On the plus side lottery players bet a little to win a lot.
I want to point out some things lottery players should know before they plunk down their dough on fickle Ping-Pong balls with numbers on them.
Taxing lottery winners gave the government another way to punish winners.
Do a little research and you will find scholarly objections to lotteries funding education.
www.aol.com
Right from the start of modern day state legislators shafted the people by asking for permission to change a state constitution and establish a lottery. Passing the Affordable Care Act used the same scam state lottery crooks used.
The first thing the public got was false advertising. The state advertises a jackpot knowing a winner will only get approximately half of the advertised amount.
If you are an average American and you win a jackpot advertised at 20 million dollars. The federal government will confiscate approximately 10 million. In addition to the fact there is no way in hell the federal government can ever return 10 million dollars in services if you live another thousand years! (Ask yourself how many billionaires ever pay 10 million in taxes in one year ?)
Pay ten dollars in taxes, or pay ten million dollars in taxes, and the average person will get the same treatment from the federal government —— “Thanks cluck. Now hit the road.”
States that have a tax on income also take a bite in addition to the federal tax on income. New York City also takes a bite from residents who win a lottery.
The yearly amount taken by the federal government is substantial in those states with large populations, not to mention those big multi-state lotteries where jackpots often grow to hundreds of millions of dollars —— and occasionally billions.
A 600 million dollar jackpot will send approximately 300 million to the federal government without federal parasites spending a penny to get the money. Washington does nothing to take its cut; it does not print tickets, maintain ticket machines, etc. Winners paid for their ticket and government parasites win the jackpot.
Realistically, a minute number of people will win a lottery in each state; so lottery players should look at what they spend —— not what they hope to win. They should realize that winners and loses give fifty cents out of every dollar they spend on lottery tickets.
Many voters who would never buy a lottery ticket voted for a state lottery because they thought they would benefit through education funding, etc. Had voters fully examined the tax ripoff before they voted, I doubt if enough votes could have been found to approve of a lottery in any state.
The hook that grabbed voters said that lottery revenues would help fund higher education, yet after sending half of the money earned from lottery sales to the federal government every state that earmarks lottery money for higher education claims a budget shortfall. So education ends up with taxpayers making up the never-ending shortfalls rather than simply keeping the lottery money that is sent to the federal government.
In case you are wondering about it, there is not a chance the federal government returns more tax dollars than it takes from any state.
Also, some of America’s wealthiest “humanitarians” are allowed tax writeoffs when they give untold millions to foreign charities. Does anyone know if a lottery winner can reduce their tax bite by claiming a deduction to their favorite charity before the federal government scoops it up with a backhoe?
Imagine winning a $300,000,000 jackpot and telling the federal government that you want the government’s $150,000,000 to go to your church. Guess how far you would get with that effort?
I always hoped that a person with a winning ticket would give the ticket to a tax exempt charity. The charity could then demand all of the money when it claimed the prize. I wonder how that would play out?
Finally:
In 1995, George W. Bush, then Texas governor, appointed Miers to chair the Texas Lottery Commission. Some have credited Miers with reforming the commission after a previous corruption scandal.
en.wikipedia.org
Harriet Miers Withdraws Nomination
By Fred Barbash
October 27, 2005
On my first message board in 2000 I had a few thoughts about Miers.
I think she loves lawyers more than she loves the law.
I would like to know exactly what Miers did during her time on the Texas Lottery Commission? My initial thought about Miers is that her time on the commission will show that she is part of the big government problem rather than part of the solution.
Conservatives should take a close look at her time on the Texas Lottery Commission. Specifically, did she ever move to stop the federal government from taxing Texas lottery winners? Lotteries were setup to give state governments more revenue, yet the federal tax collector is the big winner. The current system shows that federal and state tax collectors are working together to screw the poorest people in society.
And please do not tell me that the states cannot pass legislation exempting lottery winnings from federal taxes. Different types of bonds are exempted from taxation; so why not lottery winnings?
If there is anything remaining of states’ rights it is the Right to run a state lottery without piecing off federal parasites by sending money out of the states. Even those people who delight in seeing the poor cut their own throats every time they buy lottery tickets should resent seeing so much money leave their state. What was Miers’ role in that method of tax gathering? And will she recuse herself if a case involving a state lottery comes before the Court?
I want to point out some things lottery players should know before they plunk down their dough on fickle Ping-Pong balls with numbers on them.
Taxing lottery winners gave the government another way to punish winners.
Do a little research and you will find scholarly objections to lotteries funding education.
Does the lottery do more harm than good?
As exciting as billion-dollar jackpots can be, some research suggests that far-fetched dreams of striking it rich take a toll on the communities that can least afford it.
www.aol.com
Right from the start of modern day state legislators shafted the people by asking for permission to change a state constitution and establish a lottery. Passing the Affordable Care Act used the same scam state lottery crooks used.
The first thing the public got was false advertising. The state advertises a jackpot knowing a winner will only get approximately half of the advertised amount.
If you are an average American and you win a jackpot advertised at 20 million dollars. The federal government will confiscate approximately 10 million. In addition to the fact there is no way in hell the federal government can ever return 10 million dollars in services if you live another thousand years! (Ask yourself how many billionaires ever pay 10 million in taxes in one year ?)
Pay ten dollars in taxes, or pay ten million dollars in taxes, and the average person will get the same treatment from the federal government —— “Thanks cluck. Now hit the road.”
States that have a tax on income also take a bite in addition to the federal tax on income. New York City also takes a bite from residents who win a lottery.
The yearly amount taken by the federal government is substantial in those states with large populations, not to mention those big multi-state lotteries where jackpots often grow to hundreds of millions of dollars —— and occasionally billions.
A 600 million dollar jackpot will send approximately 300 million to the federal government without federal parasites spending a penny to get the money. Washington does nothing to take its cut; it does not print tickets, maintain ticket machines, etc. Winners paid for their ticket and government parasites win the jackpot.
Realistically, a minute number of people will win a lottery in each state; so lottery players should look at what they spend —— not what they hope to win. They should realize that winners and loses give fifty cents out of every dollar they spend on lottery tickets.
Many voters who would never buy a lottery ticket voted for a state lottery because they thought they would benefit through education funding, etc. Had voters fully examined the tax ripoff before they voted, I doubt if enough votes could have been found to approve of a lottery in any state.
The hook that grabbed voters said that lottery revenues would help fund higher education, yet after sending half of the money earned from lottery sales to the federal government every state that earmarks lottery money for higher education claims a budget shortfall. So education ends up with taxpayers making up the never-ending shortfalls rather than simply keeping the lottery money that is sent to the federal government.
In case you are wondering about it, there is not a chance the federal government returns more tax dollars than it takes from any state.
Also, some of America’s wealthiest “humanitarians” are allowed tax writeoffs when they give untold millions to foreign charities. Does anyone know if a lottery winner can reduce their tax bite by claiming a deduction to their favorite charity before the federal government scoops it up with a backhoe?
Imagine winning a $300,000,000 jackpot and telling the federal government that you want the government’s $150,000,000 to go to your church. Guess how far you would get with that effort?
I always hoped that a person with a winning ticket would give the ticket to a tax exempt charity. The charity could then demand all of the money when it claimed the prize. I wonder how that would play out?
Finally:
In 1995, George W. Bush, then Texas governor, appointed Miers to chair the Texas Lottery Commission. Some have credited Miers with reforming the commission after a previous corruption scandal.
Harriet Miers - Wikipedia
en.wikipedia.org
Harriet Miers Withdraws Nomination
By Fred Barbash
October 27, 2005
On my first message board in 2000 I had a few thoughts about Miers.
I think she loves lawyers more than she loves the law.
I would like to know exactly what Miers did during her time on the Texas Lottery Commission? My initial thought about Miers is that her time on the commission will show that she is part of the big government problem rather than part of the solution.
Conservatives should take a close look at her time on the Texas Lottery Commission. Specifically, did she ever move to stop the federal government from taxing Texas lottery winners? Lotteries were setup to give state governments more revenue, yet the federal tax collector is the big winner. The current system shows that federal and state tax collectors are working together to screw the poorest people in society.
And please do not tell me that the states cannot pass legislation exempting lottery winnings from federal taxes. Different types of bonds are exempted from taxation; so why not lottery winnings?
If there is anything remaining of states’ rights it is the Right to run a state lottery without piecing off federal parasites by sending money out of the states. Even those people who delight in seeing the poor cut their own throats every time they buy lottery tickets should resent seeing so much money leave their state. What was Miers’ role in that method of tax gathering? And will she recuse herself if a case involving a state lottery comes before the Court?
