Proposal for Gambling Proceeds to Flow to First Australians
Australian MP Bob Katter proposes directing funds yielded from gambling taxes to flow back to the First Australians and war veterans. A new proposal is being prepared to be floored in the Australian parliament, Bob Katter MP is adamant that the flow of funds currently pouring away from the shores of Australia via the regulated online casinos located in foreign countries, needs to be redirected. The mechanics of this deal are tricky to grasp, but we will be going into much deeper detail below and explore how Australia is planning to re-direct vast swathes of capital towards First Australians and returned war veterans.
The Aboriginal communities of Australia could enjoy exclusive rights to an extremely profitable gambling sector structured around land-based casinos, similar to the current system in the United States if the current legislation passes. ©ianknabble/Pixabay
The plan being put forward by the passionate politician is by no means an easy project. To alter the economic mechanics of the current gambling cash flow system will take major reforms, a shift in attitudes, and compliance from all industry stakeholders. The first stage of the project is to gain legislative support for these proposals, that is the current stage that we find ourselves in, and Bob Katter is preparing his argument for politicians. But as he admits, it is difficult to bring about change, governments move slowly and bureaucracy often prevents meaningful solutions being reached in a timely and prompt fashion.
Owing to a success in parliament, the plan to be executed will be wide-reaching and impactful for millions of working-class citizens in Australia, it is as follows. Much of the economic benefits that corporations enjoy from gambling proceeds are not evenly distributed across society. In fact, the majority of the proceeds do not even stay within Australia, most of the money is captured by off-shore firms who target the Australian market. This wealth migration is very damaging for the Australian economy, and there is no easy solution. But one that Bob Katter is proposing will ensure that First Australian communities who currently see none of the benefits, will receive an injection of funds into their disadvantaged communities, funded by gambling profits.
Positive Wealth Distribution Similar to America
The ultimate goal of these drastic economic policies is for wealth distributions, which according to the architect of this bill, has been suffering a catastrophic imbalance for decades. One of the worst afflicted industries for this imbalance is the gambling sector. The wealthy corporation bosses in Australia are pocketing millions from the proceeds of casino gambling, and they are facilitating the extraction of huge pools of wealth in the communities of First Australians.
First Australians have suffered tremendously under the rule of white socio-political elite in Australia, much like their American counter-parts. Native lands were ravished in the late 18th and early 19th centuries, and the disadvantage start in life that many of these individuals suffered never truly recovered. The United States operates a system where lands controlled by native American tribal peoples are able to operate land-based casinos. These establishments enjoy exclusive rights to legalized gambling in many U.S states, and it has played a vital role in strengthening the economic power of these minority communities, and has been a huge driving force of racial equality.
As the chief architect of this new legislation to the Australian parliament, Bob Katter MP argued live on Sky News television.
All the gambling now in Australia is done online, and most of those funds are going off-shore, we want to change that in our direction… it would return the money back to us so we can look after ourselves.Bob Katter MP, Australian Parliament
If such a plan was to be replicated and introduced in Australia, there would be significant support from across both political parties. Economists and politicians alike have been searching avidly for a solution to the social inequality that exists. Gambling revenues represent a large untapped opportunity that could swing the balance back in favor of the most disadvantaged members of society.
Funds Also Directed to War Veterans
Another disadvantages group of society that could see a major economic benefit if this legislation is to be passed will be those individuals that have served on active operations for the Australian military. Many war veterans suffer economically after leaving military service, and it is a major failure of any country who fails to protect these individuals who have risked their own lives for the daily freedoms that their fellow citizens enjoy.
Under the legislation, war veterans would receive a universal basic income regardless of wealth which would be directly funded via casino revenues. However, this mechanism would require a very structured approach with the details of how exactly this will be implemented still unclear. The organization of all these funding projects would be overseen by a new committee of politicians and business leaders who would distribute the funds raised via taxations and on-shore land-based casinos.
