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Aren’t There
Better Uses of Slot Machine Money?
There is a
prevailing idea that slot machine money
is extra money that a state brings in.
Instead of looking at it as simply more
money to spend, states should be looking
at it as money they don’t really have.
This is money that you cannot count on
to be a specific amount – be it large or
small. If you get extra money then it is
a windfall, but if you don’t get your
projected amounts you are in the
proverbial hole and now short that
money.
Instead of cutting budgets in areas that
truly need cutting – like governor and
legislator salaries – they always look
to cut educational funding instead. Then
if they are able to bring in slot
machines – low and behold they have
their funding. But slot machine money is
a gamble – hence the name of the game.
But lawmakers view it as more of a
guaranteed payment that they are going
to get and then are disappointed when it
doesn’t work out the way they want.
In Minnesota they want their slot
machine money to go towards a new
stadium. This is one of the smartest
ideas yet. They feel like they really
need a new stadium so by bringing in
slot machines they will have the money
to do it without raising taxes for the
new structure. This way, if not enough
money comes in, they are not left
wondering how to buy books for the next
year.
A lack of slot machine revenue would
simply mean that the stadium was not
getting built – not exactly a life
changing experience. But having to cut
teachers and school supplies is. Slot
machine money is a gamble – and it is a
gamble as to how much you will get. By
counting on a certain amount they are
bound to be disappointed in the end.
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