Quote:
Originally posted by Cynthetiq
extra taxation on the poor and stupid.
I know people who have played the lottery for close to 20 years @ US$5/ week... which over that time compounded interest would be closer to that US$1 million payout than they are today.
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The problem is you don't earn compound interest on investments. Even if you were able to earn a consistent rate of 10 percent over 20 years (which is next to impossible), you would only earn a little more than 18,000 if you bought $25 each month for 20 years. Based on the opportunity for return, the risk is extremely low, depending on your means.
Now if you're spending food money on lottery tickets...
Then you're just an idiot. That's not the lottery's fault.