forgotston.com

In a column from the Associated Press about LA’s legalized gambling market is stated:

As Louisiana’s next governor grapples with the just-passed record spending legislation, the evolving casino market could blow open a budget hole that will not be easy to deal with. (emphasis mine)

That is an exercise in hyperbole to give the public the impression that there will be a financial collapse in LA without legalized gambling. The problem is the facts do not support such rhetoric.

Since the inception of legalized gambling in LA, the revenues to the state have remained relatively static while the state budget has more than tripled. The current state gambling revenues are somewhat more than was received by the state from the first full year of the Lottery. As more gambling was legalized, lottery revenues declined in direct relation.

Reality

If all forms of legalized gambling in LA ended tomorrow, the loss to the state would be roughly $755 Million. That’s 2.3% of the “just-passed record spending legislation.” A downturn in gambling as addressed in the column would have a negligible impact on he state budget.

Right after Hurricanes Katrina, Rita and U.S. Army Corps of Engineers devastated our state, the governor and leges quickly cut a billion dollars out of a budget that was much smaller than the current one and nobody even noticed. Anything less than a billion dollars in today’s budget is small potatoes.

Lost jobs revenues?

One could argue about the job losses from a downturn in gambling, but in today’s job market anyone who wants to work can find a job in LA that pays as much or more than most jobs offered by Organized Gambling.

Much, if not most, of tax revenues lost would be made up by sales and other state and local taxes.

Any downturn in the legalized gambling market is only going to hurt the bottom-line of the gambling operators who, for the most part, are publicly traded companies head-quartered outside of LA.

A bigger threat

The biggest threat to state gambling revenues are Indian casinos which pay no taxes to the state and take business from those casinos which do.

It’s about tax breaks

Organized Gambling is just setting us up a for a tax break. They may get one. They get everything else they want in LA. However, it won’t be because state government is going to suffer a financial collapse if they don’t.

C.B.

Uncategorized CB 8:00 am

Governor Blanco just returned from England touting LA as a place for business investment.

While she was back in Baton Rouge before leaving for a National Governors’ Conference she worked overtime to hurt existing businesses in LA. She vetoed HB 505 which would have reduced the State Sales Tax on utilities paid by businesses.

Blanco signed other tax breaks including the one for Broadway South.

The message Blanco sent was LA helps businesses who aren’t in LA, but screws businesses that are already here and trying to survive.

Nuff said!

C.B.

Uncategorized CB 1:52 pm

If you have ever wondered why I refer to them as the “Heh, Heh, Heh, Ethics Board,”the story in today’s Daily Monopoly should give you a clue. See story here.

The Heh, Heh, Heh Ethics Board, has long shown by its actions that LA is not a government of laws, but ne of men. Once again, the Board has taken a Machiavellian approach to the administration of the Heh, eh, Heh, Ethics Law. Apparently, there is a dearth of people in LA who can read and understand the Ethics Law.

There is no way to write laws the letter of which smart folks can’t find a way to circumvent the enforcement thereof. The solution is finding people to enforce not only the letter of the law, but THE SPIRIT of the law.

The folks around the country aren’t laughing with us, they are laughing at us.

If anyone wants to see who is responsible for making a mockery of the law below is a list of the board members and their contact information.

C.B.

Baptiste, Herbert V, Sr. 305 Jackson Street Natchitoches, LA 71457(318) 352-2597

Davis, Clayton Arthur P. O. Box 3010 Lake Charles, LA 70602(337)439-0707

Ferriot, Joanne C., Ph.D c/o Ethics Brd 2415 Quail Dr,3rd Fl Baton Rouge, LA 70808(225)763-8777

Greene, John W (Judge) Poist Office Box 997 Covington, LA 70434 (985) 892-6876

Hamilton, Gwendolyn P402 North 4th Street Baton Rouge, LA 70802(225) 267-6300

Johnson, Michael T2757 Highway 28 East Pineville, LA 71360(318) 484-3911

Lowrey, Cedric W., M.D. 4506 Wellington Blvd. Alexandria, LA 71303(318)443-0358

Maselli, Joseph #3 Poydras St., Condo 14B New Orleans, LA 70130(504) 891-1904

Perret, Henry C, Jr. Post Office Drawer 3408 Lafayette, LA 70502 (337) 262-9000

Peterson, Ernest D., Sr. 2519 North Waverly Drive Bossier City, LA 71111(318)742-1792

Spikes, Dolores R1315 Balsam Avenue Baton Rouge, LA 70807(225) 775-8710

Uncategorized CB 9:27 am