NOTE: [making up number amounts for example]
Let's say that education before the lottery got 10-milion dollars.
Lottery came advertising that it provided money for education, but was a lie, being put into the general fund.
Schools still got 10-million dollars. Next, pass law that lottery money must go to schools.
Lottery takes in 5-million in profit.
Schools should now get 15-million, right?
Wrong! State reduces school funding by 5-million and then adds the 5-million lottery money to add up to 10-million dollars.
Hey, they can state that all the lottery profits go to education.
Anything the government runs always gets corrupted. Governments don't have to run properly and above board or go out of business like the private sector does.
I heard it said (or read it somewhere) that is all of the FICA withholding taxes had been put into an interest savings account [seperate form general funds] that Social Security and Medicare would not be nearly as bad off as it is...even though Galveston, Texas has an even better proven system when they opted out. It's a great story that I've kept and bring out often to friends and my Senators and Representative.
Yes, but if they did that Social Security wouldn't be able to pay out to people who didn't pay in.
I drove down to Galveston this last weekend...
Have you been down there in the last month or so???
Its in pretty sad shape...Not sure if their fabulous tax system is going to help much in that regard...
But hey, anything can happen I suppose...