Should you have the option

Should you have the option to pay annual taxes by purchasing lotto tickets? Or perhaps other taxes as well.

The state calculates its theoretical payment just like play is rated in a casino. Once you've spent enough to meet the theoretical return, you're paid up, whether you won big or lost.

NO COMMENTS ON POLITICS OF HAVING TAXES OR THREAD WILL LIKELY VIOLATE RULES AND BE CLOSED.

When rich people keep winning it will soon become a politically unpalatable option.

Quote: unJon

When rich people keep winning it will soon become a politically unpalatable option.
link to original post

A voluntary tax on people good at math?

Quote: rxwine

Should you have the option to pay annual taxes by purchasing lotto tickets? Or perhaps other taxes as well.

The state calculates its theoretical payment just like play is rated in a casino. Once you've spent enough to meet the theoretical return, you're paid up, whether you won big or lost.

link to original post

I don't get it
why would anyone want to do this_______?
lotteries - all that I know of - have a crushing vig and there is no way to beat them
or if there are ways to beat them they are few and far between and carry a great risk due to sky high variance


.

You just have to keep track of your losses up to your wins. Wins, HAAAA!

Quote: lilredrooster

Quote: rxwine

Should you have the option to pay annual taxes by purchasing lotto tickets? Or perhaps other taxes as well.

The state calculates its theoretical payment just like play is rated in a casino. Once you've spent enough to meet the theoretical return, you're paid up, whether you won big or lost.

link to original post

I don't get it
why would anyone want to do this_______?
lotteries - all that I know of - have a crushing vig and there is no way to beat them
or if there are ways to beat them they are few and far between and carry a great risk due to sky high variance


.
link to original post

Huh? You don't just win the big prize or nothing, (unless you make that specific play) You have a chance to make some money back or even a lot of money back. Without hitting the big prize you could still come out ahead by hitting some of the smaller numbers combinations

Quote: rxwine

Quote: lilredrooster

Quote: rxwine

Should you have the option to pay annual taxes by purchasing lotto tickets? Or perhaps other taxes as well.

The state calculates its theoretical payment just like play is rated in a casino. Once you've spent enough to meet the theoretical return, you're paid up, whether you won big or lost.

link to original post

I don't get it
why would anyone want to do this_______?
lotteries - all that I know of - have a crushing vig and there is no way to beat them
or if there are ways to beat them they are few and far between and carry a great risk due to sky high variance


.
link to original post

Huh? You don't just win the big prize or nothing, (unless you make that specific play) You have a chance to make some money back or even a lot of money back. Without hitting the big prize you could still come out ahead by hitting some of the smaller numbers combinations
link to original post

I still don't get it.
if assuming if the lottery has a vig of 30% then you would have to play until the amount of vig you have paid pays your tax bill
so what was gained - comparing it to a person who just paid his tax bill and didn't play the lottery
if the 30% accumulated vig pays your tax bill of $2,000 - then the rest of your action is break even - except it's high risk - super high variance

.

Some of you might be interested in this.



I liked it.

Quote: lilredrooster

Quote: rxwine

Quote: lilredrooster

Quote: rxwine

Should you have the option to pay annual taxes by purchasing lotto tickets? Or perhaps other taxes as well.

The state calculates its theoretical payment just like play is rated in a casino. Once you've spent enough to meet the theoretical return, you're paid up, whether you won big or lost.

link to original post

I don't get it
why would anyone want to do this_______?
lotteries - all that I know of - have a crushing vig and there is no way to beat them
or if there are ways to beat them they are few and far between and carry a great risk due to sky high variance


.
link to original post

Huh? You don't just win the big prize or nothing, (unless you make that specific play) You have a chance to make some money back or even a lot of money back. Without hitting the big prize you could still come out ahead by hitting some of the smaller numbers combinations
link to original post

I still don't get it.
if assuming if the lottery has a vig of 30% then you would have to play until the amount of vig you have paid pays your tax bill
so what was gained - comparing it to a person who just paid his tax bill and didn't play the lottery
if the 30% accumulated vig pays your tax bill of $2,000 - then the rest of your action is break even - except it's high risk - super high variance

.
link to original post

Is your argument that people shouldn’t do it. If so, there’s a whole bunch of things people shouldn’t do, but they do anyway. Even after being told the same thing over and over.

Quote: rxwine

Should you have the option to pay annual taxes by purchasing lotto tickets? Or perhaps other taxes as well.

The state calculates its theoretical payment just like play is rated in a casino. Once you've spent enough to meet the theoretical return, you're paid up, whether you won big or lost.

NO COMMENTS ON POLITICS OF HAVING TAXES OR THREAD WILL LIKELY VIOLATE RULES AND BE CLOSED.
link to original post

An interesting idea. In the 1700s, lotteries were widely used to raise funds. The Great Wall of China was built with Keno.

Cost wise would it work? Lets use daily numbers to keep it more simple than "lotto" games of various types. They all have a 50% house edge. The bookies used to pay 600-1 but it was customary to "tip" the bookie 100 of that. So I have a $1,000 tax bill and I have to play $2,000 in numbers games. The first thing that will happen is anyone who knows math will bet all possible combinations to even out their cost. Keeping the same $2,000 bill and I play all combos of the daily three digit I buy $1,000 tickets at $2 each, wait for 7:00 drawing, then fish thru all those tickets for a winner.

The loser is the programs the lottery pays the way for.

So it would work but it would not work.

That lowball type game would simply be excluded.

Quote: rxwine

Quote: lilredrooster

Quote: rxwine

Quote: lilredrooster

Quote: rxwine

Should you have the option to pay annual taxes by purchasing lotto tickets? Or perhaps other taxes as well.

The state calculates its theoretical payment just like play is rated in a casino. Once you've spent enough to meet the theoretical return, you're paid up, whether you won big or lost.

link to original post

I don't get it
why would anyone want to do this_______?
lotteries - all that I know of - have a crushing vig and there is no way to beat them
or if there are ways to beat them they are few and far between and carry a great risk due to sky high variance


.
link to original post

Huh? You don't just win the big prize or nothing, (unless you make that specific play) You have a chance to make some money back or even a lot of money back. Without hitting the big prize you could still come out ahead by hitting some of the smaller numbers combinations
link to original post

I still don't get it.
if assuming if the lottery has a vig of 30% then you would have to play until the amount of vig you have paid pays your tax bill
so what was gained - comparing it to a person who just paid his tax bill and didn't play the lottery
if the 30% accumulated vig pays your tax bill of $2,000 - then the rest of your action is break even - except it's high risk - super high variance

.
link to original post

Is your argument that people shouldn’t do it. If so, there’s a whole bunch of things people shouldn’t do, but they do anyway. Even after being told the same thing over and over.

link to original post

no, people can do what they want to do - me posting on forums is not going to change their behavior

I thought you were suggesting it was a good deal for the taxpayer - if that's not what you meant I apologize

a taxpayer would have to bet about $6,660 at 30% vig to pay a $2K tax bill

instead he could make common spread sports bets at 4.55% HA - if he bets $6,600 he would on average lose only about $303 dollars assuming he had no edge

he could then pay his $2K tax bill and have about $1,697 more dollars than if he paid off his tax bill with lottery bets


.

Quote: lilredrooster

Quote: rxwine

Quote: lilredrooster

Quote: rxwine

Quote: lilredrooster

Quote: rxwine

Should you have the option to pay annual taxes by purchasing lotto tickets? Or perhaps other taxes as well.

The state calculates its theoretical payment just like play is rated in a casino. Once you've spent enough to meet the theoretical return, you're paid up, whether you won big or lost.

link to original post

I don't get it
why would anyone want to do this_______?
lotteries - all that I know of - have a crushing vig and there is no way to beat them
or if there are ways to beat them they are few and far between and carry a great risk due to sky high variance


.
link to original post

Huh? You don't just win the big prize or nothing, (unless you make that specific play) You have a chance to make some money back or even a lot of money back. Without hitting the big prize you could still come out ahead by hitting some of the smaller numbers combinations
link to original post

I still don't get it.
if assuming if the lottery has a vig of 30% then you would have to play until the amount of vig you have paid pays your tax bill
so what was gained - comparing it to a person who just paid his tax bill and didn't play the lottery
if the 30% accumulated vig pays your tax bill of $2,000 - then the rest of your action is break even - except it's high risk - super high variance

.
link to original post

Is your argument that people shouldn’t do it. If so, there’s a whole bunch of things people shouldn’t do, but they do anyway. Even after being told the same thing over and over.

link to original post

no, people can do what they want to do - me posting on forums is not going to change their behavior

I thought you were suggesting it was a good deal for the taxpayer - if that's not what you meant I apologize

a taxpayer would have to bet about $6,660 at 30% vig to pay a $2K tax bill

instead he could make common spread sports bets at 4.55% HA - if he bets $6,600 he would on average lose only about $303 dollars assuming he had no edge

he could then pay his $2K tax bill and have about $1,697 more dollars than if he paid off his tax bill with lottery bets


.
link to original post

Yes you have the idea. Now when you consider people who are going to be playing the lottery anyway regardless of the disadvantage, you have built-in clientele.

Quote: lilredrooster

I still don't get it.
if assuming if the lottery has a vig of 30% then you would have to play until the amount of vig you have paid pays your tax bill
so what was gained - comparing it to a person who just paid his tax bill and didn't play the lottery
if the 30% accumulated vig pays your tax bill of $2,000 - then the rest of your action is break even - except it's high risk - super high variance

.
link to original post

Surely you wouldn't expect a comp of 100% of theo.

__________________


the politicans have already turned the taxpayers into pathetic suckers paying for all kinds of worthless crap

and now they're going to advertise that they can pay off their tax bills by playing the lottery_____________________???

it's just too too much - we're straying into weird and wild territory now


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