The Lottery As A Retirement Savings Vehicle
A recent survey conducted by Opinion Research Corporation for the Consumer Federation of America and the Financial Planning Association, reported in a recent MarketWatch article, that 21 percent of the respondents believe the lottery is a practical way to save for retirement.
In addition to the long odds of winning, the Tax Foundation, in FISCAL FACTS, their on-line publication, asserts that contrary to many people’s beliefs—and to state governments’ claims—the money that states raise from lotteries is tax revenue; and that lotteries explify poor tax policy.