Aside from that, ponder these facts about the latest powerball hoopla [figures are rough...but it serves the point]:
All Players All Income 787.00 Million
Avg Income Tax [20%] -157.50
State Lottery Income 630.00
State Lottery Gross Profit -315.00
State Lottery Penalty -145.00
State/Fed Tax 33.5% -57.00
Winners proceed 113.00
Winners proceed as % %14.30
Government proceeds 674.00 Million
In my opinion the biggest story about the latest Lotto craze was untold. From sweat to ticket, Americans shelled out approximatley 787 Million dollars into this ponzi scheme. The government kept 674 Million by virtue of their monopoly.
And to add insult to injury, If the winner was to die, the governement would take yet another 56.5 Million dollars from the family.
I don't know about you guys, but I really think that this country is screwed if we cant see the injustice in our present governemnt...pretty sad...
Which essentially says that its a whole lot worse than I thought if you figure in the tax portion of the game.