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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: Craig K who wrote (171)3/24/1999 6:38:00 AM
From: Tom Allinder  Read Replies (2) of 108040
 
"Congress move to enact legislation to curtail daytrading."

"Day traders have turned worlds largest stock markets into high stakes gambling casinos."

What about state lotteries? They were all set up to fund education.
None of them do this. Here in Virginia, lottery proceeds are used to balance the budget. Every day there is another liberal crowing that we need to increase taxes and revenue to improve and modernize the schools.

State lotteries are funded by the poor and middle class. Last night, I was in a convenience store and the lady in front of me bought 3 rag tabloids, 2 bags of Ruffles, 2 big cokes, 2 packs of cigarettes and..... 50... thats right: FIFTY "Big Game" tickets (at $1 each) and 10 instant loser tickets. She plunked down $78 for all this. Then she got in her blue smoke blowing, firing on half the cylinders, POS car and drove back to her trailer to eat her chips, drink her cokes, smoke her cigarettes, play her instant loser tickets and hope that Wednesday night she will finally win "The Big Game" and be able to move uptown.

The state of Virginia has these borderline poverty people to thank for balancing the budget.

A few years ago, I used to have to commute twice weekly between northern Virginia and my home in Virginia Beach. I would always stop at the same store in rural Va to get coffee. On Friday's there was a line out the door to buy lottery tickets. At the beginning of the month you couldn't even get in the place. People had cashed their welfare checks and were in their to buy anywhere from $25 to $150 dollars worth of state lottery tickets.

This hasn't changed. We hear nothing about the govt trying to stop this foul practice and end the lotteries.

Tom
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