BUSINESS

Sin Tax Worst Fears

TAGs: government taxing gambling

scared-to-deathThe situation in South Africa with the government implementing a sin-tax is troubling and unpleasant on so many levels. Read more.

Worse yet, South Africa is not the only place where sin-taxes are being utilized and it won’t be the last. Sin Tax is quickly becoming my worse fear and it’s not just because of the tax itself, it’s because of the helplessness that type of tax makes you feel. You want to drink, boom, here’s an extra tax, you want to smoke, booyah gotcha again, you want to gamble, boom boom, gotcha twice…And that last one, right there, is my biggest fear.

I can already see it happening like a bad nightmare…Already governments are taking control of gambling and online gambling in many provinces and states, and that’s cool. Recently Quebec was authorized to enter the online gambling market, surely other provinces will follow, and with United States teetering on the legalization and regulation of online gambling, it might not be too long before their government also has control and that’s all fine and sweet. But here’s where it gets a little scary for me…

It doesn’t take much to start the nightmare, say a protest, or a coalition group to rise up concerned about the gambling industry, or as in the recent case of Quebec, maybe it’s health officials lobbying to the government against the gambling industry, it could be anything that sparks it but once that fire starts, its an inferno. What am I talking about? I’m talking about a sin tax, worse yet, a gambling sin tax. Imagine, if the government is regulating and controlling the gambling, obviously they would be making a healthy revenue, which of course is one of the main reasons proponents are pushing for regulation. But wait a minute, what if the same government turns around and issues a sin tax on gambling, alcohol and cigs. Welcome to my nightmare.

Essentially, the government would not only be filling its coffers from gambling regulation revenue, but it would be raking in millions of dollars off sin tax and people’s gambling winnings, not only that, casinos which offer liquor, now your paying an extra price for that too. Next thing you know, that Vegas trip doesn’t sound so affordable and even if you do go and lady luck shines on your ass and you come out a winner, your paying tax on that shit anyways. It’s a scary situation, and I’m sorry I even brought it up. Let’s hope it never comes to that, because that’s my worst sin tax fear, maybe now, it’s yours too.

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