How does legal gambling HELP taxes.?

Fritz Sisomphou: Let's say your town needs more money coming and and tax increase won't set well with the voters. So instead of a tax increase, the town allow gambling and taxes the sales or profits of the casino. Now that town gets the money it needs without raising taxes. The people who gamble pay this tax and they voluntarily choose to pay by gambling.

Travis Colomb: I feel you will have received to watch out approximately this. Legalized Gambling is barred for a motive that may be past devout. Gambling dependancy is a danger, and so is crime regarding playing. I'm curious about legalizing playing, nevertheless it will have to be performed cautiously and slowly. Online playing. There are A LOT of scammers in the market. Legalizing necessitates law. Because it might be close unattainable to control this on a state degree, as a result of the character of the Internet, it is most important that or not it's regulated at the federal degree to ensure it is reason! able and that purchasers are included. Legalized playing on a state degree might be great and would furnish tax earnings. The main issue is wherein the cash is going and the way it'll be spent, due to the fact politicians would come to a decision to simply pocket it or use it for puppy initiatives. Some states which are quite involved approximately legalizing playing will also impose a playing prohibit for the protection and health in their citizens....Show more

Dexter Dicostanzo: When people go to casinos and gamble, anything they win is taxed at a special rate for prizes. Usually, about half of the winnings go to the government. Because the government gets so much money from the casino, in theory, it won't have to raise taxes on people's normal income (their wages, salaries, etc.)The downside, supposedly, is that casinos attract crime, which requires more tax dollars to combat....Show more

Patricia Dornbos: pretty much what everyone else said. While people ! can win big in gambling, there is a HUGE tax on those kind of ! winnings. Also, people loose big in casinos as well. So I suppose it could be argued that gambling can help ease tax or at least help to keep it consistant.