How should we think about Powerball?
- Harmless indulgence?
- Best option for retirement?
- Self destruction 2 bucks at a time?
- At least it helps the schools?
- Preys on the poor?
Answers:
- No – Why Winning the Powerball Will Make You Broke and Miserable.
- No – Voluntary 38% tax on the winners vs. long term investment gains
- Yes – See Death, Poverty, Misery, and Taxes.
- No – States with gambling “funding” education spend LESS budget on education.
- Yes – For the poor, gambling is a 5% voluntary tax. Add that to the 14% of income that the poor spend on tobacco, and you’re left wondering why the poor should support the rest of us.
