Indiana Racinos Ask for Tax Break

Indiana ---
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The General Assembly passed legislation in 2007 allowing Hoosier Park and Indiana Live — then called Indiana Downs — 2,000 slot machines each at their pari-mutuel venues.
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Track officials said revenue from the slots was needed to keep their tracks and the horse racing in Indiana viable, and they agreed to pay $250 million each over two years to get the slots, as well as spend at least $100 million each to build the new casinos. The state imposed a graduated tax on revenue from slots at the so-called "racinos," which opened last summer.
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And then --
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the track and the state had misjudged revenue projections from the slots.
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And then --
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Racinos Ask for Tax Break
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If you want to see how whacked out our system of taxation is just look to Indiana. In June 2008, horse track owners asked the state to allow slot machines. This idea was sold as a means of 1) reviving the dying horse racing industry, and 2) raising substantial money for the state. Politicians who would rather allow gambling than impose taxes, readily agreed. The tracks have to pay a fee to provide slots, and then must pay a tax on their gross revenue. The tax is how the state was going to make its money. It turns out that even slots can't save horse racing and the tracks are losing money by he bushel. So naturally, the track owners are asking the state for a tax break. Now that is not all that surprising. Industries routinely show up at the legislature with their hands out looking for tax breaks. But the whole point in allowing the slots was to raise more tax revenue.
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This is just another example of what's wrong with the system. If the public wants services -- say police officers -- it should pay for them with broad based taxes. No gimmicks. No free money.
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See a pattern here?
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Remember that Indiana voted for 2,000 SLOT MACHINES at each location.
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In Misplaced Decimal Points, I included the text of legislation proposed by State Senator Marc Pacheco that included --

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The Attorney General is hereby authorized and directed to promulgate rules and regulations that allow for the installation of
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6,000 gaming devices, also known as slot machines,
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The licensing fee to be paid to the state for a license to operate a slot machine facility will be $25 million.
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INDIANA
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$250,000,000 (That's million)
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for 2,000 SLOT MACHINES
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EQUALS $125,000 PER SLOT MACHINE FOR LICENSING FEES
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SENATOR PACHECO'S RACINO & SLOT PARLOR PROPOSAL

Since 2 of the proposed locations are greyhound racetracks which will cease to exist, by law, on December 31, 2009, this proposal includes creation of 2 Slot Parlors.
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$25,000,000 (That's million)
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for 1,500 SLOT MACHINES at each of 4 locations - Raynham (Greyhound Dog Track) Park, Wonderland Greyhound Park, Suffolk Downs, Plainridge Racecourse
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EQUALS $16,666 PER SLOT MACHINE FOR LICENSING FEES
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The text of Senator Pacheco's Slot Parlor proposal deceptively labeled "Local Aid" can be found here: The DiMasi indictment

SECTION 11M. The Attorney General is hereby authorized and directed to promulgate rules and regulations that allow for the installation of 6,000 gaming devices, also known as slot machines, at any racing facility licensed under Section 3 of Chapter 128A as of January 1, 2009, in Bristol, Suffolk and Norfolk counties, and 300 gaming devices at the International Terminals operated by the Massachusetts Port Authority at Logan International Airport.

3. The licensing fee to be paid to the state for a license to operate a slot machine facility will be $25 million.

Those decimal points are so confusing, maybe we should appoint an impartial Blue Ribbon Commission to evaluate the numbers to ensure that any action taken by the legislature is in the best interests of Massachusetts residents.