Posts tagged with: aspirational insurance

Joe Carter
posted by on Tuesday, April 3, 2012

Whether the lottery is, as the old adage states, a tax on people who are bad at math, it is most certainly a tax on the poor. Those who have the least spend an inordinate percentage of their income every year on lottery tickets (estimates vary from 4-9%). Yet while it is irrational for those in poverty to waste their limited resources on a one in 176 million chance, there is something almost rational in the reasoning for doing so. As The Atlantic’s Derek Thompson points out:
Read more on The Lottery as Aspirational Insurance…

Acton PowerBlog RSS

Google Plus

Twitter Feed

Facebook Fan Page

Support the Acton Institute

The Acton Institute is funded through the generous contributions of individuals such as yourself. Learn more about how you can advance the cause of freedom and virtue.