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Gambling has a zero-sum economic effect in its market and, like legalizing cocaine, the socio-economic costs of legalizing gambling overwhelm the benefits

John Warren Kindt

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John Warren Kindt
Effects
Cocaine
Economic
Gambling
Like
Costs
Zero
Effect
Market
Legalizing
Benefits
Socio
Cost
Overwhelm

More quotes by John Warren Kindt

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Gambling is a catalyst for economic downturn
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The gambling interests like to point to the construction jobs, but those jobs go away
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Studies in Australia have verified this drain on the economy by video gambling machines
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27 percent to 55 percent of casino revenues come from problem or pathological gamblers
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An Osage tribal study found that between $41 million to $50 million left a 50-mile radius around their own casino
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Legalized gambling is the leading cause of bankruptcy
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It's lose, lose for the taxpayer
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Besides creating more compulsive gamblers, money spent on lotteries isn't spent on other goods such as clothing or computers, which would trickle through to retailers, manufacturers and other parts of the economy
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Gambling interests hire lots of economists to do impact studies, but what you need is cost-benefit analysis, and you'll never see the industry finance those
John Warren Kindt
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$60,000 spent in a consumer economy multiplies by respending into $180,000
John Warren Kindt
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The socio-economic impact of gambling addiction is comparable to drug and alcohol addiction
John Warren Kindt
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Bankruptcies increase 18 percent to 42 percent above the national average
John Warren Kindt
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Movies and Disney World don't create addicts
John Warren Kindt
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People will spend a tremendous amount of money in casinos, money they normally would spend on refrigerators or a new car. Local businesses will suffer because they'll lose consumer dollars to casinos.
John Warren Kindt
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If you want your 401k to come back, recriminalize gambling
John Warren Kindt
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If gambling were banned, those social costs would drop, tax revenues from consumer goods would increase, and money would be pumped into the productive economic sector
John Warren Kindt
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My bottom line is this is no time to be gambling with our economy
John Warren Kindt
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The common mistake that business people make is they're going to get drive-by business...Only gas stations are helped
John Warren Kindt
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State-sponsored gambling produces no product, no new wealth, and so it makes no genuine contribution to economic development
John Warren Kindt
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It is not economic development it's about taking money out of the consumer economy and shipping it off to Las Vegas
John Warren Kindt