Gov. Andrew Cuomo laid out his economic priorities in his recent State of the State address. Apparently, he has determined that the next gold mine for upstate New York are casinos, which have proven to be the most significant voluntary tax available to state governments.
The governor rightly points out that the state has been in the gambling game for some time, so now it’s time to do it right and get our cut. The following day he told western New Yorkers not to expect a casino anytime soon, so maybe that’s not all bad – at least until the rules change.
The fallacy of casinos as a regional economic growth strategy is best captured in a quote from Steve Wynn, a renowned casino operator, to a local businessman in Bridgeport, Conn.: “There is no reason on earth for any of you to expect for more than a second
Brian Schiedel is responsible for monitoring daily valuation recordkeeping services, ensuring that transactions meet strict procedural guidelines, and providing compliance and other consulting services for Burke Group’s retirement plan clients. He serves as the direct Relationship Manager for more than 30 retirement plans.
Prior to joining Burke Group, he obtained his bachelor’s degree in management science from the State University of New York at Geneseo. He has also obtained the Qualified 401(k) Administrator (QKA) designation through the American Society of Pension Professionals and Actuaries (ASPPA).