LETTER: Take casinos public

Knowing that frequenting gambling casinos outside the state provides no revenue for our state or its residents, I envision that even
Sandusky Register Staff
May 24, 2010

 

Knowing that frequenting gambling casinos outside the state provides no revenue for our state or its residents, I envision that eventually gaming will become a reality. I have a suggestion wherein a public corporation could be established and several hundred million dollars or more could be raised through the sale of shares of stock in the public corporation. The shares would be available would be available to Ohio residents only and would generate enough funds to pay cash for the building and equipping a casino. It could also issue additional shares of stock to build more casinos as needed. Thus, there would be no mortgage to be paid.

The major casinos have entities that would operate the casino in Ohio, utilizing our residents as employees and supplies for all of the various aspects of a casino operation. Taxes on revenue would be paid in the form of a PILT (payment in lieu of taxes) to the local, state and federal governments as required, which would generate money for many meaningful purposes, including addiction clinics. Additionally, dividends derived from the operation would be paid to the Ohio shareholders and would be subject to taxes which, again, would be another source of revenue.

The net result is that all residents of Ohio would have the opportunity to profit by owning the stock instead of the ownership being held in the hands of a few promoters who, eventually, would reap all of the benefits and profits from the casinos, except for offering a few crumbs to be distributed to the variouscounties.

It would be an investment opportunity to those residents who wish to participate by owning stock and receiving the profits from the casino. You can bet on it.

Richard E. Grubbe

Huron

This was planned

Research indicates when a company locates in your community, hires a workforce, and pays wages, for every dollar paid in wages, that dollar is spent seven times over.

In other words, seven people benefit from each dollar paid in wages and salaries.

With that in mind, many residents in Sandusky County remember the employment they had with the companies that are no longer here: Acme Cleveland, Cal Van Tools, Chemitrol Chemical, Christy Co., Clauss Cutlery, Continental Fremont, D-G Trim, Double D Machine, Epco, Eaton Controls, Franks Machine, Fremont Battery, Fremont Special Machines, Fremont Foundry, Fremont Laundry, Great Lakes Sugar, Grove Machine, Husky, S.E. Hyman, Imperial Plating, Independent Pipe, Infant Items, Kellogg (Sunshine Biscuit), Kelsey Hayes, Kingsway, KOT, Nickels Bakery, Ohio Tank, Park Ohio, Peter Eckridge, Quikcut, Roadway Express, Troy Laundry, Union Carbide, and YergesManufacturing.

Many U.S. cities have lost proportionate amounts and the effects are devastating. The residents vote in taxes to support special projects and improvements while businesses often secure tax abatements which many times have a negative effect.

When businesses close shop, more expense and taxes are imposed on the residents. In hundreds of cities where minimal wages prevail, the chances of increased poverty, violence and crime exist. Thus, school systems and community improvements suffer. The dream of prospering and getting ahead is slipping away for millions of Americans. I believe this trend has happened not by accident, but by design and a reversal is merely a dream.

Thomas Gonya

Fremont