Fridays lottery a record half a billion dollars

Discussion in 'Economics' started by peilthetraveler, Mar 28, 2012.

  1. Maverick74

    Maverick74

    How much do you think the average active lottery player spends in his/her lifetime on lottery tickets? 1k? 5k? 25k? It's not a dollar dude. These people spend a fortune and that's why it's often called the harshest tax on the poor, because that is really what it is, a tax. And an expensive one at that.
     
    #31     Mar 28, 2012
  2. Maverick74

    Maverick74

    I guess I should ask the follow up question. How exactly would we be determining who these 400 "winners" are? They are obviously are NOT picking the right numbers. So are you saying we should give one winner who actually DID pick the right numbers 1/400th of the sum and then randomly pick 399 other people who may not even gotten one number right? Why not just screw the lottery and have the state pick 400 random people every week to give money to. LOL. I mean that would be more fair right? Why go through the ruse of making people pick numbers when you are not going to even reward people for picking the right ones. LOL. Do you guys see where this is falling apart?
     
    #32     Mar 28, 2012
  3. lwlee

    lwlee

    For a while I was spending $2 every Sunday buying lottery tickets. Like most Americans, it's inconsequential compared to other vices that they have.

     
    #33     Mar 28, 2012
  4. clacy

    clacy

    I like this Socialist Lotto idea. I think Obama should enact this with or without congressional approval immediately.

    It will work like this.....

    -Use the interstate commerce clause as justification for the act.

    -Force the American people to "purchase" lotto tickets weekly or face a "penalty" (tax).

    -Tickets will cost $5 each for anyone earning less than $50,000/yr.

    -For those that earn more than $50,000/yr, tickets will cost $15/each.

    -For the poor, they will still pay $5, but receive a tax credit to subsidize their weekly purchases.

    -Employers will be required to pay for 2/3's of the lottery tickets for their employers.

    -Each week, every American will win $1.5

    -The government will use the proceeds of each weekly lotto to bolster the IRS so that they lotto may be enforced.

    -Any remaining monies will be used to subsidize "green energy" companies as the President sees fit.

    -If there if is additional proceeds left over, the money will go to planned parenthood for "women's health care".

    -The nickname for the lotto will be "LOTTOBAMA"
     
    #34     Mar 28, 2012
  5. lwlee

    lwlee

    Don't know where you getting these hard-coded numbers from.

    I said that there should be a guaranteed millionaire for every million in the pot. Divvying up by an exact number is silly.

     
    #35     Mar 28, 2012
  6. Brass

    Brass

    You're kidding, right? How about the lottery operators drawing 400 winning numbers? Or 200? Or whatever? It won't change the expected value for the players, but it will give people a better shot at winning. How do you manage to squeeze socialism into every bowl of cereal you eat?
     
    #36     Mar 28, 2012
  7. Maverick74

    Maverick74

    So who is getting these million dollar prizes? On what basis are they winning?
     
    #37     Mar 28, 2012
  8. Maverick74

    Maverick74

    Why not just give people money Gabby? Why even go through the charade of a lottery? Seriously dude. You have no where to go with this.
     
    #38     Mar 28, 2012
  9. The lottery is a negative expectation game. Only fools play negative expectation games.
     
    #39     Mar 28, 2012
  10. Brass

    Brass

    You beat me to it. I was going to post the same thing to you.
     
    #40     Mar 28, 2012