11/22 So in a recent article I've read that relatively poor people
who win state lotteries tend to lose all of their money and then
some within a couple of years, especially those who opt to collect
all of their funds up front. In other words, it's useless to give
poor money if they haven't actually earned it since they'll just
lose it. Something to be said about our tax system.
\_ are you equating lower tax brackets and welfare to the lottery?
\_ No, this says something about systems that give money without
education or expectation.
\_ TROLL HARDER!
\_ Did you see what happened to the homeless guy that Howard Stern gave
money to? He was one of those street drummers. He blew the
money on liquor and whores. He bought a very expensive leather
jacket that was then stolen from him. He bought himself some
nice drums which were also stolen. The idea was that he was
going to rent an apartment. I think Howard gave him $10K, which
was a year of rent. He was supposed to report back in with his
progress and never did. The station finally hunted him down. I
agree that education is the key, but entitlement programs often
don't include such components.
\_ Entitlement program != HUGE CASH PRIZES!
\_ Entitlement program == small cash prizes
\_ No. A prize is a one time bonus, while a low tax bracket
or government service is a regular income source. If your
job gave you a bonus, wouldn't you spend some of it on
impulse buys?
\_ Not if I was HOMELESS!!!
\_ Would you point me a research that says the entitlement
class tends to spend smaller regular payments more
responsibly than they do larger lump sum payments?
Or, to continue the above Howard Stern example, would
the recipient of the largess not just buy the drums
one month and the leather jacket the next?
\_ Would you point me to research that says the poor are
more wasteful of their money than, say upper-middle
class people with too much disposable income. Who
buys the Hummers and Luis Vuitton bags? It's not the
working poor.
\- i'm not sure it's much dumber of a homeless
person to blow $10k boon than for a berkeley phd
making $150k+ to be amassing credit card debt
[i know such a person]
\_ Buying expensive leather jacket and drums is good. This
will help stimulate the economy. |