Now that we're all hooked on state-sponsored gambling...
Let's turn the state gambling operations over to private corporations, each of whom will be granted a monopoly!
| Posted at 7:30 AM | Permalink |
|
About
This page contains a single entry from the blog posted on January 23, 2007 7:30 AM.
The previous post in this blog was $57 million vistas.
The next post in this blog is Water, water everywhere.
Many more can be found on the main index page or by looking through the archives.
Comments (6)
This baffles me. The whole point of a state lottery is to provide a revenue stream. If they sell, er, lease it out... they kill the golden goose.
Some of these politicians have such amazing short-term thinking.
Posted by Kari Chisholm | January 23, 2007 9:36 AM
Maybe someone made an offer they couldn't refuse.
Posted by tom | January 23, 2007 9:40 AM
This baffles me. The whole point of a state lottery is to provide a revenue stream. If they sell, er, lease it out... they kill the golden goose.
This baffles me. I thought it was the eggs that were golden.
Ahhhh, progressives.
Posted by rr | January 23, 2007 1:53 PM
How about this for the next catchy lottery
slogan.
The Oregon Lottery--- keeping embezzled funds working in Oregon.
Posted by Fred | January 23, 2007 1:56 PM
Illinois is seeking bids to privatize their lottery. NPR reported this morning that Indiana is doing likewise. Sounds like a lot of money out there chasing some short-term thinking.
Posted by John Rettig | January 23, 2007 6:00 PM
"This baffles me."
Simple. They're taking the lump-sum payout. On a bike trip a couple of years ago I rode with a guy who said he was an investment banker. On closer questioning it developed that he was a partner in a firm whose only "banking" activity was to acquire payment streams from state lottery winners. There were some interesting tax and legal wrinkles, but in short it appears that many winners have the same time horizon as the State of Illinois.
Posted by Allan L. | January 23, 2007 6:53 PM