Comments on: The Spending Habits of The Poor *UPDATED* http://weakonomics.com/2010/06/09/the-spending-habits-of-the-poor/ Everything That's Wrong With You And Your Money Wed, 23 May 2012 01:09:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jack Coe http://weakonomics.com/2010/06/09/the-spending-habits-of-the-poor/comment-page-1/#comment-6005 Jack Coe Fri, 10 Feb 2012 20:31:00 +0000 http://weakonomics.com/?p=4383#comment-6005  You might feel a "little more desperate", if you were in poverty. However, I'm willing to bet dollars to donuts that on average you'd also be a little dumber. :)  You might feel a “little more desperate”, if you were in poverty. However, I’m willing to bet dollars to donuts that on average you’d also be a little dumber. :)

]]> By: Jack Coe http://weakonomics.com/2010/06/09/the-spending-habits-of-the-poor/comment-page-1/#comment-6004 Jack Coe Fri, 10 Feb 2012 20:29:00 +0000 http://weakonomics.com/?p=4383#comment-6004 FYI, "irregardless" is not a word, as it contains a double negative: ir- and -less. Correct grammar is to write, "regardless". http://dictionary.reference.com/browse/irregardless FYI, “irregardless” is not a word, as it contains a double negative: ir- and -less. Correct grammar is to write, “regardless”.
http://dictionary.reference.com/browse/irregardless

]]> By: The Head Hunter http://weakonomics.com/2010/06/09/the-spending-habits-of-the-poor/comment-page-1/#comment-4209 The Head Hunter Wed, 09 Jun 2010 21:03:32 +0000 http://weakonomics.com/?p=4383#comment-4209 Curmudgeon already signed off on this subject, it's a good read: http://badmoneyadvice.com/2010/06/a-tax-on-people-who-cant-do-math.html Curmudgeon already signed off on this subject, it’s a good read:

http://badmoneyadvice.com/2010/06/a-tax-on-people-who-cant-do-math.html

]]> By: Robert Muir http://weakonomics.com/2010/06/09/the-spending-habits-of-the-poor/comment-page-1/#comment-4208 Robert Muir Wed, 09 Jun 2010 19:27:44 +0000 http://weakonomics.com/?p=4383#comment-4208 Lotteries are taxes on the poor and ignorant, pure and simple. Some years ago, Rush Limbaugh ran an April 1st show promoting taxing the poor. He received quite a few bashing phone calls (which he of course expected) from people who didn't get that it was April fools day. Isn't it ironic that state legislatures from both parties are all for taxing the poor in real life. Lotteries are taxes on the poor and ignorant, pure and simple.

Some years ago, Rush Limbaugh ran an April 1st show promoting taxing the poor. He received quite a few bashing phone calls (which he of course expected) from people who didn’t get that it was April fools day. Isn’t it ironic that state legislatures from both parties are all for taxing the poor in real life.

]]> By: Hu Man http://weakonomics.com/2010/06/09/the-spending-habits-of-the-poor/comment-page-1/#comment-4207 Hu Man Wed, 09 Jun 2010 19:06:39 +0000 http://weakonomics.com/?p=4383#comment-4207 Common, you have BMA in your blogroll. He wrote about how this 9% is extremely questionable. I'm not saying that lower income people spend less on the lottery than people who are wealthier. I think it is best to talk about real numbers. Common, you have BMA in your blogroll. He wrote about how this 9% is extremely questionable. I’m not saying that lower income people spend less on the lottery than people who are wealthier. I think it is best to talk about real numbers.

]]> By: Lindsay http://weakonomics.com/2010/06/09/the-spending-habits-of-the-poor/comment-page-1/#comment-4205 Lindsay Wed, 09 Jun 2010 18:13:03 +0000 http://weakonomics.com/?p=4383#comment-4205 $1000 is more than *I* would feel comfortable spending on lottery tickets each year. However, I'm also financially comfortable making well over poverty level. If I was in poverty, I might feel a little more desperate. If you make less than $13,000 per year, there are other ways to get out of your income bracket besides buying $1000 in lottery tickets every year. But do they cost more than $1000 per year? How much time investment is needed? Do you have that kind of time? Just presenting a devil's advocate argument. EDIT: Oh, also people in poverty may be less likely than someone in a higher income to be educated or understand probabilities and odds. And in such desperately poor income level, I think there may be a higher level of mental illness as well (this is why most homeless people are homeless.. they are incapable of functioning productively in society), so you may be more likely to find magical and superstitious thinking in this income bracket. $1000 is more than *I* would feel comfortable spending on lottery tickets each year. However, I’m also financially comfortable making well over poverty level. If I was in poverty, I might feel a little more desperate. If you make less than $13,000 per year, there are other ways to get out of your income bracket besides buying $1000 in lottery tickets every year. But do they cost more than $1000 per year? How much time investment is needed? Do you have that kind of time? Just presenting a devil’s advocate argument.

EDIT: Oh, also people in poverty may be less likely than someone in a higher income to be educated or understand probabilities and odds. And in such desperately poor income level, I think there may be a higher level of mental illness as well (this is why most homeless people are homeless.. they are incapable of functioning productively in society), so you may be more likely to find magical and superstitious thinking in this income bracket.

]]> By: Mark Wolfinger http://weakonomics.com/2010/06/09/the-spending-habits-of-the-poor/comment-page-1/#comment-4204 Mark Wolfinger Wed, 09 Jun 2010 17:28:18 +0000 http://weakonomics.com/?p=4383#comment-4204 Sure people get to make their own decisions. But it should be everyone's responsibility to help them make informed decisions. instead, we have businesses built on legal scamming and taking advantage of the ignorant. Sure people get to make their own decisions. But it should be everyone’s responsibility to help them make informed decisions.

instead, we have businesses built on legal scamming and taking advantage of the ignorant.

]]> By: Ace @ aceofwealth.com http://weakonomics.com/2010/06/09/the-spending-habits-of-the-poor/comment-page-1/#comment-4202 Ace @ aceofwealth.com Wed, 09 Jun 2010 16:08:46 +0000 http://weakonomics.com/?p=4383#comment-4202 What a disturbing statistic! I wonder if the hope of improving their financial situation completely outweighs the odds behind the lottery tickets. .-= Ace @ aceofwealth.com´s last blog ..<a href="http://feedproxy.google.com/~r/aceofwealth/~3/r1abB1rZcVA/" rel="nofollow">My Comcast journey and 6 tips to save money on cable</a> =-. What a disturbing statistic! I wonder if the hope of improving their financial situation completely outweighs the odds behind the lottery tickets.
.-= Ace @ aceofwealth.com´s last blog ..My Comcast journey and 6 tips to save money on cable =-.

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