Expectation values and the common man

[Kidlicious]

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

Hell no. I hate ****ing Canada.

[snoopy369]

Originally posted by Wezil


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

Then how was your original post relevant to mine?

[snoopy369]

Originally posted by Kidicious


Hell no. I hate ****ing Canada.

That would be one nasty group ... er, maybe that's better left unsaid.

[Wezil]

You were arguing the good of lotteries in that they can pay for necessary things. I would expect my elected government to establish a fair tax system whereby they set taxes at a level sufficient to pay for the necessary things (education was your example).

Setting taxation too low but making up the difference with a Stupid Tax is not my preferred route.

[snoopy369]

Again, my point was the tax system is not the problem, but the budgeting system.

The tax system does nothing but acquire funds. The fairness of the tax system lies in HOW it acquires funds.

The budgeting system disposes of those funds.

The lottery was established to allow education to make up funds in which the budgeting system was not giving it. That is a budget problem, not a tax problem.

And, I still hold that it's better than just taking my money forthwith. I have the choice of whether to pay the tax or not, and how much I wish to contribute to the educational system. That's great for me. If some people pay more than they can afford to it, that's their stupidity, not mine.

[Ogie Oglethorpe]

Use of a fair tax would tax the sale of lottery tickets. (in a sense a taxation on the stupid).

[Wezil]

Originally posted by snoopy369
Again, my point was the tax system is not the problem, but the budgeting system.

Are we nitpicking?

The tax system does nothing but acquire funds. The fairness of the tax system lies in HOW it acquires funds.

The budgeting system disposes of those funds.

Fine.

The lottery was established to allow education to make up funds in which the budgeting system was not giving it. That is a budget problem, not a tax problem.

Also fine.

And, I still hold that it's better than just taking my money forthwith. I have the choice of whether to pay the tax or not, and how much I wish to contribute to the educational system. That's great for me. If some people pay more than they can afford to it, that's their stupidity, not mine.

In a libertarian society this would be true. We do not live in such a society.

In this country education is considered a necessary government expense. The government should therefore tax (and budget ) accordingly.

As for taking advantage of stupid people - It doesn't fit in my moral code.

[Victor Galis]

Originally posted by Wezil
It's already 'unfair' - it is a tax on the math impaired.

Not really. That statement is based on the theory that every dollar is worth as much as any other dollar. For some people 1/1,000,000 chance of having a million dollars is worth more than $1.

At my present level of income, every dollar is precious. If I had some moderate income, the chance at never having to work again would beat out whatever I could gain by spending $1.

[Kidlicious]

Just because you buy lotto tickets doesn't mean you are stupid. If you spend every dollar on them and neglect necessities then you are stupid with money, but the lotto is not a tax on stupid people. People who are stupid with money will spend it all foolishly anyway, regardless of whether there is a lotto or not.

[Wezil]

I have past experience in the gaming industry. While there are many that understand probabilities and 'play' for the pleasure, there are far more that do not understand this at all. Their money would be better spent/invested elsewhere.

[Kidlicious]

Originally posted by Ogie Oglethorpe
Use of a fair tax would tax the sale of lottery tickets. (in a sense a taxation on the stupid).

And it would cut the taxes of many stupid rich people.

[Kidlicious]

Originally posted by Wezil
I have past experience in the gaming industry. While there are many that understand probabilities and 'play' for the pleasure, there are far more that do not understand this at all. Their money would be better spent/invested elsewhere.

If your decision to play a game at a casino is based on your calculation of the probability of winning you don't understand probability.

[Ogie Oglethorpe]

Originally posted by Kidicious


And it would eliminate the taxes of all stupid people below the poverty line.

Fixed

[Wezil]

Originally posted by Kidicious


If your decision to play a game at a casino is based on your calculation of the probability of winning you don't understand probability.

I think that is my point.

[Kuciwalker]

Originally posted by KrazyHorse
Canadian lottery winnings are given as lump sums, and are exempt from taxation

I'd say that's a stupid way of doing things, but I don't think there is a good [economically efficient] way of handling a lottery.

edit: the lump sum bit, not the taxation