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Offlinedjamor
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Registered: 09/16/02
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Powerball Lottery; good or bad?
    #1176941 - 12/29/02 10:33 AM (14 years, 11 months ago)

Some say the lottery is bad because it concentrates wealth into the hands of the few.
Others say its good for obvious reasons; 'I can get rich!' and lotto money funds many state projects. What do you people think?


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OfflineLearyfan
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Re: Powerball Lottery; good or bad? [Re: djamor]
    #1176945 - 12/29/02 10:35 AM (14 years, 11 months ago)

I've never thought it was a bad thing. There are other areas where wealth could be distributed to the masses.



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Invisiblecarbonhoots
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Registered: 09/11/01
Posts: 1,351
Loc: BC Canada
Re: Powerball Lottery; good or bad? [Re: djamor]
    #1176982 - 12/29/02 10:53 AM (14 years, 11 months ago)

While I oppose wealth concentration, I don't think this is a bad thing. It's not bad the way some businesses are bad by using slaves to concentrate their weath.

Does someone need to win 300 mil? No, I think 300 people winning a mil would be cooler.


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  -I'd rather have a frontal lobotomy than a bottle in front of me

CANADIAN CENTER FOR POLICY ALTERNATIVES


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Offlinehongomon
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Re: Powerball Lottery; good or bad? [Re: djamor]
    #1177073 - 12/29/02 11:47 AM (14 years, 11 months ago)

We can only hope that the funds generated are used properly.  The guy who just won 300 million, for example, was taxed over half of that.  Where does that 150+million go?  I mean,  really  go.

Lotteries also help by teaching us an important lesson about life and how it works.  :tongue: 


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Invisibleluvdemshrooms
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Registered: 11/29/01
Posts: 34,234
Loc: Lost In Space
Re: Powerball Lottery; good or bad? [Re: hongomon]
    #1177092 - 12/29/02 11:57 AM (14 years, 11 months ago)

Quote:

The guy who just won 300 million, for example, was taxed over half of that.



Not correct. Using rounded numbers....
300 million was the annuity prize. Paid out over 20 or 30 years.
180 million was the cash option. He chose this option.
He paid about 85 million in taxes and then gave 10% to the Catholic church.

Still way too much taxes but a far cry from 150 million.


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You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for that my dear friend is the beginning of the end of any nation. You cannot multiply wealth by dividing it. ~ Adrian Rogers


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Offlinehongomon
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Re: Powerball Lottery; good or bad? [Re: luvdemshrooms]
    #1177260 - 12/29/02 01:08 PM (14 years, 11 months ago)

Thanks for the correction. I don't think it was too much taxes at all. The redeeming virtue of lotteries is the funds they generate. So he wound up with 95 mil. Ouch?


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Invisibleluvdemshrooms
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Re: Powerball Lottery; good or bad? [Re: hongomon]
    #1177279 - 12/29/02 01:13 PM (14 years, 11 months ago)

Quote:

I don't think it was too much taxes at all



Why, oh why, am I not surprised?


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You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for that my dear friend is the beginning of the end of any nation. You cannot multiply wealth by dividing it. ~ Adrian Rogers


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Offlinehongomon
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Re: Powerball Lottery; good or bad? [Re: luvdemshrooms]
    #1177368 - 12/29/02 01:52 PM (14 years, 11 months ago)

I'm not all for taxes--in fact I've managed to pay none for the past five years by living out of the country. I'm boycotting the war effort.

But here, we're talking about taxation of gambling profits--lotteries in particular. Overall, I don't like the idea of lotteries, but if we're going to have them, then hell yeah, lets tax the hell out of them to benefit education.


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OfflinePhluck
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Re: Powerball Lottery; good or bad? [Re: djamor]
    #1178032 - 12/29/02 07:39 PM (14 years, 11 months ago)

The lottery is kind of cruel. It preys on the desperate and weak minded. I don't think it should be illegal though, it's fair, and it generates a good deal of revenue for the government.


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"I have no valid complaint against hustlers. No rational bitch. But the act of selling is repulsive to me. I harbor a secret urge to whack a salesman in the face, crack his teeth and put red bumps around his eyes." -Hunter S Thompson
http://phluck.is-after.us


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