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United States could be missing out on some great revenues

United States could be missing out on some great revenues

We are all very much aware of the current recession that has resulted from the financial slow down. It seems that there is not a country in the world that has been left unscathed by at least some form or another of the hardship that this crisis has brought with it. Times are tough and people have to try and spend money in the best way possible and it can definitely be a challenge when there is not enough money coming in. This is the major issue that faces the United States government at present. During the last financial year, the government was unable to bring in the amount of tax revenue that it needed to fund a lot of the state and federal plans that are already ongoing. What became very clear very quickly is that there does not seem to be funding available for any new state plans and this is of course a major issue. The people of the United States rely on their government to support and shelter them, as does any other country for that matter and as the new financial year started in July, it became clear that this was perhaps not something that the government was going to be able to do this time round. In some states, basic services such as fire fighting were even threatened and government officials have had to be very creative in the ways in which they have found some of the required funds.

But there are some who argue that these officials have not been creative enough and that they are staring a gold mine in the face, but have chosen to ignore it. This is in terms of the issue of online gambling and then a slightly more controversial industry, that of marijuana. The argument goes that if both of these industries were legalized, licensed and then taxed, this would bring in a great deal of revenue for the government. On one level you certainly cannot argue with this logic, but on the other level if one is to stick to the moral issues at hand, then it is clear why there would be some resistance.

The key to each of these industries is the development of a sound regulatory frame work that would see to it that there were strict conditions in place for these two sectors.

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