Posted on 10/03/2006 2:52:04 AM PDT by baystaterebel
US President George W. Bush this week is expected to sign a bill making it harder to place bets on the Internet, a practice which already is illegal in the United States. Bush was expected to act quickly after Congress approved the Unlawful Internet Gambling Enforcement Act making it illegal for financial institutions and credit card companies to process payments to settle Internet bets. It also created stiff penalties for online wagers.
Billions of dollars are wagered online each year and the United States is considered the biggest market.
"It is extraordinary how many American families have been touched by large losses from Internet gambling," said US Representative Jim Leach, the bill's main sponsor in the House, in a statement after its passage early Saturday.
The bill's chief Senate sponsor was conservative Republican Jon Kyl, who, like Leach, has said he believed Internet gambling was a moral threat. He has called online betting as the Internet version of crack cocaine.
(Excerpt) Read more at breitbart.com ...
You can use the WoT to excuse anything. I am not sure about many things but I AM sure that 888.com are not laundering money for Al Qaeda.
Ping
*""It is extraordinary how many American families have been touched by large losses from Internet gambling," said US Representative Jim Leach........."*
A legitimate issue, the financial losses. How about dealing with the biggest financial loss facing the American public, the one that Congress can un-create in a flash?
That loss is the poor sucker who goes into his IRA before age 59 1/2 to pay catastrophic medical expenses without paying the penalty taxes and fees. The IRS has entire call centers that do nothing but hound these people into bankruptcy and homelessness. C'mon Mr. Leach, allow an exception for medical expenses if you really care about the chilrun.
What this is about is the Las Vegas and Indian casinos paid off everyone to limit competition.
Good thing I can still gamble on stocks going up or down.
Oops! I mean invest my money on stocks going up or down.
It's all about the nomenclature, right congress?
From that Shakespearian classic "Demolition Man".
Thank you, President Bush, for saving me from myself.
Couldn't agree with you more. I'd consider myself and my kind to be about as right-wing extremist as it gets these days, and gambling is NOWHERE on our radar screens.
The Christian right is the straw-man of this whole gambling ban brew-ha-ha. It's really all about the domestic gaming lobbies(casinos, horses, lotteries, etc.) and about lost taxation opportunities (ie. the government not getting its cut).
Agreed,
Though if Rendell were to propose a slots casino in my community, it would make the top of my list! Internet gambling - don't think so. I do think it should be regulated.
ampu
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