Not like anyone around these parts is surprised any. The "columnist" yanked the info straight out of Wikipedia, but still. More
I read an article recently (sorry no link) that showed how much of a percentage from the lottery truely goes into the schools, and what goes elsewhere. Only three states (among them my home state of WV thankfully) actually use the money in the school system. In a handful, over 80% went into the pockets of the people running it. Most used it legitimately, but not on the schools as was the idea.
I use to work in a Deli and scratch-offs are one of the biggest state run scams going, the odds to win are so against you but people are addicted to them and that's what the state banks on to fill their coffers.
this is the problem texas had. They started the lottery to help the schools. Before you knew it most wasn't going to schools.
With scratchoff, the odds are pre calculated and winners "pre selected". Gains for the house are still finite however. With the lottery, chances of winning are just impossibly low. Both are scams, but worth the lottery there is no limit to the amount the house can fleece from likely already impoverished communities.
I wholeheartedly believe that, there is always one store that has the big winners, and TONS of them, when I worked in that deli we would occasionally would sell a $100 winning scratch off while this one store - a Krauzers - would get $5,000, $10,000, $50,000 winners....consistently.
They learned that by making it harder to win it tends to rollover and drivethe pots higher which generates more revenue. i generally refuse to playout of principle. Think about this: they take 50% off the top and then after you win they take close to 50% more. For every dollar played they take 75cents of it.
What boggles me is the fact the State makes $$$ on the front, all of the losers, and back end in the form of a 40% or tax on large winnings.
What really gets my goat is when im waiting in line go pay for my morning coffee and some dingleberry is holdi g me fro going to work to earn some money because he is holding everyone up sl he can donate his money to the state in the form of scratch offs.
If the revenue is spent properly, this is all wonderful. The lottery is essentially people volunteering to be taxed, and just about every state needs all the revenue that they can get. The issue, as stated, is corruption of course. And since its rigged by those in power, its hard to change it.
Disagree, for my pov that is merely coddling the State for dirty dealing. Put it this way, can the losers on the scratch offs use them as tax write offs? Prolly not Yet the minute winners are heavily taxed
Actually in NJ you can I believe on the winnings, people use to take old tickets that were tossed out so they could write them off on their winning tickets. EDIT: http://taxation.lawyers.com/income-tax/tax-deduction-for-gambling-or-wagering-losses.html
Which is why I say, eliminate all income taxes under 100,000 and just create a bunch of Federal lotteries.
Not buying a house that will financially limit oneself. That's why its such a good racket. You are essentially forced to pay tens of thousands of dollars to banks if you want to own a home, while the government promotes it.
Not too mention the system itself promotes inflated values. A positive feedback loop of generational indebtedness.