Investigations: Beware the Red-Eye

Most gamblers die broke, which is probably their own affair. But according to testimony last week before the Senate Subcommittee on Investigations, gambling is also expensive to the nongambling citizen who has never filled an inside straight or placed a bet with a bookie.

Appearing as a subcommittee witness, U.S. Internal Revenue Commissioner Mortimer Caplin estimated that $25 billion in income goes unreported every year—and a healthy slice of the money is earned from gambling. Subcommittee Chairman John McClellan concluded that if all gambling income were reported, the U.S. Treasury would be...

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