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Online Gambling Ban Gets Reconsidered by Congress
In the midst of our cash-strapped economy, the federal government is now looking into legalizing online gambling. The New York Times reports that the House Financial Services Committee approved a bill that would allow "online poker and other nonsports betting, overturning a 2006 federal ban," which was mostly ineffective in the first place. The Times notes that the bill would have the Treasury Department regulate online gambling businesses, while a second measure would have the IRS tax the operations. Supporters claim those taxes could pull in $42 billion over ten years.But the bills aren't near passing, and have a legion of detractors, ranging from casinos and American Indian tribes to Republican congressmen who say that there is a bitter irony in blasting Wall Street's unfettered expenditures while promoting at-home gambling. Representative Barney Frank, leader of the Financial Service Committee and supporter of the bill, has said, "Some adults will spend their money foolishly, but it is not the purpose of the federal government to prevent them legally from doing it."
Despite the 1961 Federal Wire Act, which prohibits interstate and foreign gambling "on any sporting event or contest," and the 2006 measure barring financial institutions from doing electronic business with gambling operators, one cannot escape the fact that online gambling is thriving. Online gamblers have found ways to circumvent the law, and the Times notes that the quasi-underground industry may be raking in $6 billion per year.
The bill incorporates measures that would ban the marketing of gambling to children, discourage compulsive betters, and allow states and American Indian tribes to opt out entirely. [From: New York Times]
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Comments
33
Subscribe to commentssh0nuffJul 29th 2010 3:17PM
Wow, thats an old iBook... :S
Big ups for ancient stock photography
SimzeeJul 30th 2010 3:27PM
Gambling must the the new savior to end ones sadness. Why GIVE your money to a casino? (or online betting.) Instead of gambling....why not GIVE your money away to any stranger you don't know. That's what you do while gambling.....just throwing away money.
eddieJul 30th 2010 7:33AM
barney frank sees another way to prey on human weakness for his own gain. In New jersey where I live we have a state income tax, sales tax, gas tax, road tax. lotteries that go off everyday some twice a day, racetracks, casinos and a bunch of other taxes that arent called taxes, but a rose by any other name. Our state is broke and hopefully Gov. Christie will stick with his plan and get us out from under. Point being politicans are like spoiled rich kids you cannot give them enough money. They need to be taught how to use the money properly. The way to teach them is to vote em out this November and every November until they realize we are serious.
jamarCGEJul 30th 2010 9:30AM
Gov. Christie is hurting NJ. I live there as well and have witnessed first-hand what he's doing to people. People are losing jobs left and right because of him. I know teachers that resigned at the end of this pass school year because he was playing around with people's pension.
"Our state is broke and hopefully Gov. Christie will stick with his plan and get us out from under."
That's right Eddie, our state is broke, but Gov. Christie is not gonna help. He's only hurting the average Joe and looking out for the wealthy. He could care less about the average middle class family.
leandercannonJul 30th 2010 12:25PM
eddie a no vote is just a vote for the other guy, what the difference???
markJul 30th 2010 5:37PM
eddie they said that the law stopping online gambling isnt working so why keep fighting it? if they allow it, then its taxable income for the winners. its adults with their own money. they should be able to do what they want with it.
Bothepro24Jul 30th 2010 8:38AM
Isn't it ironic that our government doesn't think it is okay for us to gamble, but it's okay for them to gamble for us. We have seen how they have done, we certainly can do no worse, especially with our own money. All these incumbents must go now, Democrats and Republican alike. Imagine a Congress and Senate filled with Independent's, all with common sense and no ties to anyone but the people who elected them.
dzwillincJul 30th 2010 12:53PM
100% agree, we need to stop being bled to death by special interest politics, we need to vote out both parties and vote in some common sense.
GregJul 30th 2010 8:50AM
The govt. gambles our future everyday, why can't I? Legalize it, tax it, and do the same for drugs. Freedom is allowing me to make a choice with what I can do with myself, as long as I do not harm others.
markJul 30th 2010 5:33PM
i totally agree. we dont need the govt to baby sit us.
JeremyJul 30th 2010 8:58AM
Vice laws and "think of the children!!!" legislation need to go the way of the dodo, this is not Brave New World, nor is it the 18th century; we're adults, let us do as we wish as long as it doesn't harm anyone else, and Washington, please stay the hell out of my business.
bevJul 30th 2010 9:01AM
More and more the government is telling us what is good for us and what we can and can not do. This is not what this country was founded on. People came here in the first place because they were tired of taxation without representation and now we have taxation and the government, who is suppose to be working for us, telling us how to live our lives more and more each day. Its time we sent these idiots packing and get some people in office that understand about this country and what its people need. Have you ever seen a poor government official, yet these rich people are the same that think they know best for people who are struggling in todays society. How could they possible know. Maybe they would if they would at least start listening to us.
E. MartinezJul 30th 2010 3:49PM
Bev, I agree with you and it all sounds really good but.... let's say we do vote in ppl who say they're for "us" yet once they get into office, they change their tune?? How are we to know for certain that they'll remain "for the ppl" and only for the ppl???
IMHO, every politician is a puppet and A LIAR. They say what they need to in order to get into office but once they're in, they can switch at any time. If they switch, there's really nothing we can do other than wait x amount of yrs to vote them out!! See, that's the thing. We can't trust anyone. At least I don't and I know I'm not alone in feeling this way. So what's the answer to this??
Peace
dcfreitasJul 30th 2010 12:25PM
Why not Internet Gambling and taxing it?
......well just look at the billions spent on lotteries, has that solved any problems?.......NO! Oh well maybe we should legalize Internet Porn and put a viewing Tax on it also!?
stevedavid3Jul 30th 2010 11:10AM
It gets clearer and clearer, The present administrarion does'nt give a damn about the American people, It's just all about money, power and controll. What a bunch of corrupt scum. a curse on them all.
OINKJOHNSON2Jul 30th 2010 11:51AM
I say legalize Internet gambling. But I fear that the Democrats see this as just another avenue to levy a TAX. But, if they do not regulate the Internet in its entirety, they will not succeed, because there are hundreds, even thousands of sites all around the world, which will thrive and prosper outside the grasp of tax-hungry politicians. Players will flock to those sites which levy no government tax, but simply charge a nominal "rake", as is common in casinos. I have read of a proposal by Rep. McDermott of Washington State which would impose a 10% tax on all monies transferred either into a gambling site (which would hit all players) or perhaps out of a gambling site (which would hit only the winners). I am not sure which, but either one would be devastating--it is difficult enough to beat the other players and the rake charged by the site. But an additional 10% would make it virtually impossible for a player to win. Perhaps a maximum charge of 1% on players and a reasonable income tax (the normal corporae rate) on U.S.-based Internet gambling sites would be palatible.
Brudele12Jul 30th 2010 11:49AM
Well, its clear that some of you don't want online gambling and some don't want it taxed whats new. Oh I know lets tax the upper 2% that make over 250,000 a year more taxes and give the less fortunate a break or should I say give them back some of there money that you rich people took from us in the first place. Yeah go OBAMA I think he is doing a great job. More than any president since President Clinton. I think the people wanted change and now they are getting it. I will stand up for Obama anytime over what we had before, 8 years of high taxes on the Bush watch for the lower income. Shame on all of you..........Now it is our turn to take it back. Stick it to them President Obama until they screammmmmm.
carolJul 30th 2010 12:42PM
Repubs think we should have smaller government unless it has to do with personal behavior, then they have no trouble going inot our homes, our internet, even our bedrooms and, for women, our bodies.
BobAug 2nd 2010 3:13PM
Carol, you said
"they have no trouble going inot our homes, our internet, even our bedrooms and, for women, our bodies."
That is really a dumb blurb.
I check almost every day and as yet, I have not found any government investigators in my bedroom.
The chicken little segment sees Big Brother at every turn. I have nothing to hide and do not spend any time checking in a paranoid manner to find some esoteric villian trying to take over my personal life.
Focus on the disaster in D.C. for the real culprits who are taking our money, freedom and violating a basic principal known as "the consent of the governed."
Sad to see you folks who see sinister stuff at every turn. It would be better for your mental health to simply try your best to be the best you can be. Yes, we need to oust the scum but they are not all scum, just the ones grabbing headlines. Peace Y'all, Bob
ButtonJul 30th 2010 12:46PM
ON-LINE GAMBLING IS ALREADY TAXED ON YOUR INCOME TAX. I THINK IT IS SUCH A WASTE AND IT USUALLY RUINS CHILDREN'S LIVES AS THEY GO WITHOUT FOOD, SHELTER AND CLOTHING. KEEP GAMBLING OFF-LINE MORE AND MORE SO KIDS GET A FAIR CHANCE. YOU ALL DON'T KNOW HOW ADDICTING IT IS.
MOM AND GRANDMA WHO KNOWS!!!!