Stop Predatory Gambling

You pay whether you play or not

by spgadmin

Legislation that would allow the imposition of a new gross receipts tax in New Mexico’s Lincoln County has been signed into law. Revenues from the potential tax would finance a casino tax credit for the Ruidoso Downs Race Track and Casino. In addition, a special election costing the county $25,000 must now be held to approve the casino tax credit.

The casino tax credit through the new gross receipts tax was the regular legislative session’s second effort at reducing the gambling tax for the racino owned by RD Hubbard. A first attempt that would have had state coffers provide a tax break failed. 

The act allows the credit to be sought by racetracks in New Mexico that have a net win (wagering minus winnings) of less than $15 million. Currently only the Ruidoso Downs racino would fit that that requirement.

Officials with the Ruidoso Downs Race Track & Casino have threatened to move to the Las Cruces area without “tax parity” with nearby tribal casinos.

Why would government at any level subsidize a business based on pushing citizens into even deeper debt, especially since much of the money being lost comes largely from Social Security, unemployment and other government support? Taxpayers are already paying for these government programs that make up a large source of profits for the gambling operators and now they are being asked to subsidize the same business by paying more in taxes.

You pay whether you play or not. And you are paying a lot.