revenue. We also need to increase savings and investment to drive production. I'm weary whether casinos will help people save.

That said, they should still legalize it, make sweeping spending cuts, lower or end income and property taxes and maybe consider placing a small tax on gambling.

 

[Michael P]

For the dollars take in, they create fewer jobs and they probably pay less too.
http://www.hcareers.com/us/resourcecenter/tabid/306/articleid/629/default.aspx

Oh I see... so you just want to centrally plan the economy to maximize jobs. Well I want to gamble so GFY. Also, dealers are not the only jobs in casinos and that number you tossed out didn't include tips (most of their income).

 

[Zippyjuan]

Oh I see... so you just want to centrally plan the economy to maximize jobs. Well I want to gamble so GFY. Also, dealers are not the only jobs in casinos and that number you tossed out didn't include tips (most of their income).

Somebody else made the claim that casinos would provide jobs lost due to revenue being spent there instead of local businseses. I said nothing about centrally planning the economy based on jobs- actually my pont would be to say that looking to casinos to provide revenues and jobs was counter productive. As for tips, from my same link as before:

along with tips that account for roughly 50 to 80 percent of that salary.

If tips are 50% of your salary, you are now up from $14k to $21k a year.

The odds of a casino dealer earning tips are comparable to the odds of a player winning a game. Casino dealers rely on tips for income, and tips come from winning players. Volatile daily and weekly earnings make a career in this field risky. A few lucky dealers earn stratospheric amounts, while others earn just enough to meet the adequate income necessary to meet basic living expenses. Learn how to play the game before setting a bet on a career in the casinos.

 

[Jingles]

From living in PA for the first 18 years of my life and having to deal with Ed Rendell as my governor... No not at all. His solution to budget issues was casinos. Instead he just spent the money on other things rather using it to help lower property taxes and etc... I'm all for people doing as they wish, but just don't trust government with any tax revenue. The only way you are going to solve budget issues is to cut spending. They just spend anything more you give them.