A Tax on the Poor- The Lotto and the Surprisingly Common Sad Aftermath of Winning
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In this video:
It’s been called a voluntary tax on the poor and under educated, with people spending a whopping $60 billion a year in the United States alone on lottery tickets, most of which are purchased by low income individuals. (All total, about 20% of Americans play the lotto). Despite the high number of lotto tickets purchased annually, when playing the lottery (in all its forms), you’ll win an average of just 53 cents for every $1 you spend, making it one of the lowest return rates of any form of commercial gambling, and thus extremely profitable for the various government bodies who run the lotteries.
Want the text version?: http://www.todayifoundout.com/index.php/2012/12/on-average-people-who-earn-less-than-13000-a-year-in-the-u-s-spend-5-of-their-gross-earnings-on-lottery-tickets/
Sources:
http://papers.ssrn.com/sol3/papers.cfm?%20%20abstract_id=1324845##
http://link.springer.com/article/10.1007%2Fs11166-008-9041-1
http://wws.princeton.edu/news/Income_Happiness/Happiness_Money_Report.pdf
http://www.smartmoney.com/invest/stocks/why-lottery-winners-go-bankrupt-1301002181742/
http://www.forbes.com/sites/financialfinesse/2012/04/05/three-ways-not-winning-the-lottery-may-make-you-wealthy/
Music from Jukedeck - create your own at http://jukedeck.com.
Видео A Tax on the Poor- The Lotto and the Surprisingly Common Sad Aftermath of Winning канала Today I Found Out
→Subscribe for new videos every day!
https://www.youtube.com/user/TodayIFoundOut?sub_confirmation=1
Never run out of things to say at the water cooler with TodayIFoundOut! Brand new videos 7 days a week!
More from TodayIFoundOut
What is a Tarnation
https://youtu.be/DrBOJOUN3Sc?list=PLR0XuDegDqP3-uys3Rl2dvdsFkk96zRbt
Why is There an R in "Mrs" When It's Pronounced "Misses"?
https://youtu.be/PoUC22qR3Lk?list=PLR0XuDegDqP3-uys3Rl2dvdsFkk96zRbt
In this video:
It’s been called a voluntary tax on the poor and under educated, with people spending a whopping $60 billion a year in the United States alone on lottery tickets, most of which are purchased by low income individuals. (All total, about 20% of Americans play the lotto). Despite the high number of lotto tickets purchased annually, when playing the lottery (in all its forms), you’ll win an average of just 53 cents for every $1 you spend, making it one of the lowest return rates of any form of commercial gambling, and thus extremely profitable for the various government bodies who run the lotteries.
Want the text version?: http://www.todayifoundout.com/index.php/2012/12/on-average-people-who-earn-less-than-13000-a-year-in-the-u-s-spend-5-of-their-gross-earnings-on-lottery-tickets/
Sources:
http://papers.ssrn.com/sol3/papers.cfm?%20%20abstract_id=1324845##
http://link.springer.com/article/10.1007%2Fs11166-008-9041-1
http://wws.princeton.edu/news/Income_Happiness/Happiness_Money_Report.pdf
http://www.smartmoney.com/invest/stocks/why-lottery-winners-go-bankrupt-1301002181742/
http://www.forbes.com/sites/financialfinesse/2012/04/05/three-ways-not-winning-the-lottery-may-make-you-wealthy/
Music from Jukedeck - create your own at http://jukedeck.com.
Видео A Tax on the Poor- The Lotto and the Surprisingly Common Sad Aftermath of Winning канала Today I Found Out
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