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!