15 February, 2016

Gambling: It’s Only Okay If the Government Says So, or, Your 401K Retirement Plan is Tied to a Giant Gambling Operation

Posted by Socrates in double standards, gambling, gambling-as-legal, retirement, stock markets, stocks and bonds, taxes at 6:02 pm | Permanent Link

A few years ago, the police raided a local business that was hosting poker games in the back room; the jackpots were maybe $300 each – small stuff; people were actually arrested for gambling! Yet, how strange that other forms of gambling (the stock market, the lottery, horse racing, etc.) are perfectly legal, as long as the government either profits from them (via taxes) or at least regulates them. By the way, the majority of company retirement plans are invested in the stock market, and many workers are unaware of it. If the stock market goes down, then so do their pension funds.

[Article].


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  7. 3 Responses to “Gambling: It’s Only Okay If the Government Says So, or, Your 401K Retirement Plan is Tied to a Giant Gambling Operation”

    1. fd Says:
      16 February, 2016 at 11:07 am

      If money is changing hands, the Federals want a piece of the action. This is why the CIA is a big player in the black market drug trade. These people have extracted billions of dollars from the flow of drugs. Payola is the law of the land. We must pay the racketeers in Washington to live on the continent.

      . . . we still find the greedy hand of government thrusting itself into every corner and crevice of industry, and grasping the spoil of the multitude. Invention is continually exercised, to furnish new pretenses for revenue and taxation. It watches prosperity as its prey and permits none to escape without tribute.”

      –Thomas Paine, Rights of Man, 1791

    2. archer Says:
      18 February, 2016 at 8:23 am

      The stock market is a con game and has been manipulated for generations, even good old uncle Bernie Madoff said, “I learned early on that the game is rigged”.

    3. Gilbert Yandow Says:
      11 March, 2016 at 8:36 pm

      To speak his thoughts is every freeman’s right, in peace and war, in council and in fight.