Limits on Lottery Winnings

Friday Jun 12, 2009

This past week a young farmer in South Dakota won $232 million in his state lottery.

The staggering size of the jackpot gives me pause -- if the young man had won $1M wouldn't we be just as pleased for him?

Lotteries have become a part of American culture; more than half the states have one. They bring states tax dollars on a voluntary basis.

There are large expenses to running a lottery: tv, radio, newspaper ads and awarding spots. Merchants who sell tickets get a percentage. There are benefits to the economy and the states. People have the possibility of winning and a few experience the thrill of the big win.

There are downsides, such as those who spend too much of their social security check or simply become addicted to this type of gambling.

In the US, we are beyond the question of whether or not we should have lotteries. But one change I'd endorse would be to put a limit on the amount that can be won.

Look around you in today's tough economic times. Would it not be better to have 232 people win $1M each? Somehow, I would feel better about that.

Category: Miscellaneous

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