Expectation values and the common man

[Kidlicious]

Originally posted by KrazyHorse


Canadian lottery winnings are given as lump sums, and are exempt from taxation

G damn Canada, always trying to one up us.

[snoopy369]

Actually, the lottery is not always a poor decision. It's unfortunately a poor decision by those who play it the most, but ...

If you are at an income level where say $5 per week is a meaningless amount to you, why not put $5 in the lottery? It's an amount that doesn't matter much to you, and in exchange you have a small chance at earning a large value. And, while doing so, you're contributing the rest to a good cause (assuming your lottery does go to a useful/good cause).


Take a lottery that gives 100% of the net proceeds to education. As a strong supporter of education, I'd ask - what other tax gives me the opportunity to specifically ask my money go to one specific thing? Road tolls are about the only other thing I can think of ... and I'm all for those as well, as long as they don't exclusively offset other monies.

[snoopy369]

In any event, my point was it's WORSE socially and morally if you don't tax the winners than if you do.

[Kidlicious]

Originally posted by snoopy369
In any event, my point was it's WORSE socially and morally if you don't tax the winners than if you do.

I agree. It's just another case of Canada trying to one up on us, but letting people get away without tax on unearned income while everyone else is taxed on their earned income.

[Kidlicious]

Originally posted by snoopy369
Actually, the lottery is not always a poor decision. It's unfortunately a poor decision by those who play it the most, but ...

If you are at an income level where say $5 per week is a meaningless amount to you, why not put $5 in the lottery? It's an amount that doesn't matter much to you, and in exchange you have a small chance at earning a large value. And, while doing so, you're contributing the rest to a good cause (assuming your lottery does go to a useful/good cause).


Take a lottery that gives 100% of the net proceeds to education. As a strong supporter of education, I'd ask - what other tax gives me the opportunity to specifically ask my money go to one specific thing? Road tolls are about the only other thing I can think of ... and I'm all for those as well, as long as they don't exclusively offset other monies.

I agree. You'll never come up fast investing in CDs.

[Wezil]

Originally posted by snoopy369
Take a lottery that gives 100% of the net proceeds to education. As a strong supporter of education, I'd ask - what other tax gives me the opportunity to specifically ask my money go to one specific thing? Road tolls are about the only other thing I can think of ... and I'm all for those as well, as long as they don't exclusively offset other monies.

I expect a fair tax system to accomplish this.

[snoopy369]

You want people to be able to determine where ALL of their tax money goes?

A) That's WAY too much work.
B) Can you imagine the advertising that would result from this?
C) You really think that The People can be trusted to 1) know and 2) care where their money should really go?

A fair tax system takes money from people in a way that encourages success (economic and otherwise), but doesn't take too much from anyone; takes enough to run a reasonable government on, but still requires tough budgeting from our government; and is simple enough to understand what things you can do to benefit the most from the tax system, but complex enough to still give the government the ability to encourage certain behaviors (see the first point).

You want a fair budgeting system, not a fair tax system. That's one that correctly puts the money in the right places.

[snoopy369]

BTW I can just imagine Ming reading the idea of everyone deciding where all of their tax money can go and just thinking 'if only...' as he and his buddies would make off more than anyone else there. In addition to the "Topinka helped George Ryan steal money" "No, Blagojevich stole money" ads they now make, they would be making "Schools need YOUR money most!" "Roads are crap ... give us more money to fix them!" ads constantly.

I'd never tune to NBC/CBS/ABC again...

[Arrian]

My wife & I will buy a ticket if Powerball gets over $100 million. At that point, it's worth the $1 ticket to us. Note: to us. That's the only time we throw away our money

-Arrian

[Arrian]

I'd never tune to NBC/CBS/ABC again

Good idea, I highly recommend it.

-Arrian

[Ogie Oglethorpe]

Originally posted by Kidicious


G damn Canada, always trying to one up us.

Why are you against taxxing the rich?

Or is it simply you are against taxing the criminally stupid?

[Kidlicious]

Originally posted by Ogie Oglethorpe


Why are you against taxxing the rich?

Or is it simply you are against taxing the criminally stupid?

Didn't KH say that in Canada lotto winnings are not taxed? If I'm against that how is that being against taxing the rich?

[Kidlicious]

I would like to see more jackpots around $20M. More than that is too much anyway. With $20 I'll be sitting pretty.

[Wezil]

Originally posted by snoopy369
You want people to be able to determine where ALL of their tax money goes?

A) That's WAY too much work.
B) Can you imagine the advertising that would result from this?
C) You really think that The People can be trusted to 1) know and 2) care where their money should really go?

This is why in our country we elect people to make these decisions.

[Ogie Oglethorpe]

Sorry I thought your post saying how Canada was outdoing the US was praise on Canadas wisdom for not taxing these proceeds.

How silly. I should have realized your comment was another I hate the US system comment.