Barney frank press conf at 4pm today

[Brock Landers]

Frank to unveil Internet gambling bill today




by Frank Angst

As promised, Congressman Barney Frank (D-Massachusetts) will unveil a bill that would establish a licensing and regulatory framework for Internet gambling operators.

If it becomes law, the bill would effectively end the current Unlawful Internet Gambling Enforcement Act passed in 2006. That legislation outlaws Internet gambling like poker and casino games but recognizes pari-mutuel wagering as one of the few legal forms of Internet gambling.

Frank has scheduled a press conference for 4 p.m. EST today to unveil the bill.

Likely looking into expanding its operations, advance deposit wagering outlet Youbet.com supports Frank’s bill.

Banks and financial institutions are called on to enforce the current UIGEA legislation by blocking gambling transfers, a policy many banks say is difficult to enforce. Frank is Chairman of the House Financial Services Committee.

Experts estimate regulated Internet gambling could generate between $48-billion and $62-billion in tax revenue over the next ten years.

[Brock Landers]

WASHINGTON, May 6 (Reuters) - U.S. House Financial Services Committee Chairman Barney Frank unveils Internet gambling legislation:


ANNOUNCES INTERNET GAMBLING LEGISLATION

SAYS LEGISLATION WOULD ESTABLISH FEDERAL REGULATORY, ENFORCEMENT
framework


SAYS TO INTRODUCE SEPARATE LEGISLATION TO DELAY IMPLEMENTATION OF BUSH-ERA ONLINE GAMBLING RULES

SAYS INTENDS TO MOVE NEW ONLINE LEGISLATION BEFORE AUGUST BREAK

BILL WOULD GIVE TREASURY DEPARTMENT POWER TO ESTABLISH RULES, LICENSE INTERNET GAMBLING OPERATORS

FRANK'S BILL WOULD ALSO GIVE TREASURY ENFORCEMENT AUTHORITY TO REVOKE LICENSES, IMPOSE FINES, BRING CHARGES

[jjgold]

Brock I never saw you so pumped up over something other than betting games

Man you want it past bad.

[Brock Landers]

Brock I never saw you so pumped up over something other than betting games

Man you want it past bad.

just tired of the bullshit and the hoops we have to go through. If it can be made easier i am all for that, and i assume so would everyone else here to.

I'd settle for Pinnacle being back though, the rest i can handle.

[topgame85]

Will c-span be covering this?

[Brock Landers]

Will c-span be covering this?

i'm sure it will be on somewhere, barney frank has a website you can check out, or his office you can call to find out.

http://www.house.gov/frank/

[Brock Landers]

Barney's original opposition

FRANK OPPOSES BILL TO BAN INTERNET GAMBLING (H.R. 4411)

U.S. House of Representatives
July 11, 2006
Mr. FRANK of Massachusetts. Mr. Speaker, I strongly disagree with the gentleman from Iowa with whom I often agree. I don't disagree with him entirely. I will stipulate that there is nothing in the Bhagavad Gita about gambling. But other than that, I don't think he got much right.
He says that gambling on the Internet does not add to the GDP or make America competitive. Has it become the role of this Congress to prohibit any activity that an adult wants to engage in voluntarily if it doesn't add to the GDP or make us more competitive?
What kind of socio-, cultural authoritarianism are we advocating here?
Now, I agree there is a practice around today that causes a lot of problems, damages families, people lose their jobs, they get in debt. They do it to excess. It is called drinking. Are we going to go back to Prohibition? Prohibition didn't work for alcohol; it doesn't work for gambling.
When people abuse a particular practice, the sensible thing is to try to deal with the abuse, not outlaw it.
By the way, this bill allows certain kinds of Internet gambling to stay, so apparently the notion is that those few people who are obsessive and addicted will not take advantage of those forms which are still available to them.
But the fundamental point is this. If an adult in this country, with his or her own money, wants to engage in an activity that harms no one, how dare we prohibit it because it doesn't add to the GDP or it has no macroeconomic benefit. Are we all to take home calculators and, until we have satisfied the gentleman from Iowa that we are being socially useful, we abstain from recreational activities that we choose?
This Congress is well on the way to getting it absolutely backwards. In areas where we need to act together to protect the quality of our life, in the environment, in transportation, in public safety, we abstain; but in those areas where individuals ought to be allowed to make their own choices, we intervene. And that is what this is.
Now, people have said, well, some students abuse it. We should work to try to diminish abuse. But if we were to outlaw for adults everything that college students abuse, we would all just sit home and do nothing.
By the way, credit card abuse among students is a more serious problem, I believe, than gambling. Maybe gambling will catch up. But we have heard many, many stories about young people who have credit cards that they abuse. Do we ban credit cards for them?
But here is the fundamental issue. Shouldn't it be the principle in this government that the burden of proof is on those who want to prohibit adults from their own free choices to show that they are harming other people?
We ought to say that, if you decide with your own money to engage in an activity that harms no one else, you ought to be allowed to do it. And once you say, oh, no, but that doesn't add to the GDP, and that can lead to some problems in families, then this is hardly the only thing you will end up banning.
The fundamental principle of the autonomy of the individual is at stake today.
Now, I have to say, I understand a lot of the conservatives don't like it because there are people on the religious side who don't like it. Some of my liberal friends, I think, are being very inconsistent. We are for allowing a lot of things. I mean, many of us vote to say, You can burn the flag; I wish you wouldn't, but you can. It shouldn't be a crime.
You can look at certain things on television that maybe other people think you shouldn't. You can do other things but you can't gamble. There is a fundamental inconsistency there.
I guess people think gambling is tacky. They don't like it. Well, fine, then don't do it. But don't prohibit other individuals from engaging in it.
People have said, What is the value of gambling? Here is the value. Some human beings enjoy doing it. Shouldn't that be our principle? If individuals like doing something and they harm no one, we will allow them to do it, even if other people disapprove of what they do.
And it is, of course, likely to be ineffective. The best thing that ever happens to illegal gamblers is when you do a measure like this.
I hope the bill is defeated.

[Boner_18]

This thing is gonna sink like a stone. Despite what the pinkos on this site believe, even Democrats think gambling is abhorrent. Who wants to pay taxes on winnings anyway?

[t-bone]

**** that corrupt faggot

[poker_dummy101]

This isnt that great. If you are in a state that already says its illegal for online gambling, then its not going to help you. Infact, if this bill passes, states can then opt out!

Also:

3) COLLECTION OF CUSTOMER TAXES.—Appropriate mechanisms to ensure
that all taxes relating to Internet gambling from persons engaged
Internet gambling are collected at the time of any
payment of any proceeds of Internet gambling."

They might start trying to tax you on ANY cashout.