From the Seattle P-I:
The effect on the Mississippi economy could be severe. About 14,000 people
work in the dozen casinos along the Mississippi coastline. Each casino
has a land-based hotel.
The hurricane damage could cost Mississippi some
$400,000 to $500,000 a day in lost gambling taxes. Last year, the
state's casinos generated $2.7 billion in revenue.
My questions:
If casino's aren't fleecing working people out of $500,000 per day, plus the
Casino's cut, won't the people have more of their own money to pay for things
they need?Don't casinos really just bleed money from an economy like
medieval physicians would bleed a sick patient?
Casino's don't produce anything. They don't invest in anything except their own proliferation. Jobs are 'created' by having casino's, but those are necessarily a fraction of the value of the money that is being skimmed off for profit and taxes.
With apologies to those whose living is tied to the gambling industry, is the damage done to gambling in Mississippi truly damage to the economy?
Clue me in if I'm off the mark here.