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News? Check. Politics? Check. Music? Check. Random thoughts about life? Check. Readership? Ummm.... let me get back to you on that. Updated when I feel like I have something to say, and remember to post it.

Monday, January 03, 2005

Gambling on a new stadium

It looks like there will be a new stadium, home to the Colts, conventions, Final Four basketball, and probably even a tractor pull or two. The model looks quite attractive, a welcome addition to the Indianapolis skyline.

The Colts news article doesn't discuss the proposed financing for at least part of the cost: gambling. Some people don't like it. It is proposed that the gambling includes video pulltabs, which look like slot machines but pay out like pulltab lottery tickets (with preset winning tickets).

Personally, I'd prefer real slot machines. Although I don't play slots, I am impressed by the many fun machines in Las Vegas, particularly the all-video fifteen-symbol machines with animated bonus rounds (Reel 'Em In, for example).

And I don't have a fundamental objection to gambling. I gamble, even buying the occasional lottery ticket. (For $5, I can fantasize about winning the lottery. And half the money supports the government.) It's a voluntary tax, which I definitely support. (Voluntary taxes on the rich don't have a high rate of acceptance, as anecdotally discussed here.)

Some people complain about how gambling (and taxes on tobacco and alcohol) disproportionately hit the poor. But let me repeat: It's a voluntary tax. No one has to gamble. Personally, I'm glad to live in a nation where we can exercise poor judgment. The alternative is to have no freedom to control our own lives.

4 Comments:

At 1:14 PM, Blogger gecko said...

I'm with you on this one. I, for one, when moving to Washington state, will be avoiding King County for this very reason; They have an enormous sales tax hike to pay fo a new Seahawks stadium. I do not want to pay out the nose every time I want to buy a box of Captain Crunch for a place that I will never set foot in. Alas, some of the better malls in the area are there. Maybe, I'll stick with the Tacoma mall and avoid Seattle shopping altogether...

 
At 11:40 PM, Blogger Greg said...

Hey, taxes influence my decision, too. Sales tax at restaurants are higher in the county where Indianapolis is. I work just north of the county line. If I want to go out to lunch at McDonald's, I have two choices, roughly equidistant. But to save that four cents in additional sales tax, I'll always go to the one in my county, not the one in the county to the south.

 
At 11:54 PM, Blogger gecko said...

Here - here. Or is it hear - hear?

 
At 9:45 PM, Blogger Greg said...

It is hear, hear.

 

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