I Have Often Said the Some Countries
I have often said the some countries, including the U.S., stubborn refusal to legalize online poker is only hurting themselves. In these troubling economic times, legal poker online, and the taxes levied on it, can be a great boon to many nations.
Well, luckily, at least one U.S. Senator agrees with me. An increased focus on the benefits of Internet gambling regulation are expected as the Senate Finance Committee considers a proposal introduced on Saturday to use Internet gambling revenue to offset the costs of health care reform. The amendment offered by Senator Ron Wyden (D-OR) would dedicate Internet poker gambling tax revenue generated through implementation of the currently pending Internet Regulation, Consumer Protection and Enforcement Act (H.R. 2267) to increase low-income subsidies provided through the America’s Healthy Future Act of 2009. A PricewaterhouseCoopers analysis shows that collecting taxes on regulated Internet gambling would allow the U.S. to capture up to $62.7 billion over the next decade. A companion to Chairman Frank’s legislation introduced by Rep. Jim McDermott (D-WA), the Internet Gambling Regulation and Tax Enforcement Act (H.R. 2268), would raise revenue for the U.S. Treasury primarily through ensuring that applicable individual taxes, corporate taxes and license fees on regulated Internet gambling activities are collected.
I wholeheartedly support these measures.
