TAX CASINO PROFITS.
Casino profits and taxes should be the object of reform in the USA
American-based casino profiteers, corporations, shareholders and owners -
whether they own casinos in the United States or own or invest in
casinos outside the United States - should pay taxes at a fair rate
and a progressive rate. Progressive taxes on casino profits
would work like this: On the first $1 million of profit per year, the
casino (or profiteer, corporation, shareholder or owner)
pays a 20% Federal mercantile tax,
in addition to all other taxes paid.
On the first $1 to 10 million of profit per
year, the casino (etc.) pays a 40% tax on
all profit in that bracket.
On the first $10 to 100 million profit per
year, the casino (or profiteer, corporation,
shareholder or owner) pays a 90% tax on
all profits.
.
What this would do is force casinos to set
better odds - in other words, to adjust their
gaming practices so that the odds are not
so heavily weighted in favor of the house;
and this would force casinos to invest more
in the communities in which they are located.
.
It would also reduce the pace at which casinos
personally ruin people who are vulnerable or
somewhat susceptible to gambling - and might
even bring about special projects within casinos
to help people get back on their feet financially
after having been ruined by gambling; or on the way
to the poorhouse so that they can avoid reaching the
point of ruin in the first place.
Since casinos have cameras everywhere that are constantly
monitored by security personnel, it wouldn't be difficult
for them to identify the people who are personally
and financially ruined by their games.
.
Casinos should be a tax source, not an opportunity
for carpetbagging and wildcat profiteering at the expense
of the State and the republic.
.
Casinos should be required to donate a certain portion
of the profits they keep. Certain types of
charities and small businesses should be
beneficiaries of these mandated donations.
.
It should also be illegal for anyone connected
with a casino to donate to any political candidate
or to accept a bribe. Congress should pass such
legislation to put into effect all of the above proposals.
.
Scott Davis
PO Box 877
Edgmont, PA 19028-0877
USA
whether they own casinos in the United States or own or invest in
casinos outside the United States - should pay taxes at a fair rate
and a progressive rate. Progressive taxes on casino profits
would work like this: On the first $1 million of profit per year, the
casino (or profiteer, corporation, shareholder or owner)
pays a 20% Federal mercantile tax,
in addition to all other taxes paid.
On the first $1 to 10 million of profit per
year, the casino (etc.) pays a 40% tax on
all profit in that bracket.
On the first $10 to 100 million profit per
year, the casino (or profiteer, corporation,
shareholder or owner) pays a 90% tax on
all profits.
.
What this would do is force casinos to set
better odds - in other words, to adjust their
gaming practices so that the odds are not
so heavily weighted in favor of the house;
and this would force casinos to invest more
in the communities in which they are located.
.
It would also reduce the pace at which casinos
personally ruin people who are vulnerable or
somewhat susceptible to gambling - and might
even bring about special projects within casinos
to help people get back on their feet financially
after having been ruined by gambling; or on the way
to the poorhouse so that they can avoid reaching the
point of ruin in the first place.
Since casinos have cameras everywhere that are constantly
monitored by security personnel, it wouldn't be difficult
for them to identify the people who are personally
and financially ruined by their games.
.
Casinos should be a tax source, not an opportunity
for carpetbagging and wildcat profiteering at the expense
of the State and the republic.
.
Casinos should be required to donate a certain portion
of the profits they keep. Certain types of
charities and small businesses should be
beneficiaries of these mandated donations.
.
It should also be illegal for anyone connected
with a casino to donate to any political candidate
or to accept a bribe. Congress should pass such
legislation to put into effect all of the above proposals.
.
Scott Davis
PO Box 877
Edgmont, PA 19028-0877
USA
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