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In 2020 it was $26.692393b. From https://www.taxpolicycenter.org/statistics/lottery-revenue https://www.taxpolicycenter.org/statistics/lottery-revenue In 2020
by lottoooo1 4y ago
In 2020 it was $26.692393b. From https://www.taxpolicycenter.org/statistics/lottery-revenue https://www.taxpolicycenter.org/statistics/lottery-revenue
In 2020 Apple iPhone sales were $73.3b in the Americas, which includes South America. From https://www.businessofapps.com/data/apple-statistics/ https://www.businessofapps.com/data/apple-statistics/
Sounds dubious. But lotto sales were really, really high. $26.7b could have gone to something worthy.
The reason lottos are bad, and which is really poorly articulated in this article about empathetic personal stories, is that they compete in the $1-3 category, where cultural products thrive. Unlike an income tax increase, which competes in the $1,000+ category (typically). But nonetheless similar to a sales tax (increase may be $0.10-$1.00 per purchase).
It really is as simple as, "pay for this app it costs one coffee." We are all worse off competing against this bullshit. That said, Apple and Google could ban virtual slot machines, DraftKings, etc. and little of value would be lost, and its other developers would gain a lot, but nah, they don't do that, because they are greedy.
- ballenf 4y agoThe $26 billion is revenue. Not lotto sales. It's a very inefficient and uneven redistribution of wealth.
- sokoloff 4y agoIndeed. Gross ticket sales would be approximately double the reported revenue.
- karaterobot 4y agoI'm not sure I understand this distinction. Revenue is all the money coming in, before expenses. Are you thinking the actual number should be higher or lower?
- Eisenstein 4y agoI think that revenue doesn't include tickets - payouts. If you win $20 on a $1 scratch off, that is $19 in cash that is removed from the cash register and charged to the state.