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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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Lottery
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Economy
Lotteries
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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
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The casinos are walking out of states with at least $1 billion in their pockets to Las Vegas
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The faster the gambling activity, the more highly addictive it is and the more addictive the gambling activity is, the more revenue it will generate for the industry
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No reputable economist anywhere believes it's gambling an economic tool
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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
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Taxpayers would likely be responsible for treating addicts
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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
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We beat the Great Depression without lotteries and legalized gambling
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Gambling addicts usually lose their focus at work and problem military gambling poses a national security threat
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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.
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The socio-economic impact of gambling addiction is comparable to drug and alcohol addiction
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Legalized gambling cost taxpayers $3 for every $1 in state revenue to government
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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
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What we really need is a federal intervention plan, which calls for a moratorium on gambling in the U.S.
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My bottom line is this is no time to be gambling with our economy
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The gambling interests like to point to the construction jobs, but those jobs go away
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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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State-sponsored gambling produces no product, no new wealth, and so it makes no genuine contribution to economic development
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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 is the leading cause of bankruptcy
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