A Closer Look at the Lottery Jackpot
The lottery is one of the best ways to save tax dollars, but it can also be a serious money drain. Studies show that a majority of lotto players come from lower economic classes and have the lowest earnings. According to a Gallup study, the average jackpot winner makes between $36,000 and $89,000 a year. In this article, we’ll take a closer look at the benefits and risks of playing the lottery. In addition to saving money, a winner’s annuity payments can be tax-deductible.
Hitting the Lottery Jackpot focuses on the history of lotteries. Nibert traces the rise of lotteries to the sixteenth century in Europe and the eighteenth century in the United States. These popular games funded colonialism and burgeoning industries, and ultimately declined by the early nineteenth century. In addition to the financial and political benefits of playing the lottery, Nibert examines the ideological dimensions of the industry, which promote get-rich-quick individualism. In addition, he makes a strong case against lotteries as a pernicious government tax.
In Hitting the Lottery Jackpot, David Nibert exposes the underlying conflicts of interest that underlie the use of lotteries as a state tool. While the state profits from lotteries, advertising agencies, ticket vendors, and lottery operators profit from their promotion. In addition, less than half of the money that is wagered on lotteries ends up as prizes, and those who are low-income or minority groups are disproportionately affected by these practices.