Here a Tax, There a Tax

Gamblers beware:

• FanDuel announced plans Tuesday to slap a $0.50 transaction fee on every online wager placed in Illinois, an additional juice that the sports betting behemoth says it has to squeeze because state lawmakers are saddling sportsbooks with a new tax on every bet they take.

  Legislators who signed off on the first-of-its-kind per-wager tax to help bridge a $1 billion state budget gap say big gambling corporations like DraftKings can afford another dent in their profit margins.

  But after sweeping sports betting tax hikes last year, leaders of the booming industry claim the one-two taxing punch will lead to worse odds — and drive bettors to the black market.

There's a tipping point, where the cost to RUN a business doesn't work out with the cost of DOING business. It's a balancing act.

There are tiny brains who will insist that even if a business is making a single penny in profit, then they will continue to do business....and they ought to be taxed that extra penny. But the fact is, they'll just move their business over the border to someplace that taxes them less, increases their bottom line for shareholders, and expand into untapped markets with friendlier business climates.

We already do most of our food shopping in the suburbs, we fill up the car in another county (remember - gas tax goes up from forty-seven cents on 01 July!), larger appliance purchases are made out-of-state and we're looking into transferring our friends and family cell service to a cabin in the woods.

If there isn't one already, someone will create a work-around in the electronic betting industry.