New Waterfront Tax proposed HB 629-FN

garysanfran · 02-13-2025, 04:55 PM

Over time I have never seen a tax go away.

Over time I have always seen a small tax become larger and larger.

tummyman · 02-13-2025, 06:10 PM

I also got a reply. rep said they were a "NO".

John Mercier · 02-13-2025, 07:33 PM

Quote:

Originally Posted by garysanfran

Over time I have never seen a tax go away.

Over time I have always seen a small tax become larger and larger.

We just got rid of the Dividend & Interest tax.

Descant · 02-13-2025, 11:31 PM

Quote:

Originally Posted by garysanfran

Over time I have never seen a tax go away.

Over time I have always seen a small tax become larger and larger.

How long a time? The Interest and Dividends tax is gone. In a couple of years, those who want to bring it back will be gone too. Yes, something else will come along; certainly there will be many proposals that will fail. Weed and full scale gambling will still be out there. Maybe 10-12 years ago we had a Democratic majority with Lynch as Governor. They passed all sorts of taxes and fee increases. Gambling winnings tax, doubled the car registration fee, etc. They lost the next election and everything got rolled back or eliminated. The gambling winnings tax was devastating for Belmont and lottery ticket sales.

John Mercier · 02-14-2025, 12:17 AM

Belmont didn't suffer from that.
The previous owners decided to money launder.
The owners after that got themselves tied up with Rock Maple Racing.

Currently, they operate charitable gaming, and the State's take is 10 percent.

Descant · 02-14-2025, 02:34 PM

Quote:

Originally Posted by John Mercier

Belmont didn't suffer from that.
The previous owners decided to money launder.
The owners after that got themselves tied up with Rock Maple Racing...

More complications. It appears that the Simulcast business took a dive when the gambling winnings tax was implemented, 2009-2010. A track spokesman said they lost 100 jobs. The House calendar in March of 2011 reporting out HB 229-FN-A also referred to the tax as the cause of lost business. That bill repealed the tax in the spring of 2011.

https://www.bloodhorse.com/horse-rac...bling-winnings

John Mercier · 02-14-2025, 03:15 PM

They tried to lay blame all around...
Newman had a lot of excuses and didn't think through much of anything that was told to him.
Even after the repeal, they never recovered from short-sighted decisions.

But it is operating fine now.
And the State's take is 10%

02-13-2025, 04:55 PM	#1
garysanfran Senior Member Join Date: Jul 2009 Location: San Francisco/Meredith Posts: 1,581 Thanks: 679 Thanked 684 Times in 350 Posts	Over time I have never seen a tax go away. Over time I have always seen a small tax become larger and larger. __________________ Gary ~~~~_/) ~~~ ~~~~~~~~

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Biggd (02-13-2025)

02-13-2025, 06:10 PM	#2
tummyman Senior Member Join Date: Aug 2009 Location: Moultonborough Posts: 844 Thanks: 261 Thanked 688 Times in 245 Posts	I also got a reply. rep said they were a "NO".

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tis (02-13-2025)

02-14-2025, 12:17 AM	#5
John Mercier Senior Member Join Date: Jun 2021 Posts: 3,513 Thanks: 3 Thanked 621 Times in 512 Posts	Belmont didn't suffer from that. The previous owners decided to money launder. The owners after that got themselves tied up with Rock Maple Racing. Currently, they operate charitable gaming, and the State's take is 10 percent.

02-14-2025, 03:15 PM	#7
John Mercier Senior Member Join Date: Jun 2021 Posts: 3,513 Thanks: 3 Thanked 621 Times in 512 Posts	They tried to lay blame all around... Newman had a lot of excuses and didn't think through much of anything that was told to him. Even after the repeal, they never recovered from short-sighted decisions. But it is operating fine now. And the State's take is 10%