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Topic:
When the lottery gets up to $100 million 5 times as many people play as when it's $5 million [Locked] |
Yukishiro1  Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:00am
Subject:
When the lottery gets up to $100 million 5 times as many people play as when it's $5 million |
paulg_68 posted:
Tons of people and companies are sitting on large cash reserves right now. Why aren't they investing? By your logic, no one should ever sit on their money regardless of what the tax rates are. And yet they are sitting.
Explain.
You're flailing again. I didn't say everyone should invest all the time no matter what. I said the tax rate doesn't effect the decision to invest.
Lots of companies are sitting on cash reserves for a myriad of reasons but the tax rate isn't one of them.
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Yukishiro1 Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:00am
Subject:
When the lottery gets up to $100 million 5 times as many people play as when it's $5 million |
paulg_68 posted:
Scarne posted:
There isn't enough demand in the economy to be worth investing
Thank you for acknowledging that an investment has to be worthwhile.
No one disputes that. Investing 10 billion in Paulg's "let's base the tax code off people who buy lottery tickets!" probably is a bad idea. But the reason it's a bad idea isn't the capital gains tax rate.
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Azure-TheBlueOne  Title: Made in Alaska
Posts: 319
Registered: 2003-2-24 19:25:37
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Date Posted:
1/1/00 12:00am
Subject:
When the lottery gets up to $100 million 5 times as many people play as when it's $5 million |
paulg_68 posted:
You said they were the lowest historically. You already defined the time range.
History = everything that happened before now
Ah, so you'd rather argue semantics than discuss then.
I fixed it just for you.
Azure-TheBlueOne posted:
and this despite our tax rates being the lowest they've been, in the last several decades.
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eodoll Posts: 1,028
Registered: 2002-2-14 12:35:42
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Date Posted:
1/1/00 12:00am
Subject:
When the lottery gets up to $100 million 5 times as many people play as when it's $5 million |
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Our monetary system is broken because it seems to funnel to a select few..this causes inflation over time because more has to be printed out.
$1 a 100 years ago is not worth $1 today and thats proof the system is broke. If $1 a 100 years ago was still orth $1 today then it would mean money is distributed properly.
Taxes and strict regulations are a way to fix it.
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reesescups Title: //Captain America
Posts: 2,537
Registered: 2003-5-26 14:45:53
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Date Posted:
1/1/00 12:00am
Subject:
When the lottery gets up to $100 million 5 times as many people play as when it's $5 million |
paulg_68 posted:
This is because people are far more willing to take risks and make sacrifices when the possible rewards are ginormous compared to when they are just really big.
Actually with more people buying tickets, the possibility of sharing your reward is greatly enhanced...
I think your argument is a bit biased and skewed...
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ZigmundZag Title: Grammar Nazi
Posts: 1,211
Registered: 2002-3-25 23:03:00
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Date Posted:
1/1/00 12:00am
Subject:
When the lottery gets up to $100 million 5 times as many people play as when it's $5 million |
Yukishiro1 posted:
I've never, ever met a rich person who wouldn't have bothered to invest their money if they were taxed 40% on it instead of 15%.
High tax rates do have a negative effect on overall economic activity but it isn't because people decide it isn't worth making a bunch of money if they're going to be taxed at X rate instead of X-Y rate.
I'd say the Laffer Curve is a real effect, but it's been taken so far out of context it's mind-boggling. Upper income tax rates used to be something like 90%. Now they're what, 35% before deductions? Most of the talk around tax increases has been around returning them to the Clinton era. I'm pretty sure rich people were still making money and creating investments even in those dark times.
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Groucho48  Posts: 821
Registered: 2003-10-22 03:00:14
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Date Posted:
1/1/00 12:00am
Subject:
When the lottery gets up to $100 million 5 times as many people play as when it's $5 million |
If only 5 times as many folks buy lotto tickets when the prize increases by 20 times, the takeaway seems to be it would be better to have 20 $5 million lotteries than 1 $100 million lottery. It would also arguably be better to create 20 folks with $5 million each than one person with $100 million.
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GrilledCheez Title: The Lord's Balls
Posts: 1,060
Registered: 2006-3-22 11:06:32
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Date Posted:
1/1/00 12:00am
Subject:
When the lottery gets up to $100 million 5 times as many people play as when it's $5 million |
potential pay off versus investment explains rationally why so many people play at the higher lottery amounts. There is evena certain payoff where it actually becomes a good investment to play the lottery.
I do agree with Paul's basic premise though that more people play due to the big payoff. I don't think that supports his contention about taxes however. Because payoffs are relative regardless of the tax structure. And it's stupid to think people won't invest. making a million and being taxed 800k is still better than making nothing.
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Another word for expensive is successful.
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Date Posted:
1/1/00 12:00am
Subject:
When the lottery gets up to $100 million 5 times as many people play as when it's $5 million |
i thought about becoming a billionaire
but then saw the tax rates and decided id rather stay poor than be able to be driven around in a rolls royce.
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Jesus? No, but there is indeed a god shaped hole in the heart of man, why is yours so empty? -- snarf igraine
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__Bonk__  Posts: 5,122
Registered: 2009-7-25 03:04:52
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Date Posted:
1/1/00 12:00am
Subject:
When the lottery gets up to $100 million 5 times as many people play as when it's $5 million |
Lottery is the worst odds for any form of gambling the government is for it totally
Its only a matter of time before the US has a national debt lottery, which will tax the poor and bad at math people to pay for our ever increasing debt
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