Arkansas Blog

Argh. And to think I voted for this grandstander. Well, not really.... I really voted against Wooldridge and Holt. But more of this from Halter and I'll be voting against him next time.

Arkansas Faith & Ethics Council?

He's "executive director" of BOTH of those?

Well, as President of the Arkansas Coalition for Indecency and Dubiosity, how come I wasn't invited to appear in the video? I demand equal time!

For a guy that has a background in economics, I've got to wonder what he's thinking. Has he not studied the law of "diminishing returns"?
You can setup the lottery, and charge a dollar ticket. Project income, but guess what? Next year it'll cost more to print the tickets, your employees will need a raise, utilities will go up, healthcare expenses will rise and you still can't charge more than a dollar a ticket. The lottery revenue levels off, as they will, but the cost of having a lottery will only increase. Diminshing returns are historically a huge factor in a product that has a fixed price. Unless Halter expects to cover the increased costs of a lottery by charging a 1.25 in a couple of years - that'd go over like a turd in a punch bowl, then he can raise it to 1.50 - in four or five years...not likely. I know, other states do it and bring in the dough, but it's diminishing and if Arkansas thinks it's a good idea, then we better damn well put a end date to it, to be extended after an extensive and independent audit. Most lotteries in the states I've lived in have become a haven for poltical favors and appointees with little oversight and a true accounting of the profitablity of the venture.

i doubt that has been a sin that i have not voted for because people are going to do them. they might as well as be provided and somewhat controlled. i would be in favor of bringing on a few of the more fun sins and collecting taxes on them. you can guess which ones are in my little head.

I don't think a lottery is a sin.
It's just stupid. It also
underminds the work ethic.
Of course, one could argue
the stock market does the
same thing. After all,
wallstreet is the largest
gambling operation in the
world.

I read where one state's
lottery only made 30 cents
on the dollar. Imagine if only
30% of our sales, and income taxes went to the state.

The first and most sure bet in the lottery issue is that Jerry Cox and the Family Council will make this into the fundraising event of the decade. Larry Page is the credible spokesman and his organizationn has the history on this issue to be the lead spokesman. Hide and watch - the Family Council will be bilking their koolaid drinkers to pad the bank account. You can take that to the bank!

Larry Page is the credible spokesman and his organization has the history on this issue to be the lead spokesman. . . the Family Council will be bilking their koolaid drinkers to pad the bank account. - Posted by: ItsWorseThanYouThink
********
IWTYT:
You are right - Larry Page is a very credible spokesman and I expect he will lead opposition to this issue.

Interesting that you consider fundraising by your opponent (I assume) to be "bilking" - if he was supporting your viewpoint, would you still consider it bilking?

I like Larry Page and I frequently financially support the Family Council. However, I am coming to the conclusion that the lottery vice is so ingrained in our culture that it is going to happen here sooner or later. So, I will probably capitulate and support the lottery to try to keep the money in our state - provided the proposal has some semblance of fairness in funding a community purpose . . . and the proceeds are not totally raped and ravaged by Oaklawn-type organizer/parasites.

Now if I could just get rid of this sense that I am selling out . . .

Don's back! Don's back! Gitmo didn't git him!

Let us have a lottery and no sales tax on groceries and our troops home by Thanksgiving and Bush-Cheney behind bars and free beer for all over the age of 21!

Lottery. . .
No Sales Tax . . .
Troops home . . .
Behind bars . . .
Free beer . . .

I guess this shows we can agree as much as 80% of the time . . .

Of course, one could argue
the stock market does the
same thing. After all,
wallstreet is the largest
gambling operation in the
world. Posted by: The Bold and The Blue
********
I disagree with your analogy.

The lottery is theoretically based on pure chance. When you invest, you don't own anything except a chance to win. Everyone expects to lose, and they do lose their total investment - except the infinitesimally small number that win.

However, the stock market can be studied and, to a limited extent, predicted. When you invest, you actually own a piece of something that has value. A few investors win big, a high percentage do OK, some lose a bit and then a small minority, like me, emotionally invest in stocks like Krispy Kreme and then call the following free-fall disaster a tax-saving strategy.

If Wall Street is a gamble, then so is driving a car. . . or slurping down a couple of frozen margaritas with your chips and salsa . . . or both . . .