If you - or any other private business - ran the State Lottery…
1. You’d be jailed for saying that someone who wins $1 million per year for 20 years won “$20 Million”.
That’s because the “time value of money” is involved.
$20 Million dollars won at a single point in time, because of interest earnings would pay out more than $1 million per year for 20 years.
Just ask the insurance agents who used to say the same thing about the annuitized payouts of cash value life insurance. What’s a crime for them is standard operating procedure for your state lottery.
2. You’d be first demonized then financially penalized for the “social cost” of your business…
Did you know that the lottery produces a 100% addiction rate in a certain class of individuals? Yes…
Politicians.
But we’ll get back to that in a minute.
There is a social cost to any form of legalized gambling.
It tends to undermine the work ethic in the population at large… if fosters a mentality that says “why work, sweat, save and beat my brains out building a business or working 2 jobs when I could just win the lottery?”
For another percentage, it serves as an introduction to or outlet for full blown gambling addiction. Like any full blown addiction, the addict would rather gamble than feed his family.
The health care, feeding, and even shelter needs of neglected family members are then passed along to society at large.
Just remember big tobacco. There’s nothing you can say about them selling nicotine containing products and “knowing people would become addicted” that can’t be said about the state lottery.
It’s addictive.
It destroys a certain percentage of lives.
It shifts costs to the taxpayer.
It advertises where children can see it.
But there’s big money in it… so to heck with the dangers, full speed ahead.
So if a private business ran the lottery, they’d be demonized and then penalized… but allowed to keep functioning because of those people who are 100% addicted by the lotteries…
Politicians.
They love the fresh new revenue.
Like gambling addicts, they never ask if the money will ever stop flowing.
So they make wild budget projections based on endless streams of easy lottery money and then — some other new lottery comes along, offers a few more bucks, and suddenly state lottery revenues decrease.
From what I understand, there’ s no state with a lottery that hasn’t had to raise property and other tax rates to fund the programs the lotteries initially funded.
That’s because there’s no proven treatment plan for political addicts… they’ve never been known to recover.
The only cure is to take them away from the source of their temptation cold turkey so they can never vote to spend money again.
Yes, if you’re a private business, you’re held to a completely different moral standard than any state lottery or any government enterprise…
Their daily crimes would have your business shut down.
It’s time to help these poor souls.
Only you can help them this election cycle.
Help a political spending addict quit cold turkey.
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