Initial Prejudice Against the Gambling Economy
Gambling is no doubt creating the maximum
revenue in the country. Even so, once the
against online gambling employment curbs, itís
criticized for the negative impacts on the people and society. That is
because only the rich can afford to shell out the dough to gamble. If they
loose it does not hurt them but if they win, it strengthens their financial
condition. The poor remain completely out of the scenario. And the people
who gamble on a regular basis get an addiction, which is responsible for the
growth of crimes like stealing, looting, cheating etc. And the addiction
leaves no room for other activities, resulting in spending money recklessly
in the greed of earning more.
Gambling and positive economic development
But no government can deny the benefits to
the economic status of a country due to gambling revenue. And this is why
instead of closing gambling outlets the government legalized it. This
created a middle path for both the gamblers as well as the non-gamblers. At
the first instance legalizing was obviously discredited because they had the
following out comings once they commenced:
in the taxes.
apart from gambling getting distorted.
back on the scenes.
welfare costs to the society and government.
Gambling and tax revenue
Even as earlier it was given tax subsidy,
later they levied taxes on gambling activities at a flat 50% rate. To avoid
gambling to go out of hand, it has been restricted from contributing in
anyway to political campaigns. And this has been rightly done so since the
newly developed gambling agencies have become so widespread that they are in
a position to dictate the social, economic and even the entire tax policy.
But legalizing them gives a tab on it, which can be tapped on if they start
going off track.
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