× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
New Topic  
avaggp avaggp
wrote...
Posts: 648
Rep: 0 0
6 years ago
Nevada's Foreign Gaming Law dictated that:
 
  a. Casino license holders in Nevada could not be foreign-born
  b. Casino license holders could not conduct operations beyond Nevada's control in any other state or country
 
  c. Applicants for a casino license could not gamble outside the country
  d. Applicants for a casino license must go through a study of what works in foreign casinos before applying in Nevada
  e. None of the above



According to the text, the philosophy of New Federalism, that says that that the federal government had lots of money and was not restrained by requirements to balance the budget was ushered in by President
 
  a. Jimmy Carter
  b. Ronald Reagan
  c. Richard Nixon
  d. Lyndon Johnson
  e. Gerald Ford



Which of the following is not an example of a veto that could kill the issue of legalized gambling to a community:
 
  a. Opposition from local business elites
  b. Crime emerging as the dominant issue instead of the economy
  c. The bad character of campaign proponents
  d. A history of bad experiences with gambling in the venue deciding the issue
  e. All of the above



A political model of the forces against gambling where leaders and voters balance the pros and cons of an issue and then lean in the direction that seems to carry the greatest weight is called:
 
  a. A veto model
 
  b. An issues model
 
  c. A gravity model
  d. A logical model
  e. None of the above



A political model of the forces against gambling where leaders and voters have to successfully jump many hurdles of a series of arguments and concerns against gambling is called:
 
  a. A veto model
  b. An issues model
  c. A gravity model
  d. A logical model
  e. None of the above



According to the text, which of the following factors is not one recognized to make gambling accessible and acceptable.
 
  a. Government regulated gambling
  b. Economic trends
  c. Societal changes
  d. Focus on Las Vegas-style glamour
  e. None of the above  they are all identified as factors



Which of the following events is not identified in the text as contributing to a relaxation of social strictures in the 1950's and 1960's:
 
  a. The Sexual Revolution
  b. The Vietnam War protest movement
  c. The Civil Rights movement
  d. The Watergate Scandal
  e. The questioning of parental authority



How many states have some form of legalized lotteries?
 
  a. Over 5
  b. Over 10
  c. Over 20
  d. Over 30
  e. Over 40



How many states have some form of legalized casino gambling today?
 
  a. 5
  b. 10
  c. 20
  d. 30
  e. 40



Detail the specific examples of the economic benefits of additional taxes in Illinois.
 
  What will be an ideal response?
Read 48 times
2 Replies

Related Topics

Replies
wrote...
6 years ago
b

- - - - - - - - - - - -

c

- - - - - - - - - - - -

e

- - - - - - - - - - - -

c

- - - - - - - - - - - -

a

- - - - - - - - - - - -

d

- - - - - - - - - - - -

d

- - - - - - - - - - - -

e

- - - - - - - - - - - -

d

- - - - - - - - - - - -

The initial tax rate in Illinois was effectively 35. Clearly, it is much higher than Nevada's rate. However, the state limited the number and location of casinos. There is a single casino at each site. It is not a wide open market like Nevada. Because of the near monopoly nature of the Illinois market, casinos could expect much higher revenue per unit. Therefore, they could afford a higher tax rate and were willing to enter the market.

However, the state became aggressive when it needed tax revenues to balance the state budget. The tax rate was raised four times in five years. At the peak, the tax structure for casinos had a top rate of 75 on revenues over 250 million. Casinos began to create strategies to prevent their revenues from exceeding 250 million.

With the additional labor and other variable expenses, the additional revenue generated a net loss to the casino. The casino companies also diverted investment dollars to other markets with better returns and a more reasonable and stable tax environment.

Illinois' mistake was not only raising the tax rate to extraordinary levels, but raising it so rapidly. The lack of instability, regardless of the tax rate, would have spooked investors. The state soon realized their mistake when they saw the measures the casinos took. The casinos took a public stance explaining their position. They would not abandon their investments, but they informed the public that there were better venues for their investment dollars. The state revised the tax rates and structure to encourage the industry, not penalize it for succeeding. Today the effective rate is 50. That is still very high, but one with which the casino industry can live.
avaggp Author
wrote...
6 years ago
White Heavy Checkmark Correct!
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  999 People Browsing
Related Images
  
 247
  
 861
  
 136
Your Opinion
What's your favorite math subject?
Votes: 293