Recent Stories with tag barney frank

Here's Jim McDermott, of "the poker-faced 7th," explaining his position on CNBC, who ask him if his pragmatic defense of online gambling (everyone's doing it, so let's legalize it so we can at least regulate and tax it) extends to marijuana legalization. McDermott says he's on record as being in favor of medical marijuana, but that's as far as he goes.

The Seattle Times has the full story: In brief, illegal online gambling is supposed to amount to $5.8 billion annually, a figure that would no doubt increase if it weren't illegal. With no effective prohibitive enforcement on the horizon--and gambling legal in all kinds of other forms--Jim McDermott and Barney Frank are pushing for legalization.

The tax revenue--McDermott estimates $42 billion over ten years--would pay for "improved foster care and early-childhood education. McDermott would earmark a full 25 percent of revenue for foster child care, in fact.

The legalization move is opposed most vocally by Virginia's Bob Goodlatte, whom the Times says believes "legalizing Internet gambling would pave a path to addiction and financial ruin." The Seattle Weekly points out that Goodlatte's strict stance would also lead him to ban church bingo nights. In any event, McDermott's bill allows states to opt out of legalization if they'd like. So Goodlatte would be free to keep Virginia's foster care system safe from gambling profits.