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From Pine View Farm by Frank Bell is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License.
Based on a work at www.pineviewfarm.net.
From Pine View Farm

The Golden Fleecing 0

States are caught up in their own addiction to dealing–dealing the cards, that is.

As the American Psychiatric Association’s manual, DSM-5, for the first time recognizes a non-substance-based addiction — gambling — states have become completely dependent on the money generated by gamblers. So much so, that when gambling revenues decline, states desperately seek out new ways to hook people.

New Jersey is such a state. As its gambling casino revenues falter — and new casinos fail — the state has (in the words of the New York Times) doubled down on its gambling concessions.

Much more at the link.

I’ve never been a fan of state lotteries and the like. They are essentially con games–conning taxpapers out of money without an honest tax increase. And, while casinos may look cool in a James Bond movie, a slots parlor is a damned depressing place.

States bet on gambling as a way to raise free money.

Now they are trapped in their own three card monte.

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February 28, 2013 | Posted by: Frank | Posted in: Political Economy |

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