I realize I’ve made this point before but, come on, talk about a sucker’s bet: The odds are before you ever strike it rich playing the lottery you’ll most likely be struck by lightning. Twice. Now consider this: Over a ten year period, somebody who puts $25 per week into a savings account or CD earning 4.5% compounded monthly will earn $16,417. Meanwhile, someone hoping to strike it rich by spending $25 on lottery tickets each week has to win $13,000 over that same period just to break even.
The bottom line: And that, my friends, is precisely why they call the lottery a tax on the stupid.
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