Congress To Legalize Online Gambling?

Thu, 18 Aug 2011 11:43
Americans appear closer than ever to being able to gamble online - as a bill aimed at legalizing Internet casino gaming could find its way before Congress by the end of the year. Only months after the federal government shut down access to online poker sites come reports that Congress could soon consider a bill that would legalize online gambling. The New York Observer is the latest newspaper to release an op-ed article favoring the legalization of online gambling. The article says, "Taxing winnings just might help solve some of the state's revenue problems. Let the games begin!" The article appreciates that the local and state governments have desisted from broad-based tax increases to make up deficits, but laments that they have been "less wise and less creative when it comes to producing new revenue streams". The article avers that irrespective of the legal position Americans will continue gambling online. It concludes that trying to ban online gambling is a lost cause and it is time that governments at all levels accept it and profit from the reality. Do you think legalized online gambling is a good way to bring in tax revenue? Or is it sliding too far down a slippery slope?

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