Michael Wolfe

There are some really loud claims being made by the Issue 3 people*, one of the latest is that issue 3 will “generate $500 Million in new tax revenue.” They do that after mocking the “same old” opposition claims of crime and corruption.They themselves in the amendment seem to believe bad things will happen, otherwise why these 2 provisions:

• 2% to a state law enforcement training fund
• 2% to a state problem gambling and addictions fund
• SOURCE

It also shows that they *know* casino gaming will destroy lives and create addicts. Is it credible or legit to claim to help the economy KNOWING you are going to destroy lives in the process? Everyone who votes for this, and is aware of that fact can be said to have a hand in the destruction of someone’s life and family.

Will gambling actually improve Ohio’s economy? The gambling industry does not actually create wealth, it can only transfer it from other areas of the economy. It is one of the least truthful industries, promising the world and delivering an empty wallet. Virtually all of the consumers who enter a casino will lose money, its statistics, or casinos wouldn’t operate.  Beyond the required $50,000,000 bribe paid to the state from each casino that will open, notice that the “500″ million does not represent an economic gain, and is merely a projection. Most of this claimed 500,000,000 will only drain money from other portions of the economy, and destroy lives. Casino gaming is not the way to fix Ohio’s economy, and will only cause harm to Ohio’s people. These same kind of promises were made with the lottery. And what’s that done but transfer more wealth from the people to the state?

Further, in a purely economic sense, there is a thing called the law of diminishing returns. People only have so much money to spend, and only so much they can afford to waste on gambling. Some of this professed gain will come from other Ohio gambling institutions, like the Ohio lottery and the scratch off tickets.

Vote no on issue 3, its passage will (at best) help the casino operators make more deceitful wealth** on the backs of Ohio citizens that can least afford it, which is an increasing number of people as the economy continues to falter.

*(610 WTVN pro-casino advert for Issue 3, 10/28/09)

**profit is good. When goods and services are traded for money, both people benefit. The problem with casinos is that almost everyone who trades their money gets nothing in return. Deceitful adds promise the world and an amazing time, but the hangover is killer. Thus, the “profit” turned by casino owners is not profit in the purest sense. Websters 1828 defines profit as such:

1. In commerce, the advance in the price of goods sold beyond the cost of purchase. Net profit is the gain made by selling goods at an advanced price or a price beyond what they had cost the seller, and beyond all costs and charges. The profit of the farmer and the manufacturer is the gain made by the sale of produce or manufactures, after deducting the value of the labor, materials, rents and all expenses, together with the interest of the capital employed, whether land, machinery, buildings, instruments or money.

Let no man anticipate uncertain profits.