BS: Slap me if I read the news

Subject: BS: Slap me if I read the news
From: Doug_Remley
Date: 14 May 03 - 03:44 PM

Can anyone shed light on lotteries, a regressive tax in fact, but who runs them, where do the profits go in fact, what percentage of profit goes where (regional, local, national lotteries)? I sense the payoffs are a percentage and know the odds are ridiculous, but even some (supposedly) rational acquaintances smirk to say, "you can't win if you don't play!"

Subject: RE: BS: Slap me if I read the news
From: Rapparee
Date: 14 May 03 - 03:47 PM

Yeah, and you can't get hit by an asteroid if you don't go outdoors -- but the odds are greater than winning the lottery.

Subject: RE: BS: Slap me if I read the news
From: PeteBoom
Date: 14 May 03 - 03:57 PM

Lottery = Stupid Tax...

Where the money goes depends on where you are. The trick is that in many cases there is a bit of a shuffle/bait-and-switch going on. For example, Michigan proclaims "Michigan Lottery supports education." In and of itself, this is a true statement. However, the State budget has a given amount of money expected to be received from lottery sales. If the lottery receipts are more than that expected amount, is that a bonus? No way. It goes to the state education fund, and a corresponding amount of other funds are routed elsewhere. What a bargain.

But, when work is stressful and a single ticket could win $50,000,000 I have been known to buy a ticket.

Cheers - Pete

Subject: RE: BS: Slap me if I read the news
From: Uncle_DaveO
Date: 14 May 03 - 04:13 PM

State Lottery (n.) A tax on the mathematically impaired.

Dave Oesterreich

Subject: RE: BS: Slap me if I read the news
From: Mudlark
Date: 14 May 03 - 05:53 PM

I remember the hype years ago in California, lotteries finally were accepted because all profit would go to the education system, thereby insuring kids great schooling forever more. Now, years later, lotteries going great guns and teachers are being laid off right and left, schools closing down, curriculum reduced to the reading, riting, rithmatic...no more art or music appreciation, no electives, etc. even tho there are more and more kids. I've yet to buy a ticket but know lots of otherwise sane and intelligent people who do.

Subject: RE: BS: Slap me if I read the news
From: Bill D
Date: 14 May 03 - 06:29 PM

the sad thing is, most lottery money is spent by those who can least afford to lose it.

I have bought an occasional dollar ticket...but I KNOW that spending $20 or more a week is not going to significantly affect my chances. The states DO play fast & loose with some of the profits, and there is the constant threat of corruption in the companies hired to run it.

It IS possible to get some extra aid for schools...etc..in this way, but an increase in graduated taxes woud be saner and fairer.

Subject: RE: BS: Slap me if I read the news
From: Cllr
Date: 14 May 03 - 06:49 PM

" A lottery is a tax on fools." original quote from (Dr) Samuel Johnson
1709-84 British lexicographer, writer, critic and conversationalist. Cllr

Subject: RE: BS: Slap me if I read the news
From: NicoleC
Date: 14 May 03 - 07:00 PM

I don't think that attempts by some (not necessarily here) to label the lottery as a regressive tax or being unfair to the poor are true. It's 100% voluntary, unlike sales taxes, for example, which are involuntary and truly regressive. It's like adding $3 to your taxes for the Presidential campaign fund on your tax form -- you do it because you want to, not because you have to.

It sends the message that if you are poor, you have to be protected from spending your money as you see fit. We won't protect you from outrageous health insurance premiums or the inability to find affordable housing in a neighborhood safe to raise a child or the skyrocketing costs of higher education, but, by God, we'd better protect you from spending $1 on a lottery ticket while you are buying that $4.50 pack of addiction that we won't help you kick the habit from.

Yes, desperate and poor people gamble. So do middle class and rich people, except we call them "investments."

I agree that in most (all?) places, lotteries don't truly help education or whichever fund they are supposed to aid, because politicians raid the regular budget in exchange for the money the lottery is expected to bring in. Underfunding a school system in the expectation that gambling winnings will make up the difference is NOT what voters who have passed lottery referendums to support education really had in mind, sez I.

It is, simply, a revenue generator for the state. All else is whitewash.

Subject: RE: BS: Slap me if I read the news
From: artbrooks
Date: 14 May 03 - 08:21 PM

New Mexico says that it is for college scholarships. About 1/4 (100% of the profit) actually goes for that and 1/2 for prizes. Here is the actual breakdown.

Subject: RE: BS: Slap me if I read the news
From: Stilly River Sage
Date: 15 May 03 - 01:18 AM

A friend sent me this joke yesterday:

A woman gets home, screeches her car into the driveway, runs into the house, slams the door and shouts at the top of her lungs, "Honey, pack your bags. I won the lottery!"

The husband says, 'Oh my God! What should I pack, beach stuff or mountain stuff?"

"Doesn't matter," she says.

"Just get the hell out."

SRS

Subject: RE: BS: Slap me if I read the news
From: Bee-dubya-ell
Date: 15 May 03 - 02:14 AM

I don't care who spends how much money on lottery tickets. If they're dumb enough to do it, let 'em. Just don't let 'em do it while I'm standing in line at the convenience store to pay for a coffee refill!

Bruce

Subject: RE: BS: Slap me if I read the news
From: katlaughing
Date: 15 May 03 - 07:19 AM

Well, my daughter's father-in-law was one of those dummies who won and he's done a good job, imo, of wisely investing and sharing his good fortune. I am sure his family is glad that he was so stupid.

Subject: RE: BS: Slap me if I read the news
From: Gareth
Date: 15 May 03 - 07:23 AM

A ticket buys you dreams for an hour or two - But thats all !

Gareth

Subject: RE: BS: Slap me if I read the news
From: catspaw49
Date: 15 May 03 - 07:33 AM

I figure I have the same chances of winning whether I play or not.

Spaw

Subject: RE: BS: Slap me if I read the news
From: GUEST,kingbrilliant
Date: 15 May 03 - 07:38 AM

I've said it before but......
King was buying a lottery ticket each week. I scathed!
"You fool!" I said "We've got more chance of being left millions by an unknown relative".
"But we haven't got any unknown relatives" he replied.

Point proven re foolishness of King......

Subject: RE: BS: Slap me if I read the news
From: Hollowfox
Date: 15 May 03 - 12:39 PM

I have a fool-and-idiot proof method for winning the lottery. *But* you have to follow the method completely. First, get a cigar box or similar container. Choose your lottery number. Put your dollar (or however much) in the container. When the winning number is announced, see if you got the number. If you did, take the money out of the container. If you did not, leave the money in the box. Repeat as often as wou want. Since the odds of getting a three digit number are between 400 and 600 to one, you'll probably have a nice little prize when you win. But you have to leave the money in the box when you don't.

Subject: RE: BS: Slap me if I read the news
From: Marion
Date: 15 May 03 - 02:29 PM

Playing devil's advocate for a moment:

I think it's reasonable to buy lottery tickets if you think of them as a form of entertainment rather than as a source of revenue. Buying them gives you a feeling of suspense, some fun imagining what you'd do if you win, and the excitement of waiting for the numbers to read. After all, people pay money to see movies or watch games, in order to experience the safe thrill of suspense and excitement.

Marion

Subject: RE: BS: Slap me if I read the news
From: Bagpuss
Date: 16 May 03 - 05:56 AM

I win £2 on the lottery every week without fail. I pick numbers for the two weekly draws, and then don't buy the tickets. I have never even lost a tenner by getting 3 numbers correct, so I'm doing well so far. I'm thinking of upping the stakes and and not buying 10 tickets a week. I'll be rich in no time.

Bagpuss