Lottery: A Stupid Man's Tax
Lotteries have the worse odds against winning than any other type of gambling. Sure, lotteries do have the biggest pay outs for small bets, but did you know that most lotteries only pay out thirty cents for every dollar collected?
This is a significantly worse payout than most casinos, slot machines, office pools, race tracks, and even dishonest bookies.
Most lotteries are run by local or national governments to raise revenue for public services, such as schools or roads. Lotteries have unusually low returns of winning, because lotteries are required to have large profits to pay for these public services.
Realistically speaking.. umm.. writing, lotteries sell the hope of winning huge sums of money at an astronomically high odds against winning. Therefore only people, who do not have much money, are more likely to buy lottery tickets for a better life or to pull themselves out of poverty. Thus, the people who need their hard earned money the most are most likely fooled.
This is why I call lotteries a "tax on stupidity".
Lotteries take money from people who have the least amount of money and people who least understand their odds of winning, and redistribute the lottery proceeds to pay for public services just like an optional tax for those who can be fooled. Simple put, the lottery is a stupid manís tax.
In my opinion, governments should not be in the business of deceiving those people who can least afford it. So, I suggest to all the governments of the world to stop your lotteries and collect taxes rationally and fairly.
by Phil B.