The Maryland gambling gimmick provides tax cuts for casinos

I hate to be repetitive, but I told you so in 2010:

Expect no bids for the Baltimore slots license until the Arundel Mills situation is resolved:

“No sane business person will take a chance on legitimately bidding on the Baltimore slots license when the possibility of a lesser taxed competitor exists only twelve miles down the road. Slots at Arundel Mills will kill the the Baltimore slots plan. The city will have to pick a new location, drop the tax rate, offer financial incentives, or do a combination of all three in order for an entity to feel confident about making a profit off of slots in Baltimore.”


NEWS MEDIA CONTACT
CHRISTOPHER B. SUMMERS, President, Maryland Public Policy Institute 240.686.3510

AUGUST 8, 2012
FOR IMMEDIATE RELEASE

 O’MALLEY AGENDA: TAX CUTS FOR CASINOS, TAX HIKES FOR CITIZENS
Three months after raising taxes on families, Governor wants to lower them for casino owners

ROCKVILLE, MD – “Governor O’Malley’s gambling proposal lays bare his indifference to the tax freedoms of Maryland citizens across the income scale,” said Christopher Summers. “Just months after stating that ‘the republic is not built on gambling gimmicks’ Governor O’Malley is enshrining those gimmicks into Maryland’s Constitution with a tax carve-out for casino owners. Lowering the tax burden for casinos after raising it for hard-working Marylanders through the sales tax and income tax makes clear whose interests come first in Annapolis.”

The Governor’s gambling proposal, which can be found at this link, lowers tax rates for the State’s existing casino operators by as much as eleven percentage points. Yet Governor O’Malley has raised Maryland’s sales tax, which disproportionately impacts low-income Marylanders, by 20 percent and raised Maryland’s top income tax rate to nearly twice that of neighboring Virginia. Aides to Governor O’Malley are quoted in media reports as saying tax cuts for casino operators are needed “to make sure they remain competitive.”

“If Governor O’Malley was serious about making Maryland more competitive, raising the state’s top income tax rate to nearly twice that of neighboring Virginia didn’t help,” Summers continued. “At the Maryland Public Policy Institute, we believe in reimagining Maryland’s tax code so that the interests of everyday citizens and small businesses trump those of casino owners.”

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About Adam Meister

Baltimore politics. The views of Adam Meister.
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