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Old 11-07-2007, 04:47 AM
 
Location: Louisville KY Metro area
4,824 posts, read 12,800,940 times
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Yesterday (Nov 6), the people of Kentucky, in my opinion, set Kentucky back to the olden days of tax & spend. I am disappointed, not so much that Ernie Fletcher wasn't re-elected, but that Steve Beshear won by a landslide. In any mandate, perceived or not, the government that follows nearly always flounders. Yesterday was not a vote on which gentleman to elect, but history also said, Kentucky voted for casino's. A casino in Kentucky means that millions of dollars will leave the state, while a few winners will receive a few to be taxed by the governments, and the remainer will mostly go to a centralized treasury creating a more powerful political mess.

I realize many will disagree with me, but I hope that those who do will truly research their subject first. Please note this blog. It will be interesting to see what the next four years will bring.

Last edited by tomocox; 11-07-2007 at 05:00 AM..
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Old 11-07-2007, 09:50 AM
 
Location: Pendleton County, KY
241 posts, read 1,202,160 times
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Quote:
Originally Posted by tomocox View Post
A casino in Kentucky means that millions of dollars will leave the state, while a few winners will receive a few to be taxed by the governments, and the remainer will mostly go to a centralized treasury creating a more powerful political mess.
I'm curious how you arrive at this conclusion. Presently, millions of Kentucky dollars are flowing out of the state to riverboat and other casinos in Illinois and Indiana. Predictions I've read say legalized gambling in the state could bring in as much as $500 million per year. Beshear has stated that his plan would channel much of that revenue into the education system. Sounds reasonable to me.
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Old 11-07-2007, 05:05 PM
 
1,727 posts, read 1,448,439 times
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I'm not yet registered to vote here (sorry ), and I don't think I would have voted for Fletcher, but I also wouldn't have really supported the casino issue. Talkin' out of both sides of my mouth here.
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Old 11-07-2007, 06:25 PM
 
Location: Louisville KY Metro area
4,824 posts, read 12,800,940 times
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The few millions that do go out of Kentucky to the border states will be no more than the many millions that will go when casino's are placed "convenient" to all Kentuckians. Now break down the numbers. I don't know the true splits, but let's say 50% of all money collected by a casino goes back to the betters. 30% goes to paying expenses, 10 to the casino owner and 10% to the state. The top 50 was already coming back to the state. 1/2 of the expenses came back to Kentuckians working "on the river", but the casino ten left, and the 10 that goes to Frankfort, will never get back to some of the counties from where the cash had come from. Then add the number of additional police, counseling, infrastructure, etc. Plus, if you know anything about business which you very well may, there comes a saturation point. How many more casino's can be added before there are so many than some start failing? Indiana's newest in West Baden/French Lick is stuggling to survive. So, the question is where is the line you will still drive to in Kentucky vs your nearest operating casino such as Evansville, New Albany, Belltera, or Vevey, Huntington, etc.

It's a business risk that I don't want to invest in at this time. Plus, when does the price of gasoline truly become a stay at home factor?

I don't think I have given you all the down sides, but possibly, for the first time you have truly seen some of the unspoken issues.
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Old 11-07-2007, 06:31 PM
 
Location: Louisville KY Metro area
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Now, as far as whether to vote for Fletcher, once again, as I have written here many times before, hype isn't always what the media says it is. During the Fletcher administration, our highways were improved all across the Commonwealth. Bucks for Brains brought outstanding medical researchers to the state, our overall education results improved, Ford stayed, UPS grew, a 60 story building will dwarf the current 37 story tallest building in Louisville.

One small minded man who is currently under investigation by the state ethics commission for pursuing Gov. Fletcher for his personal ambition won yesterday although he had been run out of Frankfort by his own party in the spring primary.

Facts are, Gov Fletcher ran a very very poor campaign and lost big time.
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Old 11-08-2007, 12:14 AM
 
8 posts, read 29,840 times
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lets see if the revenue from casinos are channelled into the education system. I hope it is. Texas was led to believe that the lottery would be "only" for education. So it was voted in, Well, guess what? its not. our school tax continues to increase.
Louisiana has casinos, and I have yet to see a remarkable improvement in education for Louisiana. That was not voted in, Gov. Edwards managed to get the casinos despite the the public opinion.
Hold the Gov accountable if the money is not going to education. Texas is a lost cause.
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Old 11-08-2007, 01:01 AM
 
149 posts, read 702,528 times
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No doubt Earnie Fletcher has done alot attracting industry unfortunately lost his constituency beyond what his administration termed "the golden triangle" nestled in bed with Louisville and Lexington non-compete agreements among businessmen. I think he lost the election out west in particular. Look to Owensboro for massive casino development to occur. Meanwhile Churchill Downs built alcoves next to the main betting lobby specially for slot machines more than 3 yrs ago. Am opposed to legalized casino gambling myself, knowing every casino town from Reno to Atlantic City creates its own ghetto as seen by me driving truck over the road. Meanwhile whatever ass covers the governors chair, it's likely not to effect what occurs in South Central regions and thats fine with me. Possibly if we kick Fletcher hard enough he'll end up filling the next available US Senate seat and never be heard from again. Honestly caint think of any wrong he's done as governor.
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Old 11-08-2007, 08:40 AM
 
Location: Pendleton County, KY
241 posts, read 1,202,160 times
Reputation: 168
Quote:
Originally Posted by tomocox View Post
The few millions that do go out of Kentucky to the border states will be no more than the many millions that will go when casino's are placed "convenient" to all Kentuckians. Now break down the numbers. I don't know the true splits, but let's say 50% of all money collected by a casino goes back to the betters. 30% goes to paying expenses, 10 to the casino owner and 10% to the state. The top 50 was already coming back to the state. 1/2 of the expenses came back to Kentuckians working "on the river", but the casino ten left, and the 10 that goes to Frankfort, will never get back to some of the counties from where the cash had come from. Then add the number of additional police, counseling, infrastructure, etc. Plus, if you know anything about business which you very well may, there comes a saturation point. How many more casino's can be added before there are so many than some start failing? Indiana's newest in West Baden/French Lick is stuggling to survive. So, the question is where is the line you will still drive to in Kentucky vs your nearest operating casino such as Evansville, New Albany, Belltera, or Vevey, Huntington, etc.

It's a business risk that I don't want to invest in at this time. Plus, when does the price of gasoline truly become a stay at home factor?

I don't think I have given you all the down sides, but possibly, for the first time you have truly seen some of the unspoken issues.
I understand your point, but really, how is this different than the profit any business takes out of this state? Whether Kentuckians pay millions to Wal Mart that end up in Bentonville, AR or choose to entertain themselves by spending millions on gambling that end up in casino owners' pockets, it's simply business. In both cases, the state gets a cut of the company's earnings, people get jobs, and consumers get the products or services they want.

Also, I don't anticipate the kind of oversaturation in Casinos that you envision. As I understand it, the plan is to start off by opening Casinos at horse tracks initially, of which there are relatively few (and they're also scattered broadly around the state).

Now if your objections are based on moral grounds, that's a different discussion. Personally, I don't gamble, but only because I can think of better ways to waste my money, not because I have moral issues with it.

Incidentally, I stayed at the French Lick Resort and Casino back in May (my employer held its annual sales meeting there), and it seemed to be hopping.
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Old 11-08-2007, 02:20 PM
 
Location: Louisville KY Metro area
4,824 posts, read 12,800,940 times
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No, actually, the moral grounds are my weakest link when it comes to fighting casinos. The big difference between Wal-mart, Kroger, Toyota, etc that take big bucks, is the amount of money they keep in the state on a percentage basis. Gambling like any other sin tax, just takes an overwhelming amount of money to the capitol for it's good exchange.

Yes, saturation is a point. There are 5 tracks in KY, Turfway, Keeneland, Red Mile, Ellis, & of course, Churchill Downs. Only the two Lexington tracts are over an hours ride to a currently operating casino, and you know Lexington won't get two tracks. If the Indiana model is followed, if a casino goes into Fayette County, then Fayette will get a split and send the rest to the state. That means that poor counties such as Owen (only Franklin or Scott sit in the way) will not gain but will actually loose.

I tell you, people of Kentucky have been led down a path towards fool's gold. Better put your stocks with Trump, Harrods, or one of the Mafia Godfathers soon.
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Old 11-11-2007, 04:47 PM
 
28 posts, read 185,660 times
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Ernie lost the election - due to his actions! or shall I say the lack of actions - he assumed he was infallible!
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