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Thread: Random Thought Thread

  1. #56991
    Happy Dancer Array uumlau's Avatar
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    Quote Originally Posted by jscrothers View Post
    I didn't think the difference was that stark

    But I guess with a casino you gotta go there and pull levers and look at cards and think and all of that shit. Hmm... effort/reward...
    Casino's can have the better odds by virtue being entertaining enough that people can gamble away $1000 in an evening and not realize it until too late. Think in terms of craps, or blackjack. In craps, the odds are VERY close to even, so while most people lose, there are plenty of winners to make others think it's a fun game, and makes them play it a lot. Blackjack is similar, in that if you keep track of the cards, the odds are in your favor. (The casino's look out for card counters and kick them out.)

    The lottery can appear more virtuous because even though the odds are awful, you're only laying down $1 or $10 or whatever you can spare at the time, not $1000.
    An argument is two people sharing their ignorance.

    A discussion is two people sharing their understanding, even when they disagree.

  2. #56992
    Superwoman Array Red Herring's Avatar
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    Quote Originally Posted by uumlau View Post

    The lottery can appear more virtuous because even though the odds are awful, you're only laying down $1 or $10 or whatever you can spare at the time, not $1000.
    Well ,at least in this part of the world by law a large chunk of lottery profits must go to charity. Lotteries are almost exclusively state controlled over here and the money goes to social projects for disabled children and such.That's kind of a factor.
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  3. #56993
    Happy Dancer Array uumlau's Avatar
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    Quote Originally Posted by Red Herring View Post
    Well ,at least in this part of the world by law a large chunk of lottery profits must go to charity. Lotteries are almost exclusively state controlled over here and the money goes to social projects for disabled children and such.That's kind of a factor.
    The Texas lottery was sold to voters on the basis that the money would go to education and pay for teachers. That was never true, it goes into the general fund, some of which goes to pay for teachers and education.

    Politicians always say that money is earmarked for this or that, but it's never true. Money is fungible. For instance, let us assume that the Texas lottery money went 100% to education: then that leaves plenty of money in the general fund for other things. Where the money comes from has nothing to do with how it is spent. Nothing.

    But yes, that does add a moral veneer to the lottery, however dishonest.
    An argument is two people sharing their ignorance.

    A discussion is two people sharing their understanding, even when they disagree.

  4. #56994
    waiting for Winterman Array Osprey's Avatar
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    Quote Originally Posted by uumlau View Post
    The Texas lottery was sold to voters on the basis that the money would go to education and pay for teachers. That was never true, it goes into the general fund, some of which goes to pay for teachers and education.

    Politicians always say that money is earmarked for this or that, but it's never true. Money is fungible. For instance, let us assume that the Texas lottery money went 100% to education: then that leaves plenty of money in the general fund for other things. Where the money comes from has nothing to do with how it is spent. Nothing.
    Er, if 100% of it went to education, how does that leave plenty of room in the general fund for other things? Doesn't the fact that 100% goes to education mean that 100% goes to education? Or does money in the general fund come from other sources?
    Winterman is coming through the forest down to his Chrimbus cave inside the woods. Now's the time to tell him everything you want inside your Chrimbus bush!

  5. #56995
    Happy Dancer Array uumlau's Avatar
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    Quote Originally Posted by Vulcan View Post
    Er, if 100% of it went to education, how does that leave plenty of room in the general fund for other things? Doesn't the fact that 100% goes to education mean that 100% goes to education? Or does money in the general fund come from other sources?
    OK, let's assume that we have a general fund, and 20% of the money goes to education, and 80% to other stuff (highways, medicare funding, etc.).

    Now we get a lottery. It is legislated that 100% of lottery money "goes to education". For easy math sake, let's assume that the lottery money is enough to pay for HALF of the education budget, and that total original general fund was 100 billion dollars, the education funding was 20 billion, the other stuff was 80 billion, and the new lottery revenues are 10 billion.

    So now we have a total of 110 billion coming in, 10 billion of which is slated for education.

    Education funding does NOT go up to 30 billion. What would they spend it on? It's already fully funded at 20 billion. Maybe there's room for a 5-10% increase, but not a 50% increase. Instead, education funding stays at or close to 20 billion, and that 10 billion from the lottery really goes to fund "other stuff".

    See, it's possible to say, "Education used to be fully funded from the general fund, but now it's 50% funded from the lottery," without actually increasing any spending on education at all. That frees up 10 billion that WAS going into education for spending on "other stuff".

    The word that describes money working this way is "fungible":


    fun·gi·ble
    ˈfənjəbəl/
    adjective LAW

    adjective: fungible

    • (of goods contracted for without an individual specimen being specified) able to replace or be replaced by another identical item; mutually interchangeable.
      "money is fungible—money that is raised for one purpose can easily be used for another"




    An argument is two people sharing their ignorance.

    A discussion is two people sharing their understanding, even when they disagree.

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    Fantasticality. Array Forever's Avatar
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    Hmm so I finished my first official o chem test not too long ago. Took a while but when I got out, I felt so relieved.

    Oh and @Vulcan, I had Jimmy John's for a sandwich last night.
    (Bread was kind of flat and pressed down so my jaw was kinda sore..) Idk if that's how JJ's just is.

    I think my intuitive powers are developing to detect emotion, intent, and sarcasm through text. This is beautiful.
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    Connelly: "It's uncomfortable to talk about - there's no way to come off right! If you say you are beautiful, you sound obnoxious, and if you deny it, doesn't that sound obnoxious?"

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    Love, love, love

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    Fantasticality. Array Forever's Avatar
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    In case anyone hasn't noticed,
    I tend to use font, color, and size more often when I write serious posts, so be sure to look out for that.
    ~Forever~
    [Interviewer: "What was it like to be defined by being beautiful?"]
    Connelly: "It's uncomfortable to talk about - there's no way to come off right! If you say you are beautiful, you sound obnoxious, and if you deny it, doesn't that sound obnoxious?"

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    Senior Member Array Rico's Avatar
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    Quote Originally Posted by Forever View Post
    In case anyone hasn't noticed,
    I tend to use font, color, and size more often when I write serious posts, so be sure to look out for that.
    ~Forever~
    Hey Bud, let's have a convo.

    We haven't had one in a while.

    How's life?

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    waiting for Winterman Array Osprey's Avatar
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    Quote Originally Posted by 21lux View Post
    I'm having a good day today. I wish every day could feel like today.
    Me too. I apologize for getting more up in your face before. I misjudged you. I'm not perfect either, after all.
    Winterman is coming through the forest down to his Chrimbus cave inside the woods. Now's the time to tell him everything you want inside your Chrimbus bush!

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