As most Pennsylvanians probably know, slots are now legal in PA. Of course getting a new governmental "slot" agency started is taking about as long as it will take for the polar cap to melt. The official purpose of slots is to decrease/eliminate real estate taxes. Like most states, PA has what could be construed as a pretty unfair system, where you pay based on 'how big' your house is. Of course that's oversimplifying but you get my point. Your income is totally not relevant. What your house is assessed at is gospel. So if you've worked 30 years to pay off your house and are now going to retire on minimal funds, it doesn't matter that your income as gone down, you still owe ever increasing tax! Very unfair.
I don't follow every aspect of the implementation but do know that soon the licences will be given out and there are approvals in place for different manufacturers of slot etc. Most recently I've read reports that they are hoping for each of us to save a few hundred bucks on our taxes. To me, that's a total waste. You should do it ALL or nothing! While I don't look forward to losing my tax deduction, shifting the burden 100% to gambling would make my wallet feel a lot heavier should this all actually occur some day. But of course you and I know the real estate tax can't go away because even the proponents of gambling have told us that gambling isn't enough.
Though I dont understand it and was hoping someone can explain it to me. PA will have one of, if not THE highest gambling tax (50-55% of revenue, I forget which). So how in the world can you take a 50% tax on a totally new revenue stream and yet NOT be able to get rid of real estate taxes? Can an economist explain that one to me? The only thing I can think of is that the total revenues aren't enough to support that elimination. Assuming I'm correct
, then why even bother? it's just a waste to do this half assed and give us something that is very likely just a tiny band aid which will probably just create more problems than it solves. (like putting stop leak in a radiator, you know you'll have to buy a new one someday and fix it right because all that does is clog it up more!)
For the record: I do like gambling but dont like the lame excuse they gave to approve it in this state. Also to the folks that say 'gambling is the demise of everyone' ....well...we are all responsible for our own actions. No one is forcing seniors on a 500 dollar social security check to go gamble it away every month. Also I don't see PA becoming one big Atlantic City slum because apparently a lot of these casinos wont be in downtown areas, but rather the suburbs and outlying areas. While yes, there's crime in the burbs, it's not as 'easy' access as downtown AC is to all the troublesome folk.
I'm sure other tax elimination plans will be mentioned here eventually but I wanted to start out with the slots and their effects initially.
I don't follow every aspect of the implementation but do know that soon the licences will be given out and there are approvals in place for different manufacturers of slot etc. Most recently I've read reports that they are hoping for each of us to save a few hundred bucks on our taxes. To me, that's a total waste. You should do it ALL or nothing! While I don't look forward to losing my tax deduction, shifting the burden 100% to gambling would make my wallet feel a lot heavier should this all actually occur some day. But of course you and I know the real estate tax can't go away because even the proponents of gambling have told us that gambling isn't enough.
Though I dont understand it and was hoping someone can explain it to me. PA will have one of, if not THE highest gambling tax (50-55% of revenue, I forget which). So how in the world can you take a 50% tax on a totally new revenue stream and yet NOT be able to get rid of real estate taxes? Can an economist explain that one to me? The only thing I can think of is that the total revenues aren't enough to support that elimination. Assuming I'm correct
, then why even bother? it's just a waste to do this half assed and give us something that is very likely just a tiny band aid which will probably just create more problems than it solves. (like putting stop leak in a radiator, you know you'll have to buy a new one someday and fix it right because all that does is clog it up more!)For the record: I do like gambling but dont like the lame excuse they gave to approve it in this state. Also to the folks that say 'gambling is the demise of everyone' ....well...we are all responsible for our own actions. No one is forcing seniors on a 500 dollar social security check to go gamble it away every month. Also I don't see PA becoming one big Atlantic City slum because apparently a lot of these casinos wont be in downtown areas, but rather the suburbs and outlying areas. While yes, there's crime in the burbs, it's not as 'easy' access as downtown AC is to all the troublesome folk.
I'm sure other tax elimination plans will be mentioned here eventually but I wanted to start out with the slots and their effects initially.
