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New Tenn. congressman wants national lottery

Insider BuzzInsider Buzz: New Tenn. congressman wants national lottery

Tennessee State Senator Steve Cohen, author of the bill creating the Tennessee Lottery, says he may consider working on a bill to create a national lottery to pay off the national debt when he heads to Congress.

"I've considered that," he said. "I know that the state lottery's against it, but I think a national lottery to pay off the national debt would be a good thing. ... Debt is a serious problem. A national lottery could help."

Cohen, a Democrat, was elected to succeed U.S. Rep. Harold Ford Jr. in the 9th District.

Cohen also says he wants to become the first white member of the Congressional Black Caucus.

AP

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20 comments. Last comment 10 years ago by stavros.
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cps10's avatar - Lottery-004.jpg
The Carolinas - Charlotte
United States
Member #21627
September 12, 2005
4138 Posts
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Posted: November 14, 2006, 11:12 am - IP Logged

This guy's lost his mind evidentally. I like the idea of it too...could generate some of the largest jackpots in history, but like he said, the state lotteries and Powerball would NEVER go for it.

The North Carolina Education Lottery - so much a joke that here are their mascots:

Stooges

    guesser's avatar - Lottery-017.jpg

    United States
    Member #41383
    June 16, 2006
    1969 Posts
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    Posted: November 14, 2006, 11:22 am - IP Logged

    What a moron.

    How stupid does he think americans are ?  

    How would a national lottery even begin to lower the trillions of dollars of debt ?

    We are not talking millions or billions here, we are talking trillions, the only way they will lower the debt is by CUTTING spending, and a certain failed operation in the middle east needs to be addressed (I didn't say ended, I said addressed), and supporting illegal immigrants financially is another, those are both a start.

     

    And stop writing contracts for $40 bolts.  I don't know about you folks, but when I go to the hardware store, a bolt is like .08 cents.

    Well, I guess that DOES show how stupid we are..... 

      Avatar
      Amarillo/Austin
      United States
      Member #1424
      April 25, 2003
      696 Posts
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      Posted: November 14, 2006, 12:07 pm - IP Logged

      Frist is from Tennessee, this guy is from Tennessee . . .  Interesting.  They seem to have messing up the lottery on their minds in that state.  Anyone ask if they ma and pa were brother and sister?

      Orangeman

      Love

        bobby623's avatar - abstract
        San Angelo, Texas
        United States
        Member #1097
        January 31, 2003
        1394 Posts
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        Posted: November 14, 2006, 12:18 pm - IP Logged

        This guy has been using 'fuzzy' math, smoke and mirrors, etc, for too long!

        Would be interesting to know what game he has in mind.  I don't know of a current game that would be attractive to  players. Can you imagine a jackpot being divided into couple of hundred parts!!!

        On the other hand - folks in Canada have been playing a 6/49 lottery for a long time. The jackpots are won frequently, and multiple winners doesn't seem to be a deterrent. An increase to $2 per ticket didn't have the negative impact some folks predicted. So, maybe it could work in the USA.

        Don't get me wrong - I'm not for a national lottery. Would just like to know his plan, if he has one.  lol


          United States
          Member #379
          June 5, 2002
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          Posted: November 14, 2006, 12:46 pm - IP Logged

          I probably would be in favor IF Mega Millions and Powerball/MUSL were left intact (the two games remain basically as they are; no merging.) I wonder what type of game(s) he's looking into. Of course, the cash/annuity issue would have to be addressed, as well as payout percentage.

            Todd's avatar - Cylon 2.gif
            Chief Bottle Washer
            New Jersey
            United States
            Member #1
            May 31, 2000
            23273 Posts
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            Posted: November 14, 2006, 2:02 pm - IP Logged

            cps10, guesser, and orangeman:  You guys just made my day!  ROFL

            I Agree! I Agree! I Agree! (One for each of you!)

             

            Check the State Lottery Report Card
            What grade did your lottery earn?

             

            Sign the Petition for True Lottery Drawings
            Help eliminate computerized drawings!

              Avatar
              Delaware
              United States
              Member #30273
              January 14, 2006
              494 Posts
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              Posted: November 14, 2006, 2:34 pm - IP Logged

              Do you think this guy read my survey from a few days ago? Weird.

                Avatar
                Delaware
                United States
                Member #30273
                January 14, 2006
                494 Posts
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                Posted: November 14, 2006, 2:38 pm - IP Logged

                I probably would be in favor IF Mega Millions and Powerball/MUSL were left intact (the two games remain basically as they are; no merging.) I wonder what type of game(s) he's looking into. Of course, the cash/annuity issue would have to be addressed, as well as payout percentage.

                I am guessing that he is considering a replacement to both PB and MM, which I'm not sure I'd be happy with. As for the cash/annuity issue, that is addressed easily by offering both options. What would be interesting, however, is if the annuity could be paid with US Treasury bonds. Then again, if the idea is to pay down national debt, then the last thing you want to do is have an annuity because that would just be adding more debt.

                  cps10's avatar - Lottery-004.jpg
                  The Carolinas - Charlotte
                  United States
                  Member #21627
                  September 12, 2005
                  4138 Posts
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                  Posted: November 14, 2006, 2:54 pm - IP Logged

                  rdc

                  That is true, however, they would be getting all that cash, so whats a few U.S. Treasury STRIPS to make the jackpot even less valuable...it's almost like they are creating another social security system with that type of annuity with Treasury Bonds...who's to say your annuity will last 26 years...ha ha ha

                  The North Carolina Education Lottery - so much a joke that here are their mascots:

                  Stooges

                    weshar75's avatar - Lottery-042.jpg
                    Mcminnville, Oregon
                    United States
                    Member #3013
                    December 13, 2003
                    3052 Posts
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                    Posted: November 14, 2006, 3:13 pm - IP Logged

                    I would play another large jackpot game if it was available to me in Oregon.-weshar75

                      whodeani's avatar - lightening

                      United States
                      Member #2484
                      October 9, 2003
                      212 Posts
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                      Posted: November 14, 2006, 6:13 pm - IP Logged

                      Pay off the national debt....Riiggghhhtttt. It would just be another stash of cash for the politicians to raid to pay for some useless and wasteful government program. That account would be filled with just as many IOUs as the social security fund is.

                        Avatar

                        Honduras
                        Member #20982
                        August 29, 2005
                        4715 Posts
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                        Posted: November 14, 2006, 8:24 pm - IP Logged

                        Anything to pay off the national debt i am in favor of it even if it means picking up trash cans...Where is the love for your country...I am going to propose a similar idea to authorities in my native country...People should be in favor of anything to save their country...And yes, another thing that is going to cut national debt is cutting off spending...A country with no debt is a rich country....I am glad someone mention the idea..Is stuff like this that makes me want to love the lottery...Is time to make the whole country addicted to lottery...But i think for a national lottery to work it will have to be divided in tears and there better be Mass (second tiers winners) i mean massive...A national lottery may not work (50% chance it will work), It will work if there is 5 to 10 second prize winners in each state (provided each second prize pays above 600,000 to 700,000 after taxes and not before taxes)...Is the only way that the national Lottery will grow and lots of people would want to play it....

                        If you set up a pick6, 1-49 it will not work, even if Mega million and PowerB didn't exist....Just to mention that people are going to be tired of other people winning from a different state. YOu have to have in mind that the U.S has 51 states (or whatever number)...It could also work if they were offering 200 million dollars....

                        A National Lottery (even if is to pay off the national debt) works well for small (geographically) countries with small population, but a big country with lots of states and large population like the U.S it will be difficult....And it better cost no more than 2 dollars if you are going to offer 200 million dollars or 1 dollar if you are going to let 5 to 10 winners from each state win 600,000 to 700,000 (the second prize) dollars.....This is the only way i think it will work...Anything for the environment or to pay off the debt i am in favor of it...I wish it work...

                        and if they are going to use the money to pay off the debt they better give the lottery a nicer image and change people's mind about what the lottery is because i feel that people have a negative image about the lottery, as something evil, as gambling, etc...

                          LOTTOMIKE's avatar - cash money.jpg
                          Tennessee
                          United States
                          Member #7853
                          October 15, 2004
                          11338 Posts
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                          Posted: November 15, 2006, 7:02 am - IP Logged

                          cohen alone and by himself worked twenty years to bring a lottery to tennessee.if it weren't for him tennessee would not have a lottery.i hate frist as much as the next guy but i'll vouch for cohen.it might be a lame brain idea but he gets a good grade in my book as far as what i've seen he has been a stand up guy.

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                            Huntsville AL
                            United States
                            Member #16531
                            June 1, 2005
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                            Posted: November 15, 2006, 7:46 am - IP Logged

                            If they where to do it NO federal tax on winnings would be nice.

                             

                            I support the fair tax. It would eliminate all taxes on lottery winnings

                            Learn about the Fair Tax.
                            Visit http://fairtax.org/