Today's PPA Update...

[Kurn]

I wonder if Kurn will approve of the one that has the "revenue component."


I just read the outline of the Revenue Amendment which is basically a tax-enforcement rider. I'm sure it simply outlines the proceedures that need to be put in place to ensure reporting and collection of all internet-gambling generated revenues.

What it is not is a bill to amend the tax code. Why would the supporters of the Frank bill want to amend the tax code in such a way that would decrease expected tax revenues from the legalization of internet gambling?

IMO this will be a nightmare, and the only solace that I take is that the Frank bill, once the NCAA, MLB, NBA, NFL, and NHL lobby get going, has no chance of passing.

I stand by all my previous posts. I favor the status quo of a toothless UIGEA than the brave new world of legal internet gambling watched over by a fanged IRS.