Politicians Are Killing Atlantic City

That drop in casino revenue means the loss of over 5,000 jobs in the city, about one-fifth of the total casino workforce. As 65 percent of the city budget comes from casino property-tax revenue, municipal employees will also face layoffs, and the city plans to hike property taxes on residents 29 percent to make up the difference. This urban tragedy should also trigger an end to the fiction that cities can, in the words of blogger Duncan Black, “gamble their way to prosperity.