https://pixabay.com/On Monday, the U.S. Supreme Court heard a case involving sports betting in New Jersey that could pave the way for legal sports betting throughout the country. Many states are excited about the revenue sports betting could bring in, but they should temper their enthusiasm. Like state lotteries and casinos, states would look to tightly regulate and tax any legal sports betting, bringing in additional government revenue in the process. But optimistic projections about gaming revenue rarely materialize. This runs counter to one of the components of good tax policy, vertical equity, which is the idea that the tax burden should rise with a person’s ability to pay.

Source: Forbes December 05, 2017 17:37 UTC