Wall Street guys win Powerball lottery

Three wealth managers from Greenwich, CT, bought a $1 ticket and won the $254 million jackpot:

http://www.nydailynews.com/news/national/wealthy-connecticut-trio-win-245-million-powerball-article-1.983858

At least one Occupier is whining already:

 

Well, he's right.

The other day, I walked out of a gas station, as usual full of roughnecks.

I asked my wife, "Do wealthy people just not buy gas?"

She said they do, but they just don't pop into the attached convenience store like poor people do.

Cigarettes and lottery tickets. The twin siren songs.

 

The lottery does not screw the poor. It screws the stupid. Usually.

 

Not stupid. Uneducated.

Uneducated = Poor.

 

You can be uneducated and still be stupid.

The odds of winning the Powerball are 1 in about 195 million. That makes it a good bet to put a dollar down on any chance you can win more than $195 million, and a bad bet to put a dollar down when the pot is lower than that.

 

Talk about regressive taxes.

If lawmakers wanted to help the poor, they'd make both illegal. But, they need the money too much -- and they don't care that it comes from the poor.

 

If $1 is not going to break your budget, why not buy a big-money lottery ticket? We waste a lot more money than that on other things.

 

That really how much you think they're spending?

 

If 3.25 percent is not going to break the bank, why not a tax increase on the wealthy to preserve a $1,000 tax break for families making less than $50,000 a year?

 

Obviously, one shouldn't spend a paycheck on the things. But if we ban things that are wastes, we'd be banning gourmet meals (what's needed for sustenance is a lot cheaper), yachts, balloon payments, most toys, etc.

Poor people have enough problems without being moralized to about how to have a little fun and have a little hope.

 

Nothing to do with morals.

Everything to do with economics.

 

So I would assume everyone who is anti-lottery is anti-gambling and wants to shut down Vegas too, right?

And before you say it, yes, I know the odds of winning are much bigger in certain games in Vegas, but the principle's basically the same -- playing a game most people lose money on with the hope of coming out ahead.