The lottery has legs these days. It seems to me it’s becoming something of a populist issue

[barryqwalsh]

In the past I’ve tried to explain that the issue brought the unlikely bedfellows of the religious lobby and the casino lobby together against it. But that no longer seems to be the case. Casinos no longer appear all that concerned about it (a top state casino exec recently told me as much). I’m sure religious interests aren’t thrilled by it, but they haven’t appeared to be up in arms at its mere mention as in the past. I’m guessing 25 years of legalized casino gambling and surrounding states selling them has taken some of the stank off a Lotto ticket.


http://www.clarionledger.com/story/...1/pender-column-legislature-lottery/99830932/

 

[barryqwalsh]

United Kingdom National Lottery players have now raised over £35 billion for Good Causes since the lottery’s launch in 1994. The total has been reached after Camelot delivered another record-breaking year for The National Lottery in 2015/16, with impressive digital growth driving annual sales to an all-time high of £7,595 million, an increase of £317 million on the previous year.

 

[Jimmy_Chitwood]

In the past I’ve tried to explain that the issue brought the unlikely bedfellows of the religious lobby and the casino lobby together against it. But that no longer seems to be the case. Casinos no longer appear all that concerned about it (a top state casino exec recently told me as much). I’m sure religious interests aren’t thrilled by it, but they haven’t appeared to be up in arms at its mere mention as in the past. I’m guessing 25 years of legalized casino gambling and surrounding states selling them has taken some of the stank off a Lotto ticket.


Mississippi lottery has legs

The lottery is a tax on being stupid and not understanding math.

 

[barryqwalsh]

If it is a tax, many people are already paying it, but to other states. Why let the perfect be the enemy of the good?

 

[barryqwalsh]

Must-win £25m National Lottery jackpot means you're six times more likely to secure the top prize




The “must win” rule is triggered when the prize fund reaches £22 million, and slashes the odds of taking home a life-changing prize from one in 45 million to one in 7.5 million.




Must-win £25m National Lottery jackpot means you're six times more likely to secure the top prize

 

[Mr Natural]

You got a better chance of being struck by lightning

 

[Supposn]

... [Link to] Mississippi lottery has legs

The lottery is a tax on being stupid and not understanding math.

Transcrpt from:
IRS’s income averaging provisions are a superior tax policy.
/////////////////////////////////////////////////////
The lottery has legs these days. It seems to me it’s becoming something of a populist issue

Jimmy_Chitwood, 18May2017 posted: “The lottery is a tax on being stupid and not understanding math”.

My response is, I agree that lotteries are a mathematically unjustified. But beyond the necessities of survival, people need some hope for pleasure and joy. Lotteries serve a desirable purpose.

I argue that the reduces tax rates for long-term capital gains incomes are net unjustified reductions of our nation’s tax revenues. Furthermore, I argue fully restoring the “income tax averaging” provisions of our federal tax regulations would better serve our nation’s social and economic well-being.

The deep tax reductions granted for Long-term capital gains incomes were meant to reduce the additional taxes upon such incomes due to progressive tax rates. Those regulations disregard the erratic or regularity of the individual taxpayer’s annual incomes and is only applicable to that single characteristic of investment incomes.

The consequences of long term capital gain incomes’ deep tax reductions are unjustified reductions of our government’s tax revenues.

The tax reductions that continue to be granted for boons of agricultural and fisheries’ incomes that are annually erratic, were also reduce the additional taxes upon such incomes due to progressive tax rates is not applicable to those with regular, rather than erratic annual incomes. They're applicable to investment incomes and little else.
(I.E. “Income averaging” tax reductions are not applicable for taxpayers that enjoy regularly high annual incomes).

It seems to me that our tax policy regarding the wealthier taxpayers that generally benefit from our long-term capital gains policies rather that retaining or expanding upon our previous “income averaging” policy reflects a “Scoogieness”, a “let them eat cake” attitude of our tax regulations that’s undesirable and of no significant economic benefit to our nation.

Respectfully, Supposn

 

[Jimmy_Chitwood]

... [Link to] Mississippi lottery has legs

The lottery is a tax on being stupid and not understanding math.

My response is, I agree that lotteries are a mathematically unjustified. But beyond the necessities of survival, people need some hope for pleasure and joy. Lotteries serve a desirable purpose.



Respectfully, Supposn

Get a bookie and get a better rate of return.

I did not read the rest of the unrelated material.

However, I hope you understand that investments (unlike income) carry the risk of a partial or a total loss.

Increasing taxes on investment returns is a disincentive for investments.

 

[Supposn]

... [Link to] Mississippi lottery has legs

The lottery is a tax on being stupid and not understanding math.

My response is, I agree that lotteries are a mathematically unjustified. But beyond the necessities of survival, people need some hope for pleasure and joy. Lotteries serve a desirable purpose.

Respectfully, Supposn

Get a bookie and get a better rate of return.
I did not read the rest of the unrelated material.
However, I hope you understand that investments (unlike income) carry the risk of a partial or a total loss.
Increasing taxes on investment returns is a disincentive for investments.

Jimmy_Chitwood, you contend those who regularly strive and reinvest in their own enterprises are of lesser economic benefit to our nation? If we re-instated and possibly expanded of our income tax averaging tax regulations, there’d be no great investment risk takers functioning within are nations’ commerce?

Oh, sorry my error; you wrote “I did not read the rest of the unrelated material”.

As you proclaim, you have no idea if what you’re referring to is or is not related to this thread or if this thread is related to another thread.
You’re proud of what you deliberately refuse to read? I may be wrong, but I don’t fear reading and considering what others, even what Jimmy_ Chitwood wrote and I might otherwise be unaware of.

Respectfully, Supposn

 

[Jimmy_Chitwood]

... [Link to] Mississippi lottery has legs

The lottery is a tax on being stupid and not understanding math.

My response is, I agree that lotteries are a mathematically unjustified. But beyond the necessities of survival, people need some hope for pleasure and joy. Lotteries serve a desirable purpose.

Respectfully, Supposn

Get a bookie and get a better rate of return.
I did not read the rest of the unrelated material.
However, I hope you understand that investments (unlike income) carry the risk of a partial or a total loss.
Increasing taxes on investment returns is a disincentive for investments.

Jimmy_Chitwood, you contend those who regularly strive and reinvest in their own enterprises are of lesser economic benefit to our nation? If we re-instated and possibly expanded of our income tax averaging tax regulations, there’d be no great investment risk takers functioning within are nations’ commerce?

Oh, sorry my error; you wrote “I did not read the rest of the unrelated material”.

As you proclaim, you have no idea if what you’re referring to is or is not related to this thread or if this thread is related to another thread.
You’re proud of what you deliberately refuse to read? I may be wrong, but I don’t fear reading and considering what others, even what Jimmy_ Chitwood wrote and I might otherwise be unaware of.

Respectfully, Supposn

okay I read it now.

 

[Supposn]

Lotteries provide hope for the otherwise hopeless.

Persons’ actual or their perceived poorer circumstances, somewhat due to their own faults and/or conditions beyond their own control, people may surrender to hopelessness. The question of those persons’ faults or non-faults, the justifications of their despairs, the probability of their circumstances ever being significantly improved are do not negate those persons current states depression, (i.e. hopelessness).

Lotteries provide hope for the otherwise hopeless and somewhat increase government tax revenues without increasing taxes. That’s of some net social and economic benefit.

Respectfully, Supposn