By Refusing to Legitimatize Online Poker, Congress Threw Billions in Potential Revenue Under the Bus

by Lou on December 18, 2010

When Barack Obama signed the spending bill a few days ago—albeit without the attachment that would have licensed and taxed online poker in the United States—it marked the first time in my memory that Congress kicked that much money under the bus.

In the moment that outgoing Senate Majority Leader pulled the plug on his efforts to legitimatize online poker in this country, he turned his back on all the revenue that would have accrued from licensing fees and taxes—money that offshore online poker operators were eager to pay in order to have access to a regulated market here in the US.

Despite all the talk about eliminating earmarks from federal legislation, Congress still cranked quite a few into that bill, but neglected to include the one earmark that would have brought money into US coffers rather that put another dent into our already banged-up economy.

In other words, Congress threw billions of dollars in potential revenue under the bus, as if to say, “We don’t need it; we don’t want it; and we’re quite happy, thank you, to continue to spend money we don’t have on programs the majority of citizens don’t want.”

The Congressional rush to spend our money to buy votes for themselves is hubris of the highest order.  No wonder their opinion rating is at an all-time low and slipping.

I’m appalled at their behavior.  If you’re a poker player, you should be too.

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