Lottery: Is It Really A Stupid Tax?

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25 Responses

  1. MoneyCone says:

    The thrill of anticipation is a powerful emotion. Lottery agencies know this and ‘play’ us nicely!

    But hey, what’s a dollar for my beloved state, California!

  2. Melissa says:

    This reads as a movie script. Out of change, buying a lottery ticket and getting 176 million dollars.

  3. If only other people saw the lottery in the same way as you do. Unfortunately (and I say this as someone who used to work for a lottery operator) there are so so so many people who buy lottery tickets religiously, believe wholeheartedly that they are going to win and see a lottery jackpot as the only means of improving their lives. Very sad indeed.

    Congratulations on your mega $2 win!

    • Buck Inspire says:

      Thanks! I’ve seen news reports of people lining up religiously as the jackpot grows. Thanks for the insider scoop. It is sad, but perhaps their situations are so bleak they need a glimmer of hope just to make it through the day.

  4. krantcents says:

    Not only is it a tax, but it is taxing the poor! Remember all the winners who were unemployed and they bought the ticket with some of the last money. I remember when they started the lottery and how it would be good for education. I haven’t seen any of those riches in my school system.

    • Buck Inspire says:

      You’re right. It is taxing the poor. Most of these people can’t think of any other way to better their situation. I wish there is a way to spread the jackpot. Not sure how. It would be a win-win because many big mega jackpot winners end up blowing it all. If they had smaller prizes to more winners, hopefully the money will be used better. Perhaps the lottery department needs to adjust the school system percentage of proceeds as well.

  5. Yes, it is a tax on the poor. It is shameful that our society allows this but I suppose for one person out of 176 million, it works out OK for a little while.

    • Buck Inspire says:

      Shameful, but it’s helping the education system right? I said this earlier, but I wish there was a way to spread the winnings a little. Rather than change one person’s life, why not change a few 100 or 1000? Better use of funds right?

  6. Stephan Hilson says:

    I am not familiar with tax related to lottery. But it is good to take the risk of the odds of winning the jackpot in the lottery. It is also good to use the money for investment instead of buying a lottery ticket for me. Maybe I should do that if I have enough savings and if I already stopped buying lottery tickets in the near future. Thanks for the interesting point of view.

  7. I agree that there are a lot of better ways to spend your one dollar that will be far better return. In the UK about half of the money goes to good causes of some description and most of the people that play come from poorer backgrounds. I wouldn’t be so against it, but the causes that the money goes to tend to be of most benefit to the middle class. It seems that taking money from the poor to pay for the pursuits they don’t use is a bit unfair.

    Congratulations on your win

  8. I think if you take care of the bills and saving first, then it’s ok to put a buck into the lotto. It’s harmless fun and it’s a lot cheaper than a movie! ;)

  9. I am not a typical lotto player myself. The odds of winning millions is next to nothing as you pointed out. Due to this, I consider money for lotto tickets to be part of entertainment expense. :)

  10. Funancials says:

    I’m with the others seeing it as a tax on the po’. It’s so tempting to think “what if I win,” but I go with odds rather than emotions.

    • Buck Inspire says:

      Tempting, but I think we can keep it in control. Some po’ folks see this as their only way out. I don’t think anyone would go for this, but why don’t change the prize to financial education. Not as sexy, but more beneficial in the long run!

  11. 101 Centavos says:

    Not just the lottery, but gambling and casinos are a tax on the stupid.

  1. August 26, 2011

    […] Lottery: Is It Really A Stupid Tax? @ Buck […]

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