This is why funding state government with gambling revenue is a bad idea

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One more reason why video lottery was a stupid idea to begin with;

For the first five months, the Sioux Falls area saw about a 15 percent decrease. But in June, when the new casino opened, the percentage dropped 22 percent to 26 percent.

Well, duh. It’s volatile just like sales taxes. When the economy is down, people spend less money (and rob more). I have often suggested that the state moves to an income tax structure and dumps video lottery and regressive sales taxes (on essentials). But we know who is in charge, don’t we, and that ain’t never gonna happen.

I like Cory’s twist on the concept.

Posted in: Taxes, Video lottery

3 Thoughts on “This is why funding state government with gambling revenue is a bad idea”

  1. scott on September 10, 2011 at 11:51 am said:

    How much money does Phyllis spend gambling per week? Not much if any I’d bet.

  2. l3wis on September 10, 2011 at 10:08 pm said:

    She gambles with idiocy everytime she opens her pie-hole.

  3. Pathloss on September 12, 2011 at 6:07 pm said:

    Sorry, I can’t agree with a state income tax. No income tax (personal or corporate) is what attracts poeple and business. Texas is a good example. This is a rural state that needs a draw. Maybe a higher sales tax or higher fees but no income tax.

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