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Started By
Message
re: The lotto is nothing more than a poor man tax
Posted on 8/23/17 at 8:54 am to ctiger69
Posted on 8/23/17 at 8:54 am to ctiger69
quote:
The lotto is nothing more than a poor man tax
quote:
False
It's a tax on people who can't do math.
ETA: the word tax is a euphemism in this case.
This post was edited on 8/23/17 at 9:01 am
1
Posted on 8/23/17 at 9:07 am to mdomingue
quote:
It's a tax on people who can't do math.
What about when the winnings gets so large that it's + EV to play the lottery?
Posted on 8/23/17 at 9:07 am to ctiger69
Any nominal lotto prize (say less than $500K net) is not likely to make a person "unpoor". Money spent on such, including scratch offs, are pretty much a poor man cost.
Taxes aren't voluntary, some fees are.
Taxes aren't voluntary, some fees are.
Posted on 8/23/17 at 9:08 am to msu202020
quote:
What about when the winnings gets so large that it's + EV to play the lottery?
Go ahead, buy every possible combo.
Then pray and pray and pray that you don't have to split the jackpot with anyone.
Posted on 8/23/17 at 9:10 am to LSUBoo
quote:
Go ahead, buy every possible combo.
Then pray and pray and pray that you don't have to split the jackpot with anyone.
You don't have to buy every possible combo for the lottery to be + EV.
Posted on 8/23/17 at 9:11 am to msu202020
I guess not with all the lesser winning combos.
Regardless, no one with that sort of cash is even remotely willing to take the risk of splitting the main jackpot.
Regardless, no one with that sort of cash is even remotely willing to take the risk of splitting the main jackpot.
Posted on 8/23/17 at 9:12 am to LSUBoo
quote:
Regardless, no one with that sort of cash is even remotely willing to take the risk of splitting the main jackpot.
No one with that sorta cash is even playing the lottery.
Posted on 8/23/17 at 9:17 am to LongueCarabine
quote:Depends on how you look at it. Sales tax, liquor taxes, cigarette taxes, property tax, etc. are somewhat voluntary in the sense that you can avoid or minimize the tax depending on your consumption. A similar argument could be made regarding the lottery.
Taxes aren't voluntary.
This post was edited on 8/23/17 at 9:19 am
Posted on 8/23/17 at 9:22 am to LSUBoo
quote:
Go ahead, buy every possible combo.
Then pray and pray and pray that you don't have to split the jackpot with anyone.
At $2 /ticket, you'd lose money anyway.
Posted on 8/23/17 at 9:23 am to ctiger69
It's a nice dream for a couple of days.
I bet I could follow you around for a week and find a lot of shite you don't "need" to be spending money on, baw.
I bet I could follow you around for a week and find a lot of shite you don't "need" to be spending money on, baw.
Posted on 8/23/17 at 9:27 am to ctiger69
1. I know the odds of winning are astronomical.
2. I know when I buy 5 tickets I'm not really increasing my chances of winning at all.
3. Excited to turn my $10 into 700 million!
2. I know when I buy 5 tickets I'm not really increasing my chances of winning at all.
3. Excited to turn my $10 into 700 million!
Posted on 8/23/17 at 9:35 am to Displaced
quote:
At $2 /ticket, you'd lose money anyway.
That was a hypothetical, not applicable to the current jackpot.
Still, would be a terrible idea.
Posted on 8/23/17 at 9:44 am to WizardSleeve
quote:
It's a terrible, evil tax that really is mostly applied to poor people.
It's called self fricking control and your explanation is a great example of how instead of making America stronger and focusing on a strong economy, we instead have shifted our focus to the guy who doesn't want to work and how we can compensate them. Lotto players make the choice to walk in the store and purchase the tickets. Tax payers are forced to fork over money.
Posted on 8/23/17 at 9:52 am to Ace Midnight
quote:
It's a nice dream for a couple of days.
I bet I could follow you around for a week and find a lot of shite you don't "need" to be spending money on, baw.
This. You pay a "volunteer tax" on that $5 Starbucks coffee, $10 Movie Popcorn & Soda , Cigarettes, Alcohol,etc......
The $75 billion dollar plus lotto industry could not flourish if the customer base was poor people. Percentage of income wise the poor spend more ,but Middle Class people sustain the Lottery.
Posted on 8/23/17 at 9:54 am to GaryMyMan
quote:
've always found big lottery jackpots fascinating, not just what I'd do with the winnings, but how badly it has fricked up dumb winners' lives, especially Jack Whittaker. I could read those stories all day.
Crazy that Whitaker was a very good businessman worth nearly $20 million dollars before he even won the Powerball.
Posted on 8/23/17 at 9:57 am to lsunurse
quote:
Sooooo because my dad gets a social security check for himself(cause he is 69) and my mentally challenged little brother(cause of his disability)....he shouldn't be allowed to spend $2 on a lottery ticket from time to time??
You pay in to social security, that is your money. And someone on disability would be different as well.
I'm speaking more of the majority, which are the lazy who won't contribute to society.
Posted on 8/23/17 at 10:00 am to ctiger69
I prefer Neal Boortz' take: gambling is a tax on the stupid 
Posted on 8/23/17 at 10:01 am to kywildcatfanone
I bought a few tickets this morning. Who gives a shite. Odds are small, but somebody gotta win, why shouldn't it be me?
I'll be okay financially.
I'll be okay financially.
Posted on 8/23/17 at 10:06 am to msu202020
quote:
It's a tax on people who can't do math.
What about when the winnings gets so large that it's + EV to play the lottery?
How often does that happen and how many people actually win. While, on the one hand, the odds of you winning are infinitely higher than the odds of me winning if you buy a ticket and I don't, on the other hand, the odds of me winning at 0% are only 0.000000342230% lower than the odds of you winning the jackpot for one ticket.
Posted on 8/23/17 at 11:08 am to ctiger69
Someone wrote up an op-ed in the Advocate along these lines back in the 80's. A lottery is a tax on dumb people.
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