Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: ManyMoose who wrote (3592)	2/1/2006 1:09:45 PM
From: Peter Dierks	Respond to of 71588

The big jackpot lottery serves no socially redeeming value. It is purely a regressive form of taxation. It could be argued that the medium win lotteries that return $5k to $50K might have some redeeming value. Many less advantaged people who keep themselves in poverty with behavior such as lottery ticket purchases. For those people, their best chance for accumulating enough to be able to afford a car or a down payment on a house is that payout. For those people it is a form of savings account with punitive interest in the -60% range. If they play enough, they are likely to eventually get the big pot. Thus, it is a form of savings that makes winners' lives somewhat better.