Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
I am skeptical. How much can a casino in Chicago – and it must be located in a high traffic tourist area near downtown to be viable – obtain in terms of tax revenue each year? $50M? That doesn’t seem to scratch the surface in terms of closing the deficit. And casinos create all sorts of negative externalities, which of course are rarely discussed but yet which impose costs on us all. Relying on a casino to close a huge budget gap seems both to be a talking point and a huge fool’s errand. Property tax increases seem the most… Read more »