In the showdown between lawmakers and the state’s casinos, it’s looking like everyone has come to the negotiating table armed and ready to shoot. By the time the smoke clears in an environment of uncertainty, one or several of the players could wind up with a bullet in the leg.

All of the conditions are set for trouble. A cash-strapped Iowa Legislature has the nasty job of correcting a policy that taxed land-based racetracks at a rate nearly double their riverboat competitors. We’re guessing that it had something to do with the fact that riverboats (at least some of them) could float downstream if their owners thought they were overtaxed.

Most important, the players have been willing to take the issue all the way to the U.S. Supreme Court. And now, with the ruling by the Iowa Supreme Court that taxing the two entities differently couldn’t continue, the gun waving and horse-trading has begun.

Foremost, state and local governments are working to pare their employment rolls, but their spending continues. According to a recent report from the Iowa Taxpayers Association, while the state’s population rose less than 1 percent from 1980 to 2000, government spending nearly tripled.

Second, though gambling money clearly benefits casino operators and government coffers, there’s no clear evidence casinos benefit a local economy overall. For every announcement that Prairie Meadows Racetrack and Casino has “donated” another $10,000 to local charity XYZ, there’s a busload of Iowa’s elderly, Social Security checks in hand, pulling into the parking lot to spend money.

There are several proposals on the table now to fix the problem, including a property tax “hammer,” as House Speaker Christopher Rants put it so delicately to a local newspaper. More are likely to spring up in the coming weeks.

Amid the negotiations, we ask that lawmakers avoid laying the foundation for another casino in Greater Des Moines, especially downtown.

Despite our distaste for the industry because of the social problems it creates, we oppose a new casino for economic reasons. It’s unlikely any new operation in Des Moines would suddenly attract more gamblers, and without any growth to the total economic pie, there’s little reason to support a new casino. Indeed, a recent consultants report indicated that a new gaming operation in Polk County would hurt Prairie Meadows.

If the state decides it needs more money, we think it’s better to squeeze the casinos we’ve got, rather than add more.

No matter what happens, it’s hard to see how Polk County will lose. If the state raises taxes on all gaming operations to the level racetracks pay, Polk County’s cut from Prairie Meadows won’t change. If lawmakers lower taxes, Prairie Meadows stands to become more profitable, and Polk County’s share of the loot grows.