Warren Buffett, in his first sit-down since stepping down as Berkshire CEO, gave the cleanest indictment of legalized gambling in a decade. He called it a tax cut for the wealthy. The math proves him exactly right. Americans wagered $165 billion at legal sportsbooks in 2025. They lost $16 billion of that. FanDuel pulled $6 billion of the losses. DraftKings pulled $5.3 billion. Every state with legal mobile sports betting collected a tax on the bettor side. New York alone took in over $1.2 billion in 2025 sports betting tax revenue. Layer the lottery on top. State lotteries generate over $90 billion a year. The bottom half of income earners account for roughly 70% of total spend. The average lottery player makes $38,000. A household earning $20,000 spends three times more on tickets than one earning $30,000. The implicit tax rate, meaning whatever the state keeps after prizes, runs 30 to 50% depending on the game. No other revenue source in America has that base and that rate. The structural design is the engine. A single straight sports bet carries a hold of 4 to 5%. A four-leg parlay carries a hold above 30%. FanDuel and DraftKings spent five years rebuilding their apps to make parlays the default product. FanDuel's blended hold rate hit 11.4% in 2025, up from roughly 7% in 2022. The product got worse for the customer and the customer wagered more anyway. Now look at the substitution. Nine US states have no state income tax. Seven of those nine run state lotteries. Seven of those nine have legalized sports betting. The states most committed to never taxing wealth are the same states running the largest extraction machines on people who cannot afford to lose. Read it as policy. Here is what Buffett is actually pointing at. The state needs revenue. It can raise income tax on the top decile, or it can run a lottery plus a sports betting tax. The second option raises the money from the people who can least afford it. The first option becomes politically optional. New York's $1.2 billion in 2025 sports betting tax is $1.2 billion the state did not have to ask of someone earning $5 million. DraftKings and FanDuel sell a privatized collection mechanism for a regressive tax that the state never has to defend at the ballot box again. Voters approve legalization once. Collection runs forever. The state takes a cut. The wealthy get a quieter top bracket. The bettor's cut shrinks every quarter as the parlay menu gets pushed harder. The function of a government, Buffett said, is not to play its people for suckers. Thirty-nine state governments now do.

After years of hearing Republicans defending extreme gerrymandering, their hypocritical whining is music to my ears. #NCPOL open.substack.com/pub/politi…

Congratulations to Jason Johnson, the principal of Orange High School, for taking home the 2026 National Principal of the Year award! Thank you for your continued dedication to uplifting public school students in our district and shaping our future generations for the better. chapelboro.com/news/pre-k-12…

Had an amazing convo w/ @ericbahn ! Thanks for the opportunity to share @acta_io's story

by 6 votes!

.@HRC 2023 rating 💯 again! Local government scored highly for leadership’s commitment to LGBTQ equality & its “responsible reporting of hate crimes.” …also picked up several flex points thanks to services to LGBTQ youth, elders, transgender, and unsheltered populations #Pride

Fossil fuel companies are delaying enacting our existing solutions, burning up the planet, so they can continue to make profits…. Take a look at Duke’s proposed NC carbon plan. It’s not in the best interest of consumers, the planet or our health and well-being. It’s profits!

Jim was a wonderful person who did so much for our Town. I'm so glad we're able to do something to honor his life.

Pedestrianization: What can Chapel Hill learn from Cardiff? triangleblogblog.com/2023/11…

Our President and CEO, @ThomRuhe, kicking off Day 3 of our #2023EcosystemSummit! A huge thank you to all our attendees joining us today in #RaleighNC to celebrate #entrepreneurship with us. #2023EcosystemSummit #NCecosystem #ecosysteming

Welcome to our highly-anticipated #2023EcosystemSummit! We're thrilled to host our incredible ecosystem leaders and partners over these next 3 days in #RaleighNC. Get ready for dynamic conversations, impactful networking, and a deep dive into shaping the future of economic development in our state. Remember to share your #2023EcosystemSummit moments and tag us (@NC IDEA) during these next three days! #2023EcosystemSummit #NCecosystem #ecosysteming

Some big news from your Hometown Radio Station this morning!! 🥳

Thrilled to be kicking off Global Entrepreneurship Week at the @ncidea #2023EcosystemSummit

To all those celebrating, Happy Diwali! May your Diwali be free from darkness and abundant with light.

TOMORROW we kick off our #2023EcosystemSummit! Get ready for three days packed with dynamic discussions, valuable connections, and a fresh perspective on entrepreneurship and equitable economic development. Engage with over 50 nationally recognized leaders and esteemed VIPs from #NorthCarolina's vibrant ecosystem. Mark your calendars for Day 2 - the 'Ecosysteming with Experts' panel is a must! Discover insights from #NCecosystem leaders and learn how to tap into the wealth of resources available for #entrepreneurs. NOW is the time to secure your seat. We look forward to #ecosystem with you all in #RaleighNC! Register: ncidea.org/summit/ #NCIDEA #NCecosystem #ecosysteming #2023EcosystemSummit

in the coming weeks, we have pieces coming out on: - how to make your yard habitat friendly (with the help of our local new hope Audubon chapter) - weaver street owner numbers - parking reform - changing demographics in carrboro - covenant research - campaign finance

Love is love

Chalt AND duke in one week !?!? #gdtbath #goheels

🙌🙌🙌🙌🙌🙌🙌👏👏👏👏👏👏👏👏👏👏👏🫶🫶🫶🫶🫶🫶🫶🫶

On this #VeteransDay, we honor the many community members who've served our country and we give special thanks to those who continue to serve our community as dedicated Town of Chapel Hill staff members. 💙💚