A National Lottery May Be a Partial Solution To Our Federal Debt Problem
It would be a hidden tax as any legal Lottery is now because Americans like to gamble and would not mind supporting it, especially if programed as provided by the information below.
1. Limit the grand prize (6 number} winners to receive only 10% of the amount available.
2. Pro-rate the balance among holders matching 5, 4, and 3 numbers.
3. Disburse the total amount available each drawing, meaning there would be no carry-over.
This method would produce bigger distributions to winners. Grand prize winners would receive only thousands of dollars instead of millions and would be more apt to spend it, which would help our economic recovery. Ticket sales should increase since more people will receive higher payments from the lower tier payouts. As it now stands winners of multi-millions of dollars seldom spend it all, which does not help the economy.
At the same time our Federal Government would bring in billions of dollars each year to help balance the budget. Approximately 50% of the intake would go towards reducing Federal Government deficit.
There are about 200 million people in the U.S. between ages 18-64 and about 13% of the population is retired. If each person on average spent twenty dollars per drawing, you can do the math to determine the results.
Any comments can be addressed to Louis F. Mlecka at firstname.lastname@example.org