Episode 233: Disincentivizing Taxes
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Introduction
Last week, a Canadian Ann Hickey picked up a check for $165,000 from the Ontario Gaming Commission. Miss Hickey's win got me thinking about differences between lotteries and saving. Let's take a hypothetical 18 year old who plays Ontario's Lotto Max,. The odds of winning are so low that even having played almost 20,000 times, the probability that our hypothetical person will win at least once is only four tenths of 1%.
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