Two hosts argue the lottery is a regressive tax on people who can't afford it. Speaker B's neighborhood pooled thousands for tickets chasing a multi-billion-dollar jackpot and lost, while over 90% of lottery revenue comes from people who can't afford to lose it. A concrete financial plan beats false hope.
Chapters
Things happen in life. It's what you deal with it to get out of it. And if you have a solid plan moving forward where, all right, I got this plan and in 12 months I'm going to be debt-free because I'm able to pay this, I'm going to get a bonus here, I'm going to do this. Great. You have a plan. You shouldn't be as stressed because you have the plan. But if you're sitting there, you know, playing for the billion-dollar lottery, you're just going deeper in the hole because you're not going to win that lottery. Talk about lottery, please. It's a scam.
Because people— I, I remember I was probably about 10, maybe 11. My dad— I think the jackpot was like $2 billion. The entire neighborhood got together, put like thousands of dollars into a pot, and went and bought a bunch of numbers. And they said, if we win, we're all gonna— and I saw them reading pages and pages and pages and pages. They didn't win shit. They didn't even get 2 Numbers. I said, what do y'all think? And I knew at that age, I was like, where do you think they're getting the money to pay y'all?
And did they, did they have the money to give?
No, we were eating free lunch. We went to food pantries.
See, that's, that's it. Over 90% of the money that goes into the lottery are from people that cannot afford to lose that money. Rich people don't play the lottery.
No.
So it's really there, two things. It's another tax. It's a tax, and unfortunately it's a tax on people that can't afford to be taxed, and it's there to provide false hope.
