Why The Powerball Jackpot Is Nothing But Another Tax On America’s Poor | Zero Hedge

http://www.zerohedge.com/news/2016-01-11/why-mega-millions-jackpot-nothing-another-tax-americas-poor

American adults spent an average of $251 on lottery tickets.  With a return of 53 cents on the dollar, this means the average person threw away $118 

More than 5% of lottery winners declare bankruptcy within 5 years of taking home the jackpot.  

Lottery ticket sales in the US in 2010:  $59 billion

One figure suggests that households making less than $13,000 a year spend a full 9 percent of their income on lotteries

In both West Virginia and Michigan, for example, lottery sales accounted for 36% of total state revenues in fiscal year 2010, and on average state with lotteries take in 11% of total revenues in the form of lotto ticket sales

Lotteries essentially target and encourage lower-income individuals into a cycle that directly prevents them from improving their financial status and leverages their desire to escape poverty

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