Not A Lotto Money
04/05/2012 | | Jackpots, Lottery, Lottery revenues, Lottery Winnings, Regressive Lotteries, Regressivity, State Budget Revenues, state budgets
While income tax and sales tax revenues declined 10% in the past recession, regressive lotto sales fell just 2%, making them recession resistant. New research shows that as jackpots grow, lotteries become less regressive as more upper income households are lured by wild wealth. As for budgets, in NV gaming revenues are 12% of the budget, but in most big states lotto revenue rarely exceeds 3% of the budget.