dimensionallava
DP Veteran
- Joined
- Aug 12, 2015
- Messages
- 6,414
- Reaction score
- 1,524
- Gender
- Undisclosed
- Political Leaning
- Communist
This mania, so generally condemned, has never been properly studied. No one has realized that it is the opium of the poor. Did not the lottery, the mightiest fairy in the world, work up magical hopes? The roll of the roulette wheel that made the gamblers glimpse masses of gold and delights did not last longer than a lightning flash; whereas the lottery spread the magnificent blaze of lightning over five whole days. Where is the social force today that, for forty sous, can make you happy for five days and bestow on you—at least in fancy—all the delights that civilization holds?
Balzac, La Rabouilleuse, 1842
The jackpot in the US Powerball lottery has hit $800 million, since there were no winners in Wednesday’s drawing. In the current round, which began on December 2, over 431 million tickets have been sold, a figure substantially larger than America’s population.
Go into any corner store in America and you will see workers of every age and race waiting in line to buy lottery tickets. With the current round, the lines are longer than ever. Americans spend over $70 billion on lottery tickets each year. In West Virginia, America’s second-poorest state, the average person spent $658.46 on lottery tickets last year.
Powerball players pick six random numbers when they purchase their tickets, with a certain percentage of sales going to the jackpot. If no winning ticket is sold, the jackpot rolls over to the next round.
The totals for the Mega Millions and Powerball national lotteries have been growing every year. This year’s jackpot has eclipsed 2012’s record of $656.5 million, the $390 million payout in 2007 and the $363 million prize in 2000. The jackpots have grown in direct proportion to ticket sales.
State-run gambling programs such as Powerball have been promoted by Democrats and Republicans alike as a solution to state budget shortfalls, even as the politicians slash taxes on corporations and wealthy individuals and gut social programs. From the standpoint of government revenue, lotteries and casinos are nothing more than a back-door regressive tax, soaking up money from the poor in proportion to the growth of social misery.
The boom in lotteries is global. Lottery sales grew 9.9 percent worldwide in 2014, after growing 4.9 percent in 2013.
Psychology Professor Kate Sweeny has noted that lottery sales grow when people feel a lack of control over their lives, particularly over their economic condition. “That feeling of self-control is very important to psychological well-being,” Sweeny says.
There is ample reason for American workers to feel they have no control over their lives. According a recent survey by Bankrate.com, more than half of Americans do not have enough cash to cover an unexpected expense of $500 or more—roughly the price of four name-brand tires.
Some 62 percent of Americans have savings of less than $1,000, and 21 percent do not have any savings at all. Most Americans are one medical emergency or one spell of unemployment from financial ruin.
I never play the lottery because it's a scam that targets poor, desperate people and the odds just aren't worth it. But I will admit to buying a ticket just this once, if anything just for fun so I could fantasize for a day what I would do with $900 million that suddenly fell into my lap.
You would give over half of it to uncle sam.
Don't you love this tax system!
Yes, I did!The lottery is up to a record breaking jackpot did you buy a ticket?
The lottery and social despair in America - World Socialist Web Site
Yes, I do in fact. $450 million dollars isn't chump change.
The lottery isn't political. Stop it.
I bought a few tickets. I know it's an astronomical chance, but what the hell? It's a few dollars every so often. I probably spend a total of $50 a year on the lottery...hardly a microcosm of social despair. I spend far more on more ridiculous things.
The lottery, like gambling, is what you make of it. I see nothing wrong with using it as a harmless diversion.I never play the lottery because it's a scam that targets poor, desperate people and the odds just aren't worth it. But I will admit to buying a ticket just this once, if anything just for fun so I could fantasize for a day what I would do with $900 million that suddenly fell into my lap.
You have to be stupid if you're one of those people that spends hundreds, if not thousands of dollars on lottery tickets every year. I see this **** every time I stop at a gas station in a poorer area, these idiots really think that one day they will strike big. I have no sympathy for that.
I have purchased two tickets for this jackpot and if I win I'm getting new carpet!
I have purchased two tickets for this jackpot and if I win I'm getting new carpet!
Yes, I did!
Four tickets - one for each immediate family member, save for the dogs. But I usually buy a ticket every week, so buying four was a splurge of sorts.
My immediate needs are pretty modest; I'd pay-off the mortgage. Besides that, we already have all the basics we need satisfied. I'd consider popping out maybe a 100K into my checking account, and then sit on everything else for six mos in order to get some perspective.
In the most excessive case, I would only live off the interest and investment income, preferring to conserve and grow my capital.
And most importantly! I'd firstly incorporate and receive the winnings anonymously! I wouldn't tell anyone, not even my family, not even my kids! Like these guys:
Chicago Tribune: The secret millionaires next door
BTW - It's up to 900K now!
Source: USAMega.com
Most whole heartily agree. Although, I think we'd have to tell the kids. With my wife and I not working anymore, they'd think something was up.I would only live off the interest and investment income, preferring to conserve and grow my capital.
And most importantly! I'd firstly incorporate and receive the winnings anonymously! I wouldn't tell anyone, not even my family, not even my kids!
I'm serious though, I wouldn't even tell the kids.Yeah, we bought a few. Don't really buy them until the winning get to be around $400M or so. Don't really care if that reduces my chances or not.
Most whole heartily agree. Although, I think we'd have to tell the kids. With my wife and I not working anymore, they'd think something was up.
One thing for sure, paying those exorbitant college tuition fees would be easier!
I don't know about there, but here almost every large jackpot winner ends up in bankruptcy and/or homeless . They go on such a spending spree the money runs out between five and seven years.
I hope you lose, friend
I have purchased two tickets for this jackpot and if I win I'm getting new carpet!
I don't know about there, but here almost every large jackpot winner ends up in bankruptcy and/or homeless . They go on such a spending spree the money runs out between five and seven years.
I hope you lose, friend
I guess it's all about how you handle it. Yes, there are some winners for whom it's the worst thing to happen in their lives. Others, not so much.
As Chomsky pointed out, and I agree, stash the vast majority of it with the financial adviser / broker / whatever, and only live off of the dividends / interest / whatever.
Also wise council is to have your lawyer pick up the winnings, and not disclose your identify, unless confidentiality is guaranteed. No need to put a huge bulls eye on your back for every huckster to come and try to take their bite out of you.
Well, considering it's not too hard these days to go bankrupt or become homeless (in America, we're all only one major health-problem away), may as well go out in a blaze of glory! :thumbs:I don't know about there, but here almost every large jackpot winner ends up in bankruptcy and/or homeless . They go on such a spending spree the money runs out between five and seven years.
I hope you lose, friend
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?