Big Lottery “Winnings” (Conservative economics lesson)

The South Carolina Times Examiner ^ | Fall 2005 | Ben Graydon

[2ndDivisionVet]

Last week somebody “won” the mega lottery, worth, per the media, several hundred million dollars. Poor guy. Might as well put a gun to his head.

We know the statistics, that the vast majority of lottery winners are right back in poverty within a couple of years. The reason is the very thing that drove them to buy a lottery ticket to begin with – the idea that the absence of money is the root of their problems and that the presence of money will cure their problems, when in actuality the absence of money in their lives to begin with is not the problem but a symptom of the problem: poverty thinking.

Money is a tool; it is only a tool. It is not a commodity that has any intrinsic value in itself but only in what it can do for you. Granted, it is a rather efficient tool when viewed in terms of getting from point A to point B, but it is neither the only tool nor the only thing necessary to accomplish something. If one is setting out to fill the bath tub for his Saturday night bath, a five-gallon bucket is more efficient than a two-gallon. Copper pipes that run right to the tub are even better! But if the tub itself is full of holes, of what consequence is the relative efficiency of the mechanism of filling it?

People who purchase lottery tickets are looking for golden pipes with which to fill holey bath tubs.

It has been well noted that if all the money in the world were put into a pot and divided up evenly, those who have money now would gain it back in a very short time and those who lack it now would lose it.

[goldstategop]

Money is not going to make any one happy. If you have lots of it, it can be as much of a problem as when you have none to spare.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." -Manuel II Paleologus

[Smokin' Joe]

If you have lots of it, it can be as much of a problem as when you have none to spare.

Yep, and I have tried the latter, still working on trying the former.

As for being happy, no one can 'make' you be happy anyway.

[DB]

"Money is not going to make any one happy."

That's a pretty broad statement.

I'm generally pretty happy, but I'd be happier if I could retire and not worry about where the money was going to come from.

[KoRn]

If you confiscated all of the wealth on the planet and distributed it equally to all people. Within a few years those who were wealthy before it was distributed would be wealthy, and those who were poor would be poor.

[goldstategop]

Money is a means. Our true wealth is what is within us and in our loved ones. We often overlook what really matters and at the end of our lives, no one is going to care the size of our bank account made us great, famous or whatever. Being mortal, we won't be around long enough to enjoy all of our millions.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." -Manuel II Paleologus

[IrishCatholic]

My favorite quote from a movie long forgotten: "Money won't buy you happiness. But you can buy a yacht and sail to it."
Money is a tool that allows you more options than if you don't have money. Frankly, I am trying to make as much as I can. I like options.

[GSlob]

"Poor guy. Might as well put a gun to his head."
Well, I would take my chance with such a difficult situation and would even volunteer for it.
'Money is not going to make any one happy. If you have lots of it, it can be as much of a problem as when you have none to spare. "
Happiness measurement unit is called a dollar. Not for nothing there is an expression "to feel [or to look like] a million dollars".

[Brian Allen]

<< .... Within a few years .... >>

Weeks or months, more likely.

[proud_yank]

If you have lots of it, it can be as much of a problem as when you have none to spare.

I agree with you. I think that there are as many people with lots of money who are as miserable as those with none. I think that the mentality of those who are truly unhappy is the same- 'me, me, me..Where's my next million, or where's my next welfare check.'

[Uncle Ike]

I was born to be Idle Rich -- so far, I've got the "idle" part down pat....

Money may not be the solution, but I'd bet it'll buy me a better class of problems.

[tkathy]

It has been well noted that if all the money in the world were put into a pot and divided up evenly, those who have money now would gain it back in a very short time and those who lack it now would lose it.....

Also, if America's and the West's wealth were put into a pot, and given to third world countries, in a very short time, the third world countries would lose it....

[DeaconRed]

SHOW ME THE MONEY

Then watch me get happy feet, real fast! ! !

[proud_yank]

Frankly, I am trying to make as much as I can. I like options

True, though the best way to earn money in a free-market is to provide a good or service that will continually serve and satisfy your customer. IMO, that is what one needs to focus on to generate income & wealth, and something to take great satisfaction in.

[DemforBush]

I've always considered lotteries to be basically a very clever form of taxation. It's the only time people are willing, even enthusiastic, to give their money to the government.

A crazy impulse to which I've submitted to on occasion myself, sadly. :)

[Mad Dawg]

Money can help you be comfortable while you're unhappy ...

[GOPJ]

Once a person gets past the idea that a State lottery is a tax on the mathematically challenged, there are possibilities. Why not require a social security number to play - and put 2% of the price of the ticket into a fund the fool, ummm, mathematically challenged individual can draw from - say to pay back welfare payments, missed child support, or dump into a retirement plan?

[Lokibob]

Actually, studies in both the UK and the U.S. show that over 95% of the big winners act responsibily with the money, and go many years with increased wealth. Also studies show that of the remaining 5%, their stories will wind up in the MSM.

[GOPJ]

Once a person gets past the idea that a State lottery is a tax on the mathematically challenged, there are possibilities. Why not require a social security number to play - and put 2% of the price of the ticket into a fund for the fool, ummm, for the mathematically challenged individual. He can draw from the pot - say to pay back welfare payments, missed child support, or dump into a retirement plan?

[Mad Dawg]

Not for nothing there is an expression "to feel [or to look like] a million dollars".

Weren't you ever an 8 year old boy? The WHOLE line is:

You looko like a million dollars -- all green and wrinkled.
[then you fall on the floor laughing at your own wit.]

I once preached a sermon on that -- actually it was on Psalm 115, the part about how those who make or believe in idols are like what they worship
(which explains why I worship, oh, say, a combination of Ronald Reagan, Warren Buffet, Thomas Sowell, and Sean Connery? Oh, yeah, and Chuck Norris.And Ahmad Shah Massoud, Socrates, and ....)

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