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Lotteries boost state revenues in the short run but don't feed the economy in the long run

John Warren Kindt

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John Warren Kindt
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Short
Economy
Lotteries
State
Revenues
Running
Boost
States
Lottery
Long
Revenue
Gambling

More quotes by 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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Gambling is being subsidized by the taxpayers
John Warren Kindt
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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
John Warren Kindt
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Legalized gambling is the leading cause of bankruptcy
John Warren Kindt
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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
John Warren Kindt
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For every slot machine you add, you lose one job per year from the consumer economy
John Warren Kindt
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When governments legalize and encourage gambling, they are creating addictions among their citizens
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 real loss by gambling is $180,000 to the consumer economy for each slot machine
John Warren Kindt
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Movies and Disney World don't create addicts
John Warren Kindt
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And as far as jobs go, for every one job that the casino creates, one is lost in the 35-mile feeder market
John Warren Kindt
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You bring in gambling into a major population base, and the more people you have going into a casino, the more people you have hooked on gambling
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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A study in Illinois in the mid-1990s found that 65 percent of businesses were hurt by the proximity of gambling
John Warren Kindt
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Your social costs, your costs to the taxpayers, are $3 for every $1 of benefits, it's not good economic development
John Warren Kindt
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Studies in Australia have verified this drain on the economy by video gambling machines
John Warren Kindt
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Another threat to stability is the rise of Internet gambling
John Warren Kindt
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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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If you want your 401k to come back, recriminalize gambling
John Warren Kindt
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What we really need is a federal intervention plan, which calls for a moratorium on gambling in the U.S.
John Warren Kindt