If you have depression, you are probably being undertreated or overtreated.
Man wins $1,000 in lottery; government cuts his Social Security income by $980.
Americans spend about $3.6 billion on [mostly worthless] over-the-counter cold, cough and throat remedies — and millions more on antibiotics that have no effect on viral infections.
Neal Wanless, a 23-year-old, down-on-his-luck rancher, won a $232.1 million Power lottery jackpot last week. Yet you are unlikely to see editorial outrage at the New York Times, Vanity Fair, Slate or in any of the columns of writers who routinely bash capitalism for its excesses. But why not? Of all the complaints ever made against capitalism – from Karl Marx to the present day – there is one area of life where the complaints ring true: the lottery. Consider:
So why is the left so blithely acceptant not just of lotteries, but of state-created-monopoly-lotteries? Why do columnists who become apoplectic about the salaries of CEOs ignore those whose riches are the result of random chance? Why are lotteries such a popular source of revenue among Democrat politicians? I report. You decide.
On Christmas Day 2002, Jack Whittaker won the lottery. He won big. At $315 million, he held the largest single winning ticket in the history of American lotteries.
Where did all that money come from? It came disproportionately from people on the bottom end of the income ladder – people who might otherwise have paid the rent, clothed their children or put food on the table for their families. (Whittaker, by the way, is an exception to the general rule; he was already worth $1 million before he bought his lucky ticket.)
As a result, that fateful Christmas Day will be remembered for achieving yet another milestone: An act of government that created more inequality per dollar spent in the shortest amount of time in all of human history. Continue reading »