Tax and Spend Consequences
Date: Mon 8-Aug-2022Time: 13:08 – MDT
I just bought a jar of strawberry jam at Walmart. Less than ten years ago, it cost me $3.50. Today, it was $5.68.
I was planning on buying two — I put one back.
Tax and Spend - The Program
While not a political site (and I have no intent of turning it into one...), there are circumstances that prompt a discussion. The current economic situation and administration "remedy" is one.
This year, we've seen record inflation. As a response, the Senate just passed something called the "Inflation Reduction Act". Which means you'd better hang on to your hat and your wallet, because, it will not reduce inflation. As Alan Greenspan once observed, "Every problem spawns an equal and opposite government program that will make the problem worse."
As of this writing, it goes back to the House for ratification, which, given the current makeup of the house, is all but guaranteed.
The Consequences
"What does this have to do with the lottery, and, specifically Lottery Proto?" you ask
Well, as the cost of living goes up, people cast about for solutions. Winning the lottery would solve all economic problems for most people (although it would also introduce other problems.)
As a result of increased inflation, it's not unreasonable to assume there will be an increase in the purchase of lottery game tickets, as people get more and more desperate for real "inflation reduction".
It's not a good idea, and not an approach that we would advise. See the Lottery Education page for a breakdown of the lottery as a likely solution to your economic issues.
The bottom line is that, no matter how difficult things may get, don't get caught up in the fantasy that if you dump more money into the lottery, you're more likely to win.
The advice at the end of the page sums up what should be your practice in any time or economic circumstance:
Decide what you can spend up front, what you can comfortably afford to lose, and play accordingly, expecting to lose.
But happy, if you chance to win, of course.
If you do play and you want to exert some personalized influence over the numbers you choose, Lottery Proto is here to help you do that.
In any case: Cheers, and good luck in the coming interesting times.
