Legalized Online Gambling Could Pay Off...Maybe

May 5, 2009 - Wrote By Haley

Some speculators on the economy, mainly John Kindt, states that online gambling supporters have no idea what the legalization of online gambling would do to the American Economy. Kindt claims that even though online gambling would provide needed tax dollars, that supporters don't realize the full scope. Even though more revenue would be generated, Kindt believes that in the long run that gambling would eventually devastate the economy. Kindt, supporter of UIGEA, says that we could expect so drastic changes in the way the economy works if it were to be impacted by the affect of online gambling. He also indicates that bankruptcies jump from 18 to 42% in areas where casino gambling is legal.

Representative Barney Frank, Kindt's main rival, is looking to expand the revenue that the government brings in through online gambling. Kindt believes just the opposite is true, through decreasing gambling, we will have more money in the economy. By reducing bankruptcies and crime, Kindt is confident that taxpayers can save multiple dollars, for each tax dollar that they send in.

Frank is still set on trying to get the Unlawful Internet Gambling Enforcement Act overturned, for the second time. Kindt, outraged by Frank's second attempt cited numerous sources who appeared before Congress in the previous decade warning of the dangers that Online Gambling presents to Americans. Kindt is desperate to keep the gambling industry out of people's homes. Despite this conflict with Kindt, Barney Frank will proceed to present his plan before Congress some point next week.