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Blog Entry
of the Month: One
thing that always seems to get the attention of the U.S.
Congress are the numbers. And when I say numbers, I don't
necessarily mean a head-count. If you know anything about
the ways of the World, you would know I'm talking about
the numbers of money. You know, Texas Tea, cold cash, the
Benjamin's. That being the case, it sounds like good news,
if any, that Price Waterhouse Coopers has published a
report on the lost tax revenues the U.S. government could
be reaping. According to the accredited accounting firm,
approximately $8.7 to $42.8 billion could be earned in tax
revenue over the course of the first ten years of
regulating online gambling in the U.S. And while it's no
surprise the conservative Bush office would not budge in
overturning the online gambling prohibition, let us remind
ourselves that a new election is around the corner. More
and more members of Congress are pledging their support
for Barney Frank's Internet Gambling and Regulation
Enforcement Act, while Congressman Jim McDermott's
companion bill, the Internet Gambling Regulation and Tax
Enforcement Act, now has some impressive figures to draw
more light on this hot topic. Millions of U.S. citizens
continue to gamble online, not withstanding the fact that
they are unprotected by their own government. It's not
hard to do the math. Remember the numbers? Well, then,
Congress should be good at that.
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