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#51
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$340 Million Powerball
I feel so, so, I don't know....*stupid*...
Hence buying a lotter ticket is risking "nothing" to potentially (very low probability) gain a great deal -- clearly a rational decision. Hope that helps! I like the way you think, David. It probably hurts your head, but I like it, nonetheless... ;-) -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
#52
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$340 Million Powerball
"David Dyer-Bennet" wrote in message ... "Jay Honeck" writes: From my perspective, the lottery is just a "stupid tax" that I am not required to pay. However, many others do... That's my perspective, too. Yet, today, for some reason, Mary and I blew a $5 bill on FIVE (count 'em -- FIVE!) Powerball tickets! That's five more than we've ever bought before! (We actually had to ask the clerk how to play the lottery. The people in line were incredulous...) I feel so, so, I don't know....*stupid*... :-) I've called it "paying my stupidity tax" quite often myself. Let me offer for your possible use my rationalizaton: While, in strictly *financial* terms it's a bad bet, that's not what actually matters. In some arbitrary measure of personal "utility", an occasional dollar spent on a lottery ticket is a complete triviality, it doesn't constrain any other portion of my life at all. However, winning 340 million dollars would completely transform some segments of my life (in ways I think would be for the better), a great increase in utility. Hence buying a lotter ticket is risking "nothing" to potentially (very low probability) gain a great deal -- clearly a rational decision. Except that you wont win $340m by the time the deductions are made. |
#53
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$340 Million Powerball
David Dyer-Bennet wrote:
"Jay Honeck" writes: From my perspective, the lottery is just a "stupid tax" that I am not required to pay. However, many others do... That's my perspective, too. Yet, today, for some reason, Mary and I blew a $5 bill on FIVE (count 'em -- FIVE!) Powerball tickets! That's five more than we've ever bought before! (We actually had to ask the clerk how to play the lottery. The people in line were incredulous...) I feel so, so, I don't know....*stupid*... :-) I've called it "paying my stupidity tax" quite often myself. Here in Massachusetts, only a fraction of the lottery ticket proceeds goes to the winning pot. More than 50% (I believe) goes to the education department. Might be wrong on the percentage - I'll have to check. So buying a lottery ticket helps the State Education department. And, eventually, SOMEONE wins the pot. Gregg Replicas of 15th-19th century nautical navigational instruments, Restoration of my 1919 Herreshoff S-Boat sailboat, and Steambending FAQ with photos: http://home.comcast.net/~saville/index.html |
#54
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$340 Million Powerball
Chris wrote:
"David Dyer-Bennet" wrote in message potentially (very low probability) gain a great deal -- clearly a rational decision. Except that you wont win $340m by the time the deductions are made. Yes Chris but in my state if the lottery hit $340 million your take if done on installments would be about 8.8 million after taxes and yes the government is getting a huge part of it especially since basically they're paying you the interest off of it. But hey I think I can find something constructive (and yes blow some)to do with 8.8 million. Our lottery works out to you get about $26K per million jackpot and is currently at $108 million (at least before last nights drawing). John |
#55
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$340 Million Powerball
"Chris" writes:
"David Dyer-Bennet" wrote in message ... "Jay Honeck" writes: From my perspective, the lottery is just a "stupid tax" that I am not required to pay. However, many others do... That's my perspective, too. Yet, today, for some reason, Mary and I blew a $5 bill on FIVE (count 'em -- FIVE!) Powerball tickets! That's five more than we've ever bought before! (We actually had to ask the clerk how to play the lottery. The people in line were incredulous...) I feel so, so, I don't know....*stupid*... :-) I've called it "paying my stupidity tax" quite often myself. Let me offer for your possible use my rationalizaton: While, in strictly *financial* terms it's a bad bet, that's not what actually matters. In some arbitrary measure of personal "utility", an occasional dollar spent on a lottery ticket is a complete triviality, it doesn't constrain any other portion of my life at all. However, winning 340 million dollars would completely transform some segments of my life (in ways I think would be for the better), a great increase in utility. Hence buying a lotter ticket is risking "nothing" to potentially (very low probability) gain a great deal -- clearly a rational decision. Except that you wont win $340m by the time the deductions are made. So what? The argument doesn't depend on the exact amount. If I netted *50 million* after taxes and all it'd *still* completely transform some segments of my life. Heck, if I netted *10* million after taxes it would. -- David Dyer-Bennet, , http://www.dd-b.net/dd-b/ RKBA: http://noguns-nomoney.com/ http://www.dd-b.net/carry/ Pics: http://dd-b.lighthunters.net/ http://www.dd-b.net/dd-b/SnapshotAlbum/ Dragaera/Steven Brust: http://dragaera.info/ |
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