How to fix the world #4

Photo by wwarby

Stupid Tax: The cost associated with engaging in any form state sanctioned of long odds gambling, i.e. playing the lottery.
Urban Dictionary

Gambling may be a vice, but that has not decreased the allure. It remains one of the most popular forms of entertainment.

Meanwhile, saving is a virtue, but for many, that has not increased the allure. Apparently many people would have trouble getting their hands on $2000 in 30 days if they had an emergency need for the money. This is even true for many more high wage earners than I would guess.

This is two problems to solve. It turns out the solution to both is easy! Create a mashup of the two. Create lottery savings accounts.

The Freakonomics podcast tells us about this great idea and who stands in the way. If you want to fix the world, tell the world about this great idea, and tell the naysayers to stand aside. Click below to play:

Is America Ready for a “No-Lose Lottery”?
The “No-Lose Lottery,” Part 2

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