Sure wager is lottery exploitation of poor

Minneapolis Star Tribune ^ | 12/31/02 | Paul Campos

[rhema]

Last week's record Powerball prize generated a windfall of publicity for that multi-state lottery. Several cable news channels gave live coverage to the press conference announcing that one lucky ticket buyer had won a nine-figure jackpot, and in subsequent days the national media dedicated extensive coverage to the story.

[aruanan]

I want to see a cartoon of a Lotto winner with a big cardboard check saying, "I want to thank all the little people."

The other night I was getting a video and passed a group of those little people standing around a scratch-off vending machine chatting about instant win strategy. "Yeah," this one woman said referring to one of the six different varieties of exactly the same thing. "I can just never win w' dis one."

[mewzilla]

Who's dumber? The person who bought a lottery ticket or one who invested in Enron? My money's on the latter. And if you're talking morality, if gambling's immoral, so's investing. And for the same reasons.

[alfa6]

Historically money invested in the Stock Market has a 10% to 15% return over the long run. The secret is to not put all you money into one area and to hold a diversified portfolio. OH and have about thirty years to wait.

Money put into lottery tickets is lost for good.

Having said all that I too will by the occasional lottery ticket. I figure it's better than buying another bottle of soda pop and I might just get lucky, but I ain't holding my breath.

Happy New Year Regards

alfa6 ;>}

[xzins]

State lotteries, like state cigarette taxes, fall on the portion of the populace that is least able to afford the burden

I do disagree with this article about lotteries.

1. Gambling is going to happen. It's impossible to regulate because it's too easy to create.

2. States shouldn't be in the business of running businesses....even post offices.

3. Legalize gambling and collect sales taxes.

4. I don't mind the "poor" paying taxes. It's their responsibility to do so, and it robs them of their voice if they get carried around by the rest of us. In fact, I'd argue that if someone isn't paying a fair share percentage of the tax burden, then they shouldn't be allowed to vote. (Walt Williams was arguing for dividing the dollars needed by the number of citizens as fair share. Others argue for ownership of property. I argue for fair percentage share of tax burden as the basis for the right to vote.)

[Doctor Raoul]

In effect, state lotteries function as a kind of stupidity tax.

And as Neal Boortz says, "And the ticket is your receipt."

[mewzilla]

I'm not too worried. We didn't and don't have most of our money tied up in our 401k. That being said, at least the state's honest about a ticket buyer's chances of winning. Which is more than I can say for Wall Street.

[alfa6]

Some of those folks who invested in Enron made quite a bit of money though.

On A serious note Enron is a poor example of investing. The whole Enron gig was a scam and should not be used to tar and feather the other 95% or so of companies that operate in a respectable and ethical mannner.

Regards

alfa6 ;>}

[11th Earl of Mar]

I am opposed to lotteries on moral grounds. But I do like the fact that the lottery is the only voluntary tax we have. If people are stupid enough to participate, why not let them?

But I will also bet that if another millionaire wins the lottery, the government will soon "means test" the winnings. Which means that if you are already in the upper income bracket and do not "need" the money, you will pay most of it back in taxes. I would only be 'fair.'

[spectre]

No bingo in Arkansas. Not even in the Catholic Church. It's been outlawed, considered "gambling". They raid Bingo parlors here!

They have to go to Memphis to bet on the dogs.

We do have a Horse Track in Hot Springs, and it's OK to bet on the ponies there, but no other gambling in Arkansas is allowed...go figure.

Most Arkansans cross the State Line, about 90 minutes from Little Rock to gamble in Tunica, Mississippi. Lots of Casino's being built from the losers who hang out there.

A State Lottery would do wonders for Arkansas. People are going to gamble anyway, so why should Mississippi profit from all our gambling money?

sw

[mewzilla]

Ah, but it wasn't just Enron, was it it? And not all unethical financial practices are illegal, are they?

[RKV]

If I was Winston Smith I would rewrite that part of history at the Ministry of Truth. Then I would be good again, not ungood.

[SamAdams76]

Once the state gets into the lottery business, it continues to expand year after year. I remember when the Massachusetts Lottery first started up in the early 1970s. At the time, the state promised that it would only be one drawing a week. Of course, this turned into two drawings a week. Then three. Then there was a weekly "Megabucks" drawing and the "Daily Number." Then came Keno. First, it was only supposed to be in bars. Then it slowly made its way into restaurants and convenience stores and even gas stations.

Then the biggest plague of all. Scratch tickets. Behind the counter at virtually every convenience store in this state are rolls and rolls of brightly colored "scratch tickets". You got your $1 games and your $2 games and your $5 games. Now they even have $10 games. So now you have these desperate people getting a gallon of milk at the 7-11 and asking to get their chance in scratch tickets.

It got so bad (the scratching of tickets) that many stores have large signs saying NO SCRATCHING OF TICKETS ON COUNTER because there was so much scratch ticket residue on the counters and floors that had to be constantly swept up. So now the people get their tickets and they can be seen in their cars furiously scratching the tickets on the dashboards and then dashing back into the store to cash in their "free ticket" and $5 prices (cashed in as more tickets). Once the tickets run out (as they always do), they speed away from the parking lot in disgust. The wastebaskets outside all the stores around here are literally crammed with losing scratch tickets.

Massachusetts also promised that a state lottery would "lessen the tax burden" for everybody and provide more money to the schools. Well the state has yet to lower their tax rates despite more than 30 years of raking in billions upon billions of dollars of cash money through the Lottery.

[leadpenny]

But I do like the fact that the lottery is the only voluntary tax we have.

Tobacco and Alcohol? Vanity and Theme License Plates?

[SamAdams76]

That's true if you know how to manage your money. But people who can manage their money generally don't play the lottery anyhow. The typical lottery winner is better off taking the money in installments because they can fritter it all away and still get a check the next year.

[Tijeras_Slim]

You're all missing the point.
If something is unfair to the poor the rich must subsidize it.
Those below the poverty line must recieve free lottery tickets.
We can even put a voter registration form on the back.

Do I really need a < /sarcasm>?

[SamAdams76]

To me, it's a matter of trust. I haven't seen any evidence of states rigging their lotteries.

Gambling is always rigged in favor of the house. The state lottery is "rigged" so that the state keeps 50% of the money. Compare that to privately owned casinos (who must compete with others) who keep only about 10% of the money being wagered.

[Wonder Warthog]

"I just don't think the government's role is to be that of a "bookie.""

At the STATE level, the government's role is whatever the people decide it is, with certain civil liberties limitations. The people can certainly decide that "acting as bookie" can be a role of state government--all they have to do is modify their state Constitution to allow it. You and I may not like it, but thems the breaks.

[RKV]

I don't believe in managing other people's money for them. They make choices and live with consequences and so do I. Its tough love to let people make mistakes, but that is how they learn. The more we insulate people from the consequences of their own actions, the more we create dependency in them. Of course you treat a 2 year old different than an adult, but no one here is talking about selling lottery tickets to children. I don't participate in the lottery and I don't even advocate it after our experience here in the PRK, but if others choose to do it - let them!

[BillyRubin]

They have to go to Memphis to bet on the dogs
____________________________________________________________

No , they have to go to West Memphis Arkansas to bet on the dogs