(Originally written November 5, 2010)
Nothing great was ever achieved without someone taking a risk along the way!
Prop 19 in California failed. Full legalization of marijuana. And basically all it’s economic ancillary components that accompany that industry in the state. I’m in the works of composing what I think is a strong thesis to send to Governor Christie of logical reasons why NJ needs to do so. In light of CA shortcomings, opportunity is knocking Mr. Governor! This warrants at least serious consideration to compensate for Atlantic City’s now “nationally saturated casino gaming market” and massive loss of tax revenues by default. Revenues that will only see further future decline, as the rest of states in nation crank up thier own gaming plans and snatch market share. To make up for their own plummeting tax revs, stemming from property tax delinquencies, foreclosures, and recession. This move to legalize pot in NJ, and while at it, also prostitution and sports betting. And affixing an exorbitant ” Luxury Tax” to it. Regulate it (JOBS), set up mom and pop shops (JOBS) that Walmart wont kill off. This in my opinion could be the one thing that saves NJ from fiscal ruin and for sure economic malaise, if not even going the way of the 8-track tape so to speak. This move would be also political and fiscal genius on Christies part. It would bring his far Left Opposition to his Center/ Right Republican views and actions of late. Raising revenues without raising taxes. That is “winner-winner-chicken-dinner” on both sides of political aisle. Generate enough if not more, tax revs and the JOBS that would lower some of the nations highest property taxes. The best thing accompanying this courageous political and social venture. Combined with Christies cost cutting recipe’ measures of late as bonus. Christie, based upon past actions and comments, is on board with it already. Via legislation set in place by former Gov Corzine on the way out the door.
Lets seriously consider turning Atlantic City into the East Coast City of Sin per se. Little Amsterdam of the East Coast. Swanky hip smoke shops and head houses, coffee and bake hash/ pot shops, cozy pot friendly bed and breakfast’s with opposite or same-sex company if ya desire, and sinful XX night life. Because AC and Vegas are no longer an exclusive duopoly on gaming and moral sin in the nation. We need to at least consider this to survive, and NJ could be ground breaking along these lines. If not for Federal Laws superseding State Laws. That in the past has been dealt with a blind eye tactic in lieu of economic revs method. But that don’t cut the mustard when looking for Fortune 500 investment. I sincerely think and polls show, that this could pass referendum vote in NJ. I was also very disappointed that Rutgers University took a pass on being the first college to grow medical pot for sale and distribution in medical dispensaries across the state. I feel it was a bad move on their part. Fiscally at the minimum, based upon future college tuition revenue shortcomings they will face. Even know they cited reasons as Federal Laws. Atlantic City, and it’s leadership, should’ve at least been fighting to have located one of the three dispensaries planned for the state in the City. They owe Atlantic City that for 30 some years of Gaming Tax Revs. And if it dont work out, we can always repeal it. Desperate times call for desperate measures I believe.
“When written in Chinese the word crisis is composed of two characters. One represents danger, and the other represents opportunity” – JFK
January 13, 2011
I think this is even more a possibility with the Governor’s recent actions >
Christie to propose cutback of CCC’s authority over A.C. casinos. And the recent signage of S-1866
*These facilities will be permitted to have a minimum of 200 bedrooms, as opposed to the 500-bedroom minimum imposed under current law.
Under the law, a small scale casino can remain at 200 rooms, but a staged casino will be required to expand to a full scale casino (i.e., 500 rooms) within 5 years.
The bill limits the Commission to issuing a maximum of two new licenses, at least one of which shall be for a staged casino, and licensees will be required to construct new facilities that are adjacent to the Boardwalk, as opposed to rehabilitating existing facilities or building within the Marina zone.
Can you sayyyy “Little Amsterdam” and “Red Light District” coming to AC?……I CAN!