Poor People Spend 9% of their Income on Dreams

A recent study found that poor folks - households earning under $13,000 per year - spend about 9% of all their income on lottery tickets.

Who out there didn't suspect this? I am not a buyer of lottery tickets. I won't participate in a game of chance when the odds of winning is greater than the odds of being stuck by lightening. The Consumerist has a great story on states preying on the poor.

Here is a quote:

The study neatly illuminates the sad positive feedback loop of lotteries. The games naturally appeal to poor people, which causes them to spend disproportionate amounts of their income on lotteries, which helps keep them poor, which keeps them buying tickets.

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