Saturday April 12,2014 : ADELSON LIEUTENANT SPEAKS TO REPUBLICANS ON INTERNET GAMBLING
The feds want more tax money, says Leven.
Michael Leven, the chief operating officer of Sheldon Adelson's Las Vegas Sands land casino group addressed a small group of VIPs at a breakfast meeting before the Nevada Republican Party convention kicked off in Las Vegas Friday, claiming that US federal officials support the idea of legalised online gambling in the United States because it is the source of more tax income to fund federal government spending that is "out of control".
Leven's company, which is one of the biggest Republican Party donors, is resolutely opposed to online gambling and is backing the Chaffetz-Graham federal bills currently before the Judiciary Committees in the Senate and the House, proposing the prohibition of all online gambling except that associated with horse racing.
Leven went on to propose a simpler, flat-rate tax structure and gave various examples of what he regarded as unfair and inefficient tax administration. This included his personal experience where delays by the IRS in finalising his tax payments had resulted in the government having to add $40,000 in interest to his refund on tax payments – an illustration of bureaucratic wastage.
According to Forbes, in 2012 Leven drew an annual salary of $3 million, boosted by share and other compensation worth $15 million.
In another example he revealed that Adelson – worth around $38 billion – collects (and immediately gives away) monthly social security payments paid to him because the 80-year-old land casino baron is over 65 years of age and has two teenage sons.
Leven said US federal government was too big and too wasteful, especially on entitlement programs that have gone beyond basic benefits.
The result was government spending that is out of control and needs to be reined back in by a change in government at the next elections.