Word: betting
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...Folk and Myth—I bet that there is a lot of fashion floating around that department. Yeah, everyone in Folk and Myth has his or her own style...
...their President is for their bottom line. But if they don’t know, it may be because they don’t care. I haven’t been able to find a breakdown of political knowledge by political priorities, but I’ll bet you that those people who think Bush loves poor people aren’t the ones who vote based on the economy. If you think abortion is mass murder and only George W. Bush will put an end to it, you don’t really have to know his tax plan...
...Wong, 65, says that if racing revenues fall to $6.4 billion?not unrealistic at the current rate of descent?charitable contributions will have to stop. To keep that from happening, the club is calling on the government to?of course!?reduce the gambling tax. On average, 13.5% of every bet is skimmed off by the taxman. Wong, a Michigan State University engineering graduate who worked for 30 years at Ford Motor Co. before becoming jockey-club CEO in 1996, says that rate is among the highest on horse racing in the world?so high, Wong maintains, that it encourages competition...
...club's gross profit instead of its revenue, which would allow him to increase the payout on winning tickets and lure back punters who are patronizing illegal offtrack shops. As proof, Wong points to the United Kingdom, which made a similar change three years ago and saw annual betting income surge 82%. Indeed, there are echoes of the Laffer curve in Wong's proposal: allowing individuals to keep more of their winnings may actually maximize overall revenues. "I'll bet more if there's more money to win," says Lam Siu-kit, a 54-year-old security guard who goes...
...dollar's decline. China's sidewalk banks--illegal but tolerated money changers--are doing a land-office business swapping dollars for renminbi (RMB), the Chinese currency, because canny Chinese now think that the RMB is a "safer" currency than the greenback. They are making the same "one-way bet" as currency traders all over the world, who calculate that the only way in which the record U.S. trade deficit can be brought under control is if the dollar declines, hence making American exports relatively cheaper in foreign markets and, say, Chinese imports relatively more expensive at your local Wal-Mart...