The Weekly Dig does more, uh, digging, and discovers that a casino in Middleborough is not exactly the cash bonanza it's made out to be: $100 million.
A million here, a million there, and sooner or later you're talking real money. But not yet.
-The state's operating budget this year is $26 billion. The casino would bring in 1/260 of that amount.
–$100 million would be only 25% more money than what we get now from the taxes on alcoholic beverages, which this year totaled $72 million.
–$100 million is less than a quarter of the haul we get from taxes on cigarettes, which gave the state $426.3 million this year.
–It would be about a tenth of what we get from the lottery, which was $1.1 billion this year. (Incidentally, the Globe article calls the Wampanoag casino a “$1 billion casino resort.” We'll only see a tenth of that billion.)
And what’ll $100 million a year buy?
–Not quite the yearly interest we pay on the debt for the central artery, which this year was $112,596,000.
–Or, less than 1/7 of the state’s share of group insurance, which this year cost $736,866,118.
–Or, the costs of the retired municipal teachers’ premiums and the audit of such premiums, which this year cost $83,926,853. (In other words, hardly the cash infusion into the school system State Rep. McCarthy thinks it is.)
–Or, a sixth of the Green Line extension to Somerville, which will cost $600 million.
tax-phobic plain ol' incoherent Jon Keller would rather see a tax hike than create all this hassle for a measly $100 mil.
Not worth the trouble, Deval. But you know that, don't you? The longer he waits, the less likely this thing becomes.