Financial Services Hearing on Regulating Internet Gambling

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Safe and Secure Internet Gambling Initiative Supports Legislation to Remove Unnecessary Government Prohibition on Internet Gambling The Safe and Secure Internet Gambling Initiative announced its support for the Internet Gambling Regulation and Tax Enforcement Act, introduced today by Congressman Jim McDermott (D-WA). The bill would create a taxation regime for online gambling companies to be licensed under the recently introduced Internet Gambling Regulation and Enforcement Act (H.R. 2046). As Congress works to find funding for critical government programs, Congressman McDermott's legislation is expected to generate between $6 billion and $25 billion in revenues for the U.S. Treasury in the first five years of enactment. Congressman McDermott's legislation functions as a companion bill to the Internet Gambling Regulation and Enforcement Act, which would establish a licensing and enforcement framework for regulated Internet gambling in the U.S. For more information please visit www.safeandsecureig.org.

Channel: News & Politics
Uploaded: June 8, 2007 at 3:16 pm
Author: safeandsecureig

Length: 0:07:28
Rating: 5.00
Views: 4,169

Tags: House Financial Services Committee internet gambling barney frank robert wexler ron paul securetrading online betting

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Video Comments:
yahoovisitor (Saturday 11th of October 2008 11:30:12 AM)
In the western countries its a big source of tax earning and the gamblers are now turning their move towards the east where due to lack of education and literacy its easy to fool a poor man and get funds released on the name of awards.USA and its allies who for want of funds for destruction of peace on globe encourage the internet gamblers to commit this blunder. As USA is already destroyed as regards its economy and it can be an indirect source of earning money for this purpose.
dan020350 (Thursday 7th of August 2008 01:42:49 PM)
why do you have to pay taxes on casino winnings? Its a win -win situation for the govt or rather fed reserve.
yahoovisitor (Tuesday 5th of August 2008 07:00:28 AM)
Spam emails announcing a free lotto award or acquiring the funds of some deceased customer of any bank around the globe are being received at a very high pace. If the person concerned agrees with the thought of the mail sender, he is financially destroyed and when he expresses his inability to pay a single penny the emails stop. This is a very famous form of internet gambling. Western countries are earning a huge amount of tax by this gambling later on used for destroying the global peace.
bvagasky (Saturday 29th of December 2007 05:35:19 PM)
Frank and Paul are two of my favorite congressmen. Ron Paul for President!
Driftwood7979 (Saturday 15th of December 2007 03:00:55 AM)
Keep fighting boys, we're behind you!!!!
Lizi99 (Friday 9th of November 2007 06:49:08 PM)
If gaming could be regulated so American dollars are not funding the seedy underworld. Give Americans a venue to play that allows the money to go into funds like Social Security, Medicare and Health Care....everyone wins then. Lizi
GenericGene (Saturday 8th of September 2007 09:38:33 PM)
Regulated gambling on line can be implemented with secure player protection. This can be to the benefit of government and casino alike. The casino executives in this clip, they have some very interesting points. Online gambling may very well limit gambling addiction and be a path to responsible gaming. Gambling is only a word for those who do not understand the mechanics of games of chance, and may well do to be more educated in the entertainment value. Jady Davis
heres2football (Sunday 12th of August 2007 11:51:26 AM)
ALL HAIL BARNEY FRAMK
SlickExecutiveType (Sunday 24th of June 2007 10:37:24 PM)
If you do not fight this now, you will not be able to fight it later when they come for your news. GOVERNMENT - THE INTERNET IS OURS. STAY OUT.
PMorphy65 (Sunday 24th of June 2007 06:01:57 AM)
Is this a test run to regulating the Internet? Give them an inch, they take a mile theory. This attempt to regulate Internet gambling smells bad. Less control and more freedom is what this world needs.