Additionally: it acts like a regressive tax as it takes a higher percentage of the income of lower wage earners. Plus, it promotes gambling while at the same time other forms of gambling are illegal.
Opponents of privatizing the lottery: Please continue to put forth your arguments. My colleagues are gathered around the computer laughing their heads off at some of the logic. This is great entertainment. If you have any other theories on finance, please share them as well.
Texas got 3.77 billion in sales from the lottery last year. How much did it cost Texas to run the lottery? Example. if the state is going to get an annual payment of say 1.5 billion from the private company but it only takes 1 billion a year to run the lottery this is a bogus deal. If however if the company is going to pay Texas say 3 billion a year and it takes 1 billion to run then it might be worth it. (Legal and ethical questions aside). But a blanket statement that of course it's a good thing is ridicules without knowing the numbers.
Do your co-workers know what you do at your desk while obsessively watching Saddam snuff films and fantasizing about water sports with terrorists. They might want to watch where they put their hands.
I say let potential buyers have a shot at owning the lottery. The bidding companies should put up $50M each. Each company could choose six numbers between 1 and 54. If their number comes up in a drawing, they get the lottery. If not, Texas keeps the money. Fair enough?
you bring up the main point we are not discussing. we don't know the numbers. i was trying to find the lotto rev and cost numbers but i can't find them on the texas lottery web page or on the web. anyone know where the earnings are posted?
Repub Econ 101 Tax the Poor Use Government money to pay the Rich This is nothing more than a Robin Hood thing in Reverse like all other Government to Private ventures Rocket River
This is pretty minor, but I have a problem with Government privatizing an industry but leaving heavy regulations on it. If Governor Good Hair wants to sell the lottery, he should also make it possible for competition in the lottery. He shouldn't be creating a private monopoly on purpose. The lottery does have the competition of disinterest, but there's a principle at stake here. Random thought of the day: Does using lottery money for education seem counter-intuitive to anyone else? If the lottery money was enough to teach every kid math, none of those kids would grow up and play the lottery.
Why don't you give us several examples of the state privatizing state services and that privatization providing equal, or better, services to the people of Texas for less money. Go ahead. And say hi to your fellow monkeys for me, OK? D&D. Riotous Idiocy.
Because it's a terrible idea. Sacrifice a large revenue stream for years to come in favor of a few bucks now to spend on some corrupt politicians' pet projects? No thanks.
Why should the government be concerned about revenue stream? The government is not in the business of running lotteries. That is not what it does best. Somebody else can run a lottery far better than the government can. A lottery that is better run means a lot of things, primarily more revenue. That revenue is taxed, reinvested, paid out to workers, etc - that is capitalism. And last time I checked, capitalism works. There is no reason for the government to involve itself in private industry simply for the purpose of revenue. Perhaps if the government is so concerned with securing revenue it should cut down on what it needs that revenue for - spending.
You wouldn't be selling a LARGE revenue stream for a FEW bucks. It will be brought for market value. You need to go back to school, rookie.
