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Comments about ‘Think Powerball money goes to a good cause? Think again’

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Published: Thursday, Nov. 29 2012 11:00 a.m. MST

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Red
Salt Lake City, UT

Great. So America is getting fleeced and we are shipping our 30% of the money off to Italy.

That should be illegal.

Can someone please put a stop to this?

one old man
Ogden, UT

Red, the question is not "can" someone put a stop to it. The question is actually "will" anyone put a stop to it?

There are enormous piles of good ol' MONEY involved and a lot of that money is used to buy off lawmakers to ensure that they won't try to stop the scams.

One good thing about Utah is that we haven't fallen for the myth that lotteries are good things -- yet.

TiCon2
Cedar City, UT

I've said it before, i'll say it again:

Prize-linked Savings.

Redshirt1701
Deep Space 9, Ut

It is ironic that states use a "stupid tax" to fund education. As was pointed out in the article, the proceeds don't go much for education and are typically paid by the poor.

If you want to see a failed education system, look at the states and areas with the lottery.

JoeBlow
Far East USA, SC

"we are shipping our 30% of the money off to Italy."

I do not know how much the Italian company gets. This article only stated that

"a portion of the money goes to an Italian-based company..."

mcdugall
Layton, UT

@Red The article made no mention of 30% going to Lottomatica (The Italian based company mentioned in the article). Lottomatica bought out their American competitor Gtech in 2006. Lottomatica's revenue is slightly under 3 billion Euros across all of their holdings, so there is little data to suggest that their cut is 30%, if it were, their revenues would be much larger.

GZE
SALT LAKE CITY, UT

72 percent does not go to schools. That means 28 percent does go to schools. Yesterday's $500 million powerball, therefore, generated $140 million for schools that they would not otherwise have. If Utah got 1/50 th of that money that would be almost $3 million given voluntarily.

TiCon2
Cedar City, UT

"If Utah got 1/50th of that money that would be almost $3 million given voluntarily."

I highly doubt the proportion would be 1/50th. It could possibly approach 1/100th, but even that is doubtful.

And wishing for that 1.4 million more to throw blindly at educational issues is to ignore the unintended consequences a lottery imposes on the state economy. Lotteries do not exist in a vacuum.

one old man
Ogden, UT

Taxes it is reported that have not gone down in any states with lotteries in spite of promises made to that effect when lottery approval was being sought.

NedGrimley
Brigham City, UT

"If you're justifying your Powerball ticket purchases by assuming the profits go to a good cause, think again"

I doubt anyone buying a lottery ticket is thinking it's going to any good cause other than their own.

Redshirt1701
Deep Space 9, Ut

To "GZE" lets get this right. There was around 200 million tickets sold, at $2 each, that means that $400 million was collected in lottery tickets, so that $140 million could go to schools? Basically, you are advocating giving millions of dollars to a private company so that schools can get just 35% of all of the money collected?

Would you advocate paying $6 for a tax, and have $4 go to a private company and only $2 go to the government?

lost in DC
West Jordan, UT

Old man,
I cannot beleive it, but I "liked" your comment.

let's remember this milestone date!

let those who support lotteries as educational support go every week to the local school and give them the $5 you would have spent on lottery tickets.

worf
Mcallen, TX

Romney, and others, spent years building their wealth, and was criticized for it during the campaign. Our president would call it unfair, and would increase their taxes.

Now someone gets wealth for doing nothing, and is cheered.

I don't get it.

Shaun
Sandy, UT

@redshirt. It is not better to give your money voluntarily to a company and some of it is used for education? Rather being forced through taxation?

Redshirt1701
Deep Space 9, Ut

To "Shaun" the problem is the people who are buying the lottery tickets. They are the people who can least afford them. It is a highly regressive tax that only hurts the people that they are trying to help.

Would anybody be in favor of creating an "education" tax where the poor paid 90% of the tax and the middle and upper class paid 10%?

That is the effect of lotteries. The poor pay the tax, and the end results are rarely good for the winner. The wealthy benefit from the tax because some of the lotteries go for scholarships to college.

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