posted
OM, I was recently talking to a colleague about the proposed Legion World Lottery. They propose to establish a prize pool from 58% of the revenues of this lottery. 8% will be spent as selling, general & administrative costs while the remaining 34% will be contributed to the Legion World Government General Revenues Pool.
Given that 1) 90% of the revenues for this lottery will come from low income Legion Worlders; 2) the effective marginal tax rate for low-income wage earners on Legion World is 22% and that gambling losses are not deductable from gross income; 3) the exorbitant salary the lottery chairperson will own, Isn't this lottery an onerous tax on probability against the poor people of Legion World, a tax at a rate nearly double the effective marginal rate of taxation of these wage earners to fund the incompetent leadership and line the pockets of their sinecure holding friends?
From: Canada | Registered: Apr 2005
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posted
Why do you bother answering the nonsense they ask, Miner?
-------------------- Truth and Justice shall Prevail! (Just as soon as the Check Clears!)
From: The Back Office in Abin's Fixit Shop. | Registered: Sep 2003
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posted
OM, if Gary Concord, the Ultra Man was a pretty flower, what pretty flower would Gary Concord, the Ultra Man be?
Registered: Dec 2006
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posted
OM, Which question on this thread has been your favorite one so far?
-------------------- Five billion years from now the Sun will go nova and obliterate the Earth. Don't sweat the small stuff!
From: Boston | Registered: Aug 2003
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quote:Originally posted by Tamper Lad: OM, I was recently talking to a colleague about the proposed Legion World Lottery. They propose to establish a prize pool from 58% of the revenues of this lottery. 8% will be spent as selling, general & administrative costs while the remaining 34% will be contributed to the Legion World Government General Revenues Pool.
Given that 1) 90% of the revenues for this lottery will come from low income Legion Worlders; 2) the effective marginal tax rate for low-income wage earners on Legion World is 22% and that gambling losses are not deductable from gross income; 3) the exorbitant salary the lottery chairperson will own, Isn't this lottery an onerous tax on probability against the poor people of Legion World, a tax at a rate nearly double the effective marginal rate of taxation of these wage earners to fund the incompetent leadership and line the pockets of their sinecure holding friends?
As someone who tends to side with the downtrodden, I agree with you that is little more than exploitation of the less fortunate.
As lottery chairman, I say somebody's gotta win, why not you?
posted
If I told you about the scandalous things that happened while I was in the Cannon office building for US representatives today, would you keep it a secret?
By the way, you're not within a 5 mile radius of the Capitol are you?
From: Washington DC | Registered: Oct 2004
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