The Huffington Post listed the top 10 states that made a profit from sin tax.
W.Va. was ranked # 4.
Nevada was ranked # 1.
I've often heard that the lotto is a tax for the poor. In example, our state, West Virginia makes a lot of money from people who play the lotto. This money goes to pay for things like: education, parks and recreation, senior citizens, and other state benefits. People who are poor pay for these services by buying lotto tickets in hopes that they will win big. Most people do not win big. They pay big money by buying lotto tickets.
A person could save a lot of money if the quit buying lotto tickets and saved their money and then invested the total savings at the end of the year in a CD. Imagine if you did that with the 100s you spent on lotto tickets back in the 80s. That would be a lot of money today!
Read the article about W.Va. being ranked # 4.
http://www.huffingtonpost.com/2013/08/17/sin-states_n_3773593.html
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