Posted by rnanceohio on 08/28/2011 - 20:47
Eleven states earned more revenue from lotteries than from corporate income taxes in 2009. This is really a sad commentary on America.
How do you feel about the growth of the casino industry as an economic initiative? With stagnant or declining tax revenues, states have turned to gambling-related taxes to fill in some of the revenue gaps. I'm not a fan of this approach. However, I do recognize that states with bleeding budgets have few alternatives.
Tell AccountingWEB readers what you think about this subject. As always, you may do so anonymously. Roll the dice!
Eleven states earned more revenue from lotteries than from corporate income taxes in 2009. This is really a sad commentary on America. How do you feel about the growth of the casino industry as an economic initiative? With stagnant or declining tax revenues, states have turned to gambling-related taxes to fill in some of the revenue gaps. I'm not a fan of this approach. However, I do recognize that states with bleeding budgets have few alternatives.
Tell AccountingWEB readers what you think about this subject. As always, you may do so anonymously. Roll the dice!
Reader comments
There's nothing wrong with having more gambling, especially if it helps the tax coffers. Everyone has the right to choose.
Posted by Susan Petro from Little Rock, Arkansas on Aug 29, 2011 - 9:03 am
Unfortunately, many states just don't have a choice.
Posted by Mason Braun from Pittsburgh on Aug 29, 2011 - 7:20 am
Interesting article. I think that, just as you said, states have to be creative with taxes. It does make me curious about the figures...
Posted by Oneboyke from Amsterdam on Aug 28, 2011 - 9:08 pm
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