quote:
Originally posted by Mr. Hooberbloob:
Trader, get off your high horse and reread the original intent of this post.
"i think the whole country should legalize gambling, let the government run it and use to money to get the country out of debt."
Nobody can say that you can't gamble. You can drive down the road and toss money out the window for all I care. You can bet, gamble, and flush your money down the toilet 24 hours a day here in Alabama. All you need is one other sucker and you've got yourself a gambling hall. Do it in the privacy of your own home, nobody is going to give a rats behind.
Anyone who believes a good investment strategy is to spend 1.1 billion dollars to get back 289 million has got to have their head inserted deep into their fourth point of contact. This is pure liberal math, and we know you guys aren't known for having stellar math skills.
I would love to see pawpaw try and convince any credible economics professor that gambling is a sound investment strategy. It's not going to happen, you just flunked Economics 101 along with Common Sense 101. Show me one example in any economics textbook that says gambling is a smart way to make money.
Getting back to the original intent of letting the government run it. Can anyone tell me anything the government has it's hand in that is not swimming in red ink? And you want the government to gamble with our money to get us out of debt? We are most certainly a doomed nation if you guys, with the exception of GOM, represent the majority.
Mr Hoober your argument does not hold water. Since you want to talk about economics 101 let me catch you up a little. The lottery had gross sales of 1.14 billion dollars, they had a profit of 288.8 million dollars to turn over to the state. That’s a 25.3333 percent profit, most outfits consider it to be a great year to turn a 3 percent profit or any at all for that matter. Even the oil companies are only doing 8 to 9 percent. The only ones that ever approach those percentages are companies such as Microsoft.
I would say that if the state enters an endeavor and profits even a tenth that much that it would from a business standpoint be unquestionably well worth the effort.
If Alabama were to have an education lotto and even do two thirds
(The population of Alabama is about two thirds the population Tennessee) as well that would be 192.5 million in a year and if divided equally among all 8 school districts in Alabama that would be 24.1 million per district. So anyway, do you think 24.1 million extra dollars per year could be well used by each of the districts?
If the benefits outlined above are not enough for anyone we must also remember that there are additional aftershocks of revenue for the state that would come from a lottery too. One would be that winnings are taxed so the winners would be pouring a decent percentage of winnings back into the state coffers over and above the hard profits from the lottery. It would create more jobs, part for administration of the lottery, additionally we would be able to hire more teachers and other school employees. This of course brings down unemployment a little and there are more taxpaying citizens in the state spending money here. Of course the most important part is that the real winners of an education lottery are the kids. Overall they get a better education out of the deal and are offered more opportunities for learning. In turn they grow up and end up with better jobs than they might have had otherwise.