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Originally Posted by woj
You are missing one detail, if online gambling completley disapears US customers will save $12 Billion... then they will take that saved money, and spend it on a new ipod, new clothes or some other stuff... now the catch is, all those purchases will be taxed = more money for the goverment...
For example, daddy pisses away $200 playing poker one night (not taxed - $0 for the goverment), and now he can't afford to buy his son the $200 bike he wanted (taxed - $15 for the government)
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Sorry woj.. missed your post and totally agree!
I'm not a gambling fan and think it's a total waste of time and money. The flip side is, it's up to people spending their money how they spend it. The govt has already collected personal taxation on this already. Another side is.. sure, gambling like all "vices" can cause harm with a group of addicts.
The other point is ... where are iPods, bike components and completed products coming from? Dunno where Apple claim the country of manufacture is - but there sure are lots of suppliers of ipod "bits" in mainland China, Taiwan and elsewhere in that region. I've never seen one manufacturer of components in the US yet on a Google search. This may sound good and is better than wasting money on gambling, but suggests an even bigger national deficit in the background than any taxes the government may collect.
Just smell one of the major problems is balance of trade, even more than any issues over gambling. That 12 billion hopefully "saved" is only 3 or 4 days worth of borrowings from the Bank of China. And.. last I heard, the China daily borrowings were around 24% percent of the total - the rest being borrowed from other countries.
Kinda makes ya wonder what is more relevant
