Lotteries are bad news — regressive tax systems that nickel-and-dime the poor to raise money for public necessities such as school by dangling the false hope of riches before the unwashed masses.
lottery
Be Careful How You Spend Those Lotto Winnings
By 7.20.09
It’s a problem most lottery players would like to have but will never face — what to do with that jackpot?
Some States Continue To Sell Lottery Tickets Long After The Top Prize Has Already Been Awarded
By 7.8.08
Would you buy that “Million dollar” lottery ticket if you knew that someone had already claimed the million bucks? No? Well, if you buy lottery tickets in Virginia you may have been doing just that, according to a new lawsuit.
1 in 3 Lottery Winners Broke Within 5 Years
By 10.29.07
The sad news is that 1 in 3 lottery winners are in serious financial trouble or even bankrupt within 5 years. Why? The suddenly wealthy often never learn to manage their money.
What Should You Do If You Win The Lottery?
By 7.30.07
The lump sum payout is, for most winners, the best choice. You know the tax consequences, you know the lump sum payout and you often have the opportunity to invest the proceeds to earn more than you could with the guaranteed return from the annuity payments.
Good to know. Now we just have to concentrate on the numbers… the numbers…
Millions in Lottery Winnings Go Unclaimed
By 2.15.07
“Mr. Jackson, who lives in Hamden and could not be reached for an interview this week, told local newspapers back then that he had been distracted by caring for his sick father, who owned the floor-cleaning business where he worked. By the time Mr. Jackson realized he had the winning numbers, it was 11:45 p.m. on a Sunday night and he figured lottery headquarters would be closed. The next day was Columbus Day, a holiday, so he thought it was impossible to contact a state official.
Poor Mr. Jackson. If you people play the lottery, check your tickets! Its bad enough to throw away one dollar on a ticket, don’t throw away millions.—MEGHANN MARCO
McDonald’s Monopoly Won’t Make Anyone A Millionaire
By 10.19.06
When I was a kid, I always looked forward to McDonald’s Monopoly rolling around. It always seemed like a million bucks was just one Boardwalk sticker on the back of my small fries away. Of course, I didn’t know the odds, but as McDonald’s Monopoly rolls around again, Fast Food News has been kind enough to tell you exactly how unlikely you are to get anything at all.
