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$60,000 spent in a consumer economy multiplies by respending into $180,000

John Warren Kindt

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John Warren Kindt
Spent
Economy
Multiplies
Consumer
Gambling
Consumers

More quotes by John Warren Kindt

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Gambling is being subsidized by the taxpayers
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
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While gambling addiction can be a social justice reason for some to ban gambling, the economic evidence suggests that the social and economic costs of gambling are $3 to the taxpayers for every $1 in benefits
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The socio-economic impact of gambling addiction is comparable to drug and alcohol addiction
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A study in Illinois in the mid-1990s found that 65 percent of businesses were hurt by the proximity of gambling
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Legalized gambling cost taxpayers $3 for every $1 in state revenue to government
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My bottom line is this is no time to be gambling with our economy
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Taxpayers would likely be responsible for treating addicts
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Therefore 5,000 new video gambling machines costs the economy 5,000 lost jobs each year
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Movies and Disney World don't create addicts
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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
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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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The real loss by gambling is $180,000 to the consumer economy for each slot machine
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Legalized gambling is the leading cause of bankruptcy
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Gambling is a catalyst for economic downturn
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We beat the Great Depression without lotteries and legalized gambling
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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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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
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No reputable economist anywhere believes it's gambling an economic tool
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Another threat to stability is the rise of Internet gambling
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