Posted by Jon Fleischman at 11:34 pm on Jun 17, 2014 Comments Off on Legislature Should “Fold” On Flawed Internet Poker Deal
The appetite of liberal or corrupt politicians to suck money out
of the private economy, by virtually any means possible, so that
they can redistribute it to those persons or causes they favor, is
voracious.
This never ending “hunger” to spend, as Nobel-Prize-Winning
economist Arthur Laffer refers to it, OPM — which stands for “other
people’s money” has led to a generation of terrible laws and
regulations being promulgated by governments at every level.
The latest entry into this is a proposal before the California
legislature to grant certain favored interests the privilege to
operate online poker sites on the internet. In return, of
course, these “lucky few” interests pay for their new exclusive
franchise through two routes — the first is that state government
becomes, in essence, their business partner, taking a percentage of
the profits presumably straight into the general fund.
Perhaps more ironic is the pay-for-play side of the equation, where
these “lucky few” maintain and enhance the quality of life of their
politician-patrons with direct campaign contributions, donations to
their… Read More