$340 Million Powerball

I feel so, so, I don't know....*stupid*...

Hence buying a lotter ticket is risking "nothing" to
potentially (very low probability) gain a great deal -- clearly a
rational decision.

Hope that helps!

I like the way you think, David. It probably hurts your head, but I
like it, nonetheless...

;-)
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

"David Dyer-Bennet" wrote in message
...
"Jay Honeck" writes:

From my perspective, the lottery is just a "stupid tax" that I am
not required to pay. However, many others do...

That's my perspective, too.

Yet, today, for some reason, Mary and I blew a $5 bill on FIVE (count
'em --
FIVE!) Powerball tickets!

That's five more than we've ever bought before! (We actually had to ask
the clerk how to play the lottery. The people in line were
incredulous...)

I feel so, so, I don't know....*stupid*...

:-)

I've called it "paying my stupidity tax" quite often myself.

Let me offer for your possible use my rationalizaton: While, in
strictly *financial* terms it's a bad bet, that's not what actually
matters. In some arbitrary measure of personal "utility", an
occasional dollar spent on a lottery ticket is a complete triviality,
it doesn't constrain any other portion of my life at all. However,
winning 340 million dollars would completely transform some segments
of my life (in ways I think would be for the better), a great increase
in utility. Hence buying a lotter ticket is risking "nothing" to
potentially (very low probability) gain a great deal -- clearly a
rational decision.

Except that you wont win $340m by the time the deductions are made.

David Dyer-Bennet wrote:

"Jay Honeck" writes:

From my perspective, the lottery is just a "stupid tax" that I am
not required to pay. However, many others do...

That's my perspective, too.

Yet, today, for some reason, Mary and I blew a $5 bill on FIVE (count 'em
-- FIVE!) Powerball tickets!

That's five more than we've ever bought before! (We actually had to ask
the clerk how to play the lottery. The people in line were
incredulous...)

I feel so, so, I don't know....*stupid*...

:-)

I've called it "paying my stupidity tax" quite often myself.


Here in Massachusetts, only a fraction of the lottery ticket proceeds goes
to the winning pot. More than 50% (I believe) goes to the education
department. Might be wrong on the percentage - I'll have to check.

So buying a lottery ticket helps the State Education department. And,
eventually, SOMEONE wins the pot.

Gregg

Replicas of 15th-19th century nautical navigational instruments,
Restoration of my 1919 Herreshoff S-Boat sailboat, and
Steambending FAQ with photos:
http://home.comcast.net/~saville/index.html

Chris wrote:


"David Dyer-Bennet" wrote in message
potentially (very low probability) gain a great deal -- clearly a
rational decision.

Except that you wont win $340m by the time the deductions are made.

Yes Chris but in my state if the lottery hit $340 million your take if done
on installments would be about 8.8 million after taxes and yes the
government is getting a huge part of it especially since basically they're
paying you the interest off of it. But hey I think I can find something
constructive (and yes blow some)to do with 8.8 million.
Our lottery works out to you get about $26K per million jackpot and is
currently at $108 million (at least before last nights drawing).
John

"Chris" writes:

"David Dyer-Bennet" wrote in message
...
"Jay Honeck" writes:

From my perspective, the lottery is just a "stupid tax" that I am
not required to pay. However, many others do...

That's my perspective, too.

Yet, today, for some reason, Mary and I blew a $5 bill on FIVE (count
'em --
FIVE!) Powerball tickets!

That's five more than we've ever bought before! (We actually had to ask
the clerk how to play the lottery. The people in line were
incredulous...)

I feel so, so, I don't know....*stupid*...

:-)

I've called it "paying my stupidity tax" quite often myself.

Let me offer for your possible use my rationalizaton: While, in
strictly *financial* terms it's a bad bet, that's not what actually
matters. In some arbitrary measure of personal "utility", an
occasional dollar spent on a lottery ticket is a complete triviality,
it doesn't constrain any other portion of my life at all. However,
winning 340 million dollars would completely transform some segments
of my life (in ways I think would be for the better), a great increase
in utility. Hence buying a lotter ticket is risking "nothing" to
potentially (very low probability) gain a great deal -- clearly a
rational decision.

Except that you wont win $340m by the time the deductions are made.

So what? The argument doesn't depend on the exact amount. If I
netted *50 million* after taxes and all it'd *still* completely
transform some segments of my life. Heck, if I netted *10* million
after taxes it would.
--
David Dyer-Bennet, , http://www.dd-b.net/dd-b/
RKBA: http://noguns-nomoney.com/ http://www.dd-b.net/carry/
Pics: http://dd-b.lighthunters.net/ http://www.dd-b.net/dd-b/SnapshotAlbum/
Dragaera/Steven Brust: http://dragaera.info/