The Lottery: A Tax On The Mathematically Challenged

[Matt Shields]

Yesterday I was driving to check out a house that I just purchased and stopped at QT to get gas and a drink, then noticed a line out the door. I asked if they were giving away free coffee or something but was told everyone was buying Powerball tickets. I watched as people purchased lottery tickets by the dozens. I would guess that most of these people can barely afford rent and food for their children, but throw money away on State sponsored gambling.

The store employees seemed shocked that I didn't want any tickets. Instead, I decided to purchase another investment house with the money I had saved. While I may not get rich overnight my odds are much better.

[Joe Splitrock]

@Matt Shields what I will never understand is why the bigger the jackpot, the more people that come out. It is like if the jackpot is $500K or a million, people are just like, "not enough".  But if it is $20M, then people are like, "now it is worth my dollar". It hits a hundred million and people are lined up down the street.

Hmmm, almost sounds like how a real estate bubble happens. The higher the prices go, the more people that want in.