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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
Economy
Lotteries
State
Revenues
Running
Boost
States
Lottery
Long
Revenue
Gambling
Feed
Short

More quotes by John Warren Kindt

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Movies and Disney World don't create addicts
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When governments legalize and encourage gambling, they are creating addictions among their citizens
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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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It's lose, lose for the taxpayer
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My bottom line is this is no time to be gambling with our economy
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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
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Actually, they should just roll it all back get rid of gambling...It destabilizes the U.S. economy
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27 percent to 55 percent of casino revenues come from problem or pathological gamblers
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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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I would hate to see the state of Wisconsin make another mistake and locate another casino in a high-density population area
John Warren Kindt
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Studies in Australia have verified this drain on the economy by video gambling machines
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Another threat to stability is the rise of Internet gambling
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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.
John Warren Kindt
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Gambling is a catalyst for economic downturn
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The socio-economic impact of gambling addiction is comparable to drug and alcohol addiction
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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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The social costs, and the increased tax costs due to addicted gamblers, stay behind
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
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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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