Barney Frank on Internet Gambling

http://www.futureofcapitalism.com/2010/07/barney-frank-on-internet-gambling

From today's front-page New York Times article on Congress moving to legalize Internet-based gambling so that it can capture what it claims will be $42 billion over 10 years in additional tax revenues:

Representative Barney Frank, the Massachusetts Democrat who leads the Financial Services Committee, has been the legislation's champion.

"Some adults will spend their money foolishly, but it is not the purpose of the federal government to prevent them legally from doing it," Mr. Frank said.

By adults spending their money foolishly, he's talking about people spending their own money on gambling, not the politicians spending the money they take from others in taxes. It's apparently not the purpose of the federal government to prevent either one.

by Ira Stoll  |  Jul 29, 2010 at 10:49 am Related Topics:  Politics, Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list