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Little Biq Man
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LBM May Not Come Back
May 1st, 2019 at 7:00pm
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Or if he does, he will be a little salty:

https://www.click2houston.com/news/9-arrested-as-authorities-raid-2-houston-poke...

I hope my brother from another mother wasn't doing his own laundry there. 

Ok . . . what's the libertarian take?  No one mentioned money laundering in the "one good reason to ban gambling" or whatever thread. 

In a libertarian world as y'all envision, will money laundering even be a thing?

  
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Jeff
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Re: LBM May Not Come Back
Reply #1 - May 1st, 2019 at 7:21pm
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Little Biq Man wrote on May 1st, 2019 at 7:00pm:
Ok . . . what's the libertarian take?  No one mentioned money laundering in the "one good reason to ban gambling" or whatever thread. 
Do legal gambling operations launder money now? Do other legal businesses launder money?

In a nation with limited government and limited taxes, there really isn't any need to launder money. With constitutionally legal taxation, waitresses and waiters won't even need to hide their tips from the tax man. Smiley
  

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Little Biq Man
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Re: LBM May Not Come Back
Reply #2 - May 1st, 2019 at 7:47pm
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Jeff wrote on May 1st, 2019 at 7:21pm:
Do legal gambling operations launder money now? Do other legal businesses launder money?


They are reputed to do that.  There history that they have in the past.  No surprise.  People gamble often with cash and collect their winning in cash.  Exactly the type business that would seem ready made for  laundering money.  Abortion clinics also accept large amounts of cash so they may be targetted also.  Vending machines used to be, but they may be too "nickle and dime" for post-gold standard criminals to be interested in.

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In a nation with limited government and limited taxes, there really isn't any need to launder money. With constitutionally legal taxation, waitresses and waiters won't even need to hide their tips from the tax man. Smiley


Oh, sure!  That waitress wouldn't have to pay a penny of taxes no matter how much she made in  tips.  As long as she never bought anything . . .


  
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Jeff
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Re: LBM May Not Come Back
Reply #3 - May 2nd, 2019 at 7:10am
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Little Biq Man wrote on May 1st, 2019 at 7:47pm:
They are reputed to do that.  There history that they have in the past.  No surprise.  People gamble often with cash and collect their winning in cash.  Exactly the type business that would seem ready made for  laundering money.  Abortion clinics also accept large amounts of cash so they may be targetted also.  Vending machines used to be, but they may be too "nickle and dime" for post-gold standard criminals to be interested in.


Oh, sure!  That waitress wouldn't have to pay a penny of taxes no matter how much she made in  tips.  As long as she never bought anything . . .


So you don't think legal gambling is any more prone to money laundering than any other business... Isn't it illegal gambling that operates on a cash basis, because it's illegal?

Tip money gets spent whether it gets reported to the IRS as "income" or not. My point was, following the legal limits on taxation and being honest about the broad category of taxes into which wages and tips are correctly classified means that a tax on tips (and wages and salaries) must be apportioned, which makes it unlikely to have such a tax levied, and if one is, it will be extremely low.
  

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Little Big Man
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Re: LBM May Not Come Back
Reply #4 - May 2nd, 2019 at 8:56am
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Little Biq Man wrote on May 1st, 2019 at 7:00pm:
Or if he does, he will be a little salty:

https://www.click2houston.com/news/9-arrested-as-authorities-raid-2-houston-poke...

I hope my brother from another mother wasn't doing his own laundry there. 

Ok . . . what's the libertarian take?  No one mentioned money laundering in the "one good reason to ban gambling" or whatever thread. 

In a libertarian world as y'all envision, will money laundering even be a thing?



LoL!

No, “Biq.”  “LBM” isn’t salty.

There’re plenty of poker rooms in nearby counties.  I’ve been wanting to try them out, but I have a bad tendency of staying someplace where I’m comfortable even if there are likely other places that might be much better.    This board   Is a perfect example.
  

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Re: LBM May Not Come Back
Reply #5 - May 2nd, 2019 at 10:02am
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If there remain crimes that are profitable then money laundering will be a thing. 

Theft, fraud, assault/murder for hire will remain illegal, those folks will need to hide there income.  Any business that moves a lot of cash will be an attractive way to launder such earnings. 

Unless you replace income taxes with sales taxes or some other form of taxation that is directly tied to income.  If the government doesn't care how much you income you have they won't care where it comes from. 
  
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Little Big Man
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Re: LBM May Not Come Back
Reply #6 - May 2nd, 2019 at 10:25am
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I should have seen It coming, really.  The poker rooms in my area don’t seem to bring in enough money to support themselves The players only pay a daily membership of about twenty dollars at the most, then a seat fee of 7.50 per half hour at the most.  For that there is the room, the equipment, drinks and snacks, dealers and a floor man. 

They get nothing from the cash that the players buy chips with, unlike casinos.  That’s why playing poker in Texas can be so much more profitable than other states.  Fine with me if they really make their nut by laundering money. 

The law is ambiguous as to whether “rake-free” poker is legal in this state.  It’s “legal” in Texas because the state attorney general said he won’t be prosecuting.  But a county attorney like Kim Ogg of Harris County, has the power to interpret the law as she sees fit.  Naturallly, she will make decisions based on her own interest rather than any good of the public.  Fundamentalist Christians, poverty advocates and other busybodies have more voting clout than poker players, so it was an easy decision for her.

Reason number 12,378 that government sucks.

  

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Little Big Man
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Re: LBM May Not Come Back
Reply #7 - May 2nd, 2019 at 4:04pm
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Notice in all the news stories, the.  County DA states “poker rooms are illegal” not, “money laundering is illegal.”   By charging them with money laundering (whatever the statute calls it,) they can seize their money this preventing them from hiring a lawyer. 

Watch for them to plead to running an illegal gambling operation in exchange dropping the money charges.  Now the county has a precident that no-rake poker rooms are illegal so they can close them all down.

Ok, maybe I’m a little salty . . .
  

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Jeff
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Re: LBM May Not Come Back
Reply #8 - May 4th, 2019 at 7:34am
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Little Big Man wrote on May 2nd, 2019 at 4:04pm:
Notice in all the news stories, the.  County DA states “poker rooms are illegal” not, “money laundering is illegal.”   By charging them with money laundering (whatever the statute calls it,) they can seize their money this preventing them from hiring a lawyer. 

Watch for them to plead to running an illegal gambling operation in exchange dropping the money charges.  Now the county has a precident that no-rake poker rooms are illegal so they can close them all down.

Ok, maybe I’m a little salty . . .
You don't seem very salty to me.
  

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The Opposition
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Re: LBM May Not Come Back
Reply #9 - May 4th, 2019 at 8:37am
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ahhell wrote on May 2nd, 2019 at 10:02am:
If there remain crimes that are profitable then money laundering will be a thing. 

Theft, fraud, assault/murder for hire will remain illegal, those folks will need to hide there income.  Any business that moves a lot of cash will be an attractive way to launder such earnings. 

Unless you replace income taxes with sales taxes or some other form of taxation that is directly tied to income.  If the government doesn't care how much you income you have they won't care where it comes from. 


The solution is to make theft, fraud, assault and murder legal.

The market will take care of it.

Cheesy
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
-SnarkySack
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