U.S. Federal debt: should the U.S. run a federal lottery; proceeds to debt principle reduction?

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sear	U.S. Federal debt: should the U.S. run a federal lottery; proceeds to debt principle reduction?	Lead	[-]
Posts: 49293 (06/28/08 07:28 PM) CoAdmin.w/Grace06 Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	The U.S. has a debt that's fast approaching $10 $Trillion $dollars. States have implemented State, and even multi-State lotteries to help them with their budget shortfalls. Of course, realistically, even if the U.S. did run (or license) a federal lottery, the net revenue would simply dump into the treasury. But the enabling statute could specify that the U.S. federal debt would be reduced by that net revenue amount. Would that be a good idea? Or is a lottery just a tax on stupid persons that harbor the delusion they have any realistic chance of winning? The seven deadly sins are: 1. Gluttony 2. Anger 3. Envy 4. Greed 5. Lust 6. Pride 7. Sloth
Errol Grey		#1	[-]
Full-Fledged Member Posts: 1761 (06/28/08 08:24 PM) Minister Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	In Georgia, our legislature wrote into law that all Lottery proceeds go into a special fund for education. And that it could not be used to replace current revenues for education. Because of that, our state has created a free kindergarten program, is furnishing every school with computers for the students and computer labs, and started the Hope Scholarship program . Every Georgia resident student that graduates from high school with a B or better grade recieves tuition to a State college. And continues to recieve that scholarship as long as they keep their grades up.All paid for by the lottery. Congress could write the legislation that dumps all the proceeds into a special fund strictly for paying off our debt. With any funds left over going to either suppliment Medicare or bolster up Social Security. "A world without string is chaos" Rudolf Smuntz
sear		#2	[-]
Posts: 49295 (06/28/08 10:15 PM) CoAdmin.w/Grace06 Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	EG, I gather your point is, they can, and therefore they should. Next question. I don't have much problem with State run gambling. But I believe the odds of these State run games are nowhere near as good as other forms of gambling; perhaps casino gambling for example. So what's the deal with that? Should government sponsored gambling be a rip-off? Or should the odds be comparable to -the competition-? And in NY, not only does the State run these games. They've substantially diversified. I think they started out with just one. I think they called it "lotto". Now there may be over 20 different games. Lotto & Mega-Millions and pick 5 seem to be similar. But then there's a variety, perhaps 20 different instant scratch-off games. It seems to me the State is hooked on gambling. And perhaps my strongest reservation about this; the State actually advertises these games. It's bad enough they sponsor them. But the government encouraging citizens to gamble? When I was younger, the government pursued gambling with police "vice squads". Now, because government is getting a generous "piece of the action", suddenly not only is it not vice anymore. Now they're spending government money to encourage citizens to participate? EG, I think the Hope scholarship thing sounds absolutely fabulous. Sincerely! But where do we draw the line? Should government actually advertise gambling? The seven deadly sins are: 1. Gluttony 2. Anger 3. Envy 4. Greed 5. Lust 6. Pride 7. Sloth
Errol Grey		#3	[-]
Full-Fledged Member Posts: 1763 (06/29/08 08:35 AM) Minister Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	Th odds of winning the lottery are far better than winning in a casino. How do you think they can pay to build those lavish buildings and offer free room, meals and drinks to their patrons? Cause they seldom if ever lose. The games are devised to favor the house. If you want to talk about Government rip-offs, just look at the average pay check stub. How's this one. Where I live, they cahrge property taxes based on the assumed (assigned by the government) value of the home. This is to cover services provided. On top of that is an annual fee for garbage pick up. And recently a fee for emergency room services provided to the un-insured. Which around here translates to illegals. They charge for water used. Then they charge the exact same amount for letting that water run into the sewer system. And if you don't use the minimum, you still get charged for sewer usage. And that's just local. The feds take money for Social Security and use it to pay for any and all pet projects they have, and then have the gaul to tell us we may never recieve SS because the funds are not there as expected. At least with a lottery, you have a choice to participate or not. And a chance to get something in return. "A world without string is chaos" Rudolf Smuntz
sear		#4	[-]
Posts: 49299 (06/29/08 11:16 AM) CoAdmin.w/Grace06 Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	"The games are devised to favor the house." EG I've never heard of a gambling game that isn't. But what are the odds at a $1.oo one armed bandit? What are the odds w/ a $1.oo lottery ticket? Scale (proportion) the jackpots, and weight the odds. I haven't done the math. But I thought those that have say the casino gives better odds. But whatever. And though I've never been inside a casino, I've been inside the U.S. Capitol. That may rival any casino on Earth. So EG, you support a federal lottery? Next question: What do you think the odds should be? How much do you think a ticket (a play) should cost? And how should it be administered? At U.S. post offices? Via the Internet? The seven deadly sins are: 1. Gluttony 2. Anger 3. Envy 4. Greed 5. Lust 6. Pride 7. Sloth
Sherezada		#5	[-]
Full-Fledged Member Posts: 2347 (06/29/08 12:40 PM) Interpreter Extraordinaire Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	Sear, We have had a state-run lottery for many decades. The odds are not so bad -- 1 in 10,000 for the big one, and there are smaller prices whose odds go as high as 1 in 10. It runs twice a week. The proceeds are used for charity. However, I don't think it's a good thing. It has created generations of people who dream of getting rich by winning the lottery, and don't plan on what to do with their lives in case they never do. If I were President of Panama, I'd do away with the lottery, because it does more damage than good. But in truth, it's my joke, and I don't even get it. --- Sear
Errol Grey		#6	[-]
Full-Fledged Member Posts: 1764 (06/29/08 11:45 PM) Minister Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	People who replace hard work and planning with dreams of a lottery win, would just find something else to use as a substitute. "A world without string is chaos" Rudolf Smuntz
chatchy	Ref: Gambling	#7	[-]
Full-Fledged Member Posts: 986 (06/30/08 04:39 AM) Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	1) Quite a few years ago, I worked in a casino in Nevada. By state law, at that time, slot machines had to payout between 92 to 98.5 percent of the coins played. I always thought the best game in the casino, as for odds in favor to the player, was the cigarette machine. 2) The US Federal government has no business being involved with a gambling game. Period! *********************************** I ask you not to trust me. Trust must be earned. Trust is fragile and can be easily broken. Until that time when trust stands firmly in the light of truth it might be wise to trust no one as far as you can throw them**
Macaroo		#8	[-]
Full-Fledged Member Posts: 2167 (06/30/08 07:49 AM) Magnificent Mac Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	Anybody have any figures that would show how long it would take to pay off ten trillion dollars with lottery revenue, even if there was no interest? Mac "So... let me get this straight. You want to fly on a magic carpet to see the king of the potato people and you're telling me you're completely sane?"~ Arnold Rimmer
Dannytoro		#9	[-]
Full-Fledged Member Posts: 419 (06/30/08 08:08 AM) Lebanese Inuit Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	...........Federal Lottery!!!! Whose been dipping in my cookie jar of political wishlisting? But in my plan, you'd have many grand prize winners each drawing. Also loads of other prizes. Many cash, or tax credits. or services by gubberment agencies. Say you might win a services ticket. You could pick from an approved list. Army Corps builds a pond in your yard, or something like that. If you did not want a service, it could be redeemed for cash or a tax credit................You've been putting off that surgery?..use your onetime medicaid prize!.......lol "40 years of economic chaos brought to you by the two party system"
Errol Grey		#10	[-]
Full-Fledged Member Posts: 1765 (06/30/08 02:07 PM) Minister Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	Before you ask the ACE to build you a pond, check out the quality of their work in New Orleans. "A world without string is chaos" Rudolf Smuntz
sear		#11	[-]
Posts: 49320 (07/01/08 03:35 AM) CoAdmin.w/Grace06 Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	"2) The US Federal government has no business being involved with a gambling game. Period!" chatchy I know. But the US Federal government has no business being involved with a $9+ $Trillion $Dollar $Debt either. Period! Dt, You're killin' me. I hope they don't whisk me off and lock me in a rubber room for admitting it, but I like that idea. I really do. The seven deadly sins are: 1. Gluttony 2. Anger 3. Envy 4. Greed 5. Lust 6. Pride 7. Sloth
SouthernLadyGA		#12	[-]
Full-Fledged Member Posts: 162 (07/01/08 08:57 AM) Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	Would they use the proceeds to reduce the debt or spend it elsewhere....do you trust them to do the right thing??? Could the IRS be replaced with a lottery? Georgia Lottery sales for the first half of fiscal year 2008 reached nearly $1.7 billion and proceeds to education topped $417 million - exceeding the record set in the first half of the last fiscal year by more than $16.9 million. This brings the total raised for educational programs in the state of Georgia to more than $9.7 BILLION since the lottery's inception in 1993. "You cannot help the poor by destroying the rich. "You cannot strengthen the weak by weakening the strong. " "You cannot bring about prosperity by discouraging thrift. " "You cannot lift the wage earner up by pulling the wage payer down. " "You cannot further the brotherhood of man by inciting class hatred." "You cannot build character and courage by taking away men's initiative and independence." "You cannot help men permanently by doing for them what they could and should do for themselves". ---Abraham Lincoln--- __________________________________ "You are not drunk if you can lie on the floor without holding on." Last Edited By: SouthernLadyGA 07/01/08 09:00 AM. Edited 1 times.
Luck of the Draw		#13	[-]
Full-Fledged Member Posts: 1963 (07/01/08 09:10 AM) Beat the odds! Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	EG....must admire your state. Their ability to address education issues/needs in the manner they did. The Michigan Lottery was to be the god send in addressing education in the state. And that which was touted to voters for it's passage. The kicker was that all the proceeds wouldn't go to education. Any extra would be drained off into the general fund. As we speak, a shortage and talk of schools being closed, teacher lay offs as guess what? Seems to be funds shortage. We do have a number of Casinos and the $$$$ they do generate is mind boggling........ Life is not measured by the number of breaths we take, but the moments that take our breath away...
Errol Grey		#14	[-]
Full-Fledged Member Posts: 1771 (07/01/08 11:46 AM) Minister Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	Our Governor at the time, Zell Miller, was very publicly adamant about the education funds. He promised to veto any lottery bill that did not make the proceeds exclusivly for education. And he wasn't above naming publicly any legeslators that wanted different. He more or less forced our state lawmakers to write it into law. I used to like Zell. He was one of the few honorable men in politics. I think, however, he just got tired of being the go to guy for the Democrats and always being passed by for the VP spot on any ticket. Just my opinion. I know if I had worked as hard for the party for as little recognition as he got, I would be a little !!%+@% off. "A world without string is chaos" Rudolf Smuntz
Sherezada		#15	[-]
Full-Fledged Member Posts: 2364 (07/01/08 08:42 PM) Interpreter Extraordinaire Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	People who replace hard work and planning with dreams of a lottery win, would just find something else to use as a substitute. It may be too late for them, but it won't be too late for the babies, and for those who will be born in the future. But in truth, it's my joke, and I don't even get it. --- Sear
Dannytoro		#16	[-]
Full-Fledged Member Posts: 422 (07/01/08 09:20 PM) Lebanese Inuit Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	....Careful EG, remember some like to call Zell a traitor........... "40 years of economic chaos brought to you by the two party system"
Errol Grey		#17	[-]
Full-Fledged Member Posts: 1779 (07/02/08 09:42 PM) Minister Reply Quote More My Recent Posts Message Me Connection Blocking Invite Ignore User's Posts Report Post	I understand his frustration, He was a good man and a good Governor. a Pillar of the Democratic Party. For years, he was called on to help hold the party together. And never got more than a hearty handshake. I just think when Bill wanted a Southern Democrat with a good record for VP, and Zell wasn't even on the long list (forget the short list) he just felt abandoned. Many that call him traitor are the very ones that never showed any appreciation of what he had done all those years. "A world without string is chaos" Rudolf Smuntz

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U.S. Federal debt: should the U.S. run a federal lottery; proceeds to debt principle reduction?

U.S. Federal debt: should the U.S. run a federal lottery; proceeds to debt principle reduction?

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