Miss. Taxpayers Beg for Crumbs from Rich Man’s Table
Some things just get under your skin, and House Bill 1196 presently being considered by Mississippi legislators does that to me. The short description given to it is, “Tourism; revise the definition of tourism projects for the ‘Tourism Project Sales Tax Incentive.’” The bottom line is that this bill will allow the gambling industry to take advantage of this – call it what it really is—tax rebate.
HB 1196 allows a corporation that invests a minimum of $10 million in a tourism project to receive a tax rebate for up to 10 years, not to exceed 30% of the estimated cost of the project. For example, if a corporation spends $150 million dollars on a project, Mississippi taxpayers could potentially return $50 million over ten years in tax rebates.
I do not oppose economic development and tourism projects, but I do resent giving more tax credits and rebates to the gambling cartel. Mississippi gaming businesses already receive an eight percent credit against their business taxes. This credit is applied no not only toward their gambling business but also non-gaming businesses they own – like hotels.
Now, HB 1196 says to the gambling cartel, “If you will build additional Projects C and D to attract even more tourists so they can gamble even more so we can get even more tax revenue, then we will give back to you up to 30% of your “estimated cost” in the form of a tax rebate. In 2007, Mississippi collected $332 million in taxes from $2.9 billion reaped from their gambling tables. How much more do you think taxpayers need to help the casinos?
I wonder what would happen if the coastal legislators and the Mississippi Tourism and Economic Development Councils went to those who lived or may still be living in FEMA trailers, those who are struggling to rebuild their homes or those who find it difficult to pay insurance, and asked them if they desired to give the casinos another tax break. I don’t think they would agree to do so.
When this bill was debated on the Senate floor, it was presented by Senator Billy Hewes III of Gulfport. Senator Gary Jackson of Kilmichael asked about the numbers and the amounts of money lost by the tourists/gamblers. Senator Hewes’ response was that if more theme parks, water parks, and cultural centers, etc., were built, it might keep more people out of the casinos.
Senator Hewes, we know Mississippi is on the bottom rung of the educational ladder, but if you think we are that dumb you should be working this hard on behalf of education in Mississippi and not for the casinos.
In Luke 16, Jesus tells the story of the poor man Lazarus begging crumbs from the rich man’s table. The rich man (gambling cartel) sits at a table garnished with $2.9 billion dollars and we (Mississippi taxpayers) sit at their feet begging for a few crumbs ($332 million) from their sumptuous table. The casino owners cast us a few crumbs and then rise with their sacks of gold worth billions, laugh at us, and then waddle all the way back to Vegas with their profits and rebates.
When you hear a legislator say we need to help this poor industry, ask them about Kirk Kerkorian, the major stockholder in MGM Mirage which owns the Beau Rivage Casino in Biloxi. According to Forbes magazine, his net worth is $16.0 billion, making him the world’s 41st richest man. He shuttles between his luxurious homes in Nevada and California in a private Boeing 737 jetliner that has two bedrooms on board. His pre-school daughter enjoyed a $70,000 birthday party. Our legislative leaders think poor Mr. Kerkorian needs a tax rebate. That gives new meaning to the phrase, “Your Tax Dollars at Work,” doesn’t it? Ask your legislator if he/she really knows how much casino tax money Mississippi leaves on the table in relation to other states, with the exception of New Jersey and Nevada.
Mr. and Mrs. Mississippi Baptist, this bill may be passed and have the Governor’s signature by the time you read this, but you can still ask your Senator and Representative how they voted on HB 1196.
Many legislators believe that if they do this in the first year of an election cycle, you will forget about it when they ask for your vote again in four years. Do not forget! I do not hate the gamblers, the owners of the casinos, or even the legislators who will vote for this bill, but I despise the lies and deceit under which this is being done.
Gambling is like kudzu: it will keep spreading until it kills, infects, or diseases everything in its path, including the government of our state. Sweetheart deals like HB 1196 are moving us there in a hurry.