4 ms·
>Clearly you've never lived in a major city or around poorer people I live in one of the very odd Atlanta zip codes that abuts a very poor zip and very wealthy
by gte910h 16y ago
>Clearly you've never lived in a major city or around poorer people
I live in one of the very odd Atlanta zip codes that abuts a very poor zip and very wealthy zip (byproduct of segregation in the past). BMW's and Lotuses drive through the Taco Bell which is across from Section 8 Housing. (Here is the taco bell if you want to see, no Beamers in the drive thru at the time of photographing): http://bit.ly/a1RHMe http://bit.ly/a1RHMe
Of COURSE there are compulsive gamblers: They exist in every population.
I actually DO see people play the lottery all the time (and when it's over 100 million, I sometimes purchase a ticket or two). And I'll say, people of all stripes buy lottery tickets.
But again, I show you the size of commitment between business investment and lotteries. While in aggregate, people may spend lots on lotteries, at any one time, they are not forced to spend 1-50k dollars to do so. However with business investment, they spend those much larger amounts, and MUST spend those larger amounts to "play the game" so to speak. While some crazy people may spend hundreds per week on the lottery, exceedingly few spend thousands. Exceedingly few spend their savings.
However with BUSINESSES, people think "Oh, this is a SAFE investment" and they DO spend money they shouldn't spend and instead should be saving. (And yes, the compulsive gamblers have no savings, we know that, and they're not going to have any savings if you let them invest in websites either).
If you look at the data contined in:
http://faculty.chicagobooth.edu/emily.oster/papers/powerballnote.pdf http://faculty.chicagobooth.edu/emily.oster/papers/powerball...
You'll see, lottery funding comes across from ALL income groups, and the vast majority of lottery sales come from the middle 60% at all times. (Fig 1 on page 15)