ROBIN HOOD REGULATING GAMING

(previously posted under Keith McCullough: 06/08/08 9:56 AM EST)


Robin Hood Regulating Gaming:

The Illinois Supreme Court ruled that it is legal for the state to collect a surcharge from the profitable casino industry and give that money to the unprofitable horse racing industry.

Ronald Reagan once said "Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."

Horse racing stopped moving a long time ago. How telling is this form of economic populism occurring in Obama's home state?