By Now most everyone has heard of the 276 cars that Oprah Winfrey (actually Pontiac, but it was her show) gave to her audience for "free". The retail of the cars was around $28k. Oh how happy they all were!
Then there is the rest of the story. As anyone who has been around longer than the 80s know, nothing in life is free! And indeed, these poor people (I understood that the audience for that show was people in the bottom quarter in terms of income) are finding out the hard way. They cannot even claim their cars until they come up with $7k for Gift taxes! Well, duh! We know the government is always going to take its share!
But that is not the real point of this blog. The real point is the Lotteries. Let me see if I have this correct:
The Government (states) sells the tickets, collects the money and then pays out the prizes. Ok, so far so good. But, every time a prize is paid out, does the winner get the stated amount? Noooooooo! They get ripped off by the government again! Taxes!
Now I am not saying the government should not get its cut. It is their racket after all (and it is a racket). But I strongly object to their false and misleading advertising! Do you think they would let any private concern advertise that "Buy one Get one free (but only after you surrender half of the prize)"? The company would be hauled into court so fast the ink on the ads would not even be dry!!
Yet that is what happens every day in the 40 odd states that have lotteries! They advertise a 'jackpot' of $100million, knowing full well that the stated amount will never leave their coffers! Right off the top, depending upon the state, 30-40% comes out for taxes! So here is a bunch of mentally challenged bureaucrats, saying you get $100m, but only giving you $60m!
It is not like they did not know you were going to get stiffed. They have it set up so you cant get your money without the deduction! Now if it was a private company, they could do one of 2 things. The same thing the government does (in which case they would be giving you the money, but then the government would dip into your pocket and take it away), or they could pay the taxes and give you a net (not likely, but possible). In either case, they would be giving you the amount they advertised.
But not the government. They lie to you like they do not (rightfully so) allow any private company to do it!
It is time for truth in lottery laws to be enacted! Dont expect any of the "hands in your back pockets" politicians to sponsor and/or support this type of legislation! I dont play the lottery for the simple reason that I am aware of this scam, and it disgusts me. But I think that what is good for the goose, should be good for the gander. It is time for the government, and our elected representatives, to play by the same rules they make us play by.
I doubt it will ever happen. But maybe if enough people get angry, and quit buying the slop the grima wormtongues spit out, the people of this country can change it for the better. And by people, that is any hard working citizen that plays by the rules. Which leaves out all the politicians.