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Tax on Kentucky Lottery tickets no longer being considered

Kentucky LotteryKentucky Lottery: Tax on Kentucky Lottery tickets no longer being considered
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FRANKFORT, Ky. — Kentucky lawmakers won't pursue a 6% tax on lottery tickets as a source of revenue to shore up the state's financially troubled pension system for government retirees.

House Speaker Greg Stumbo said that idea was rejected out of concern that a tax might have stifled sales of lottery tickets that generate money for education programs in Kentucky.

Instead, Stumbo said lawmakers will unveil legislation on Tuesday that will call for the lottery to create new games, including Keno, that could generate about $25 million for the pension system.  He said the legislation would also call for tax revenue from slot-like machines, called Instant Racing machines, at horse tracks to be designated for pensions.

He said that could eventually net $100 million a year for pensions, if the Supreme Court approves.

AP, Lottery Post Staff

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16 comments. Last comment 4 years ago by helpmewin.
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United States
Member #128373
May 22, 2012
201 Posts
Offline
Posted: February 26, 2013, 1:22 pm - IP Logged

Good call, Kentucky.

The lottery is NOT a tax on the poor.  By calling it a tax, you are calling it mandatory, which is what taxes are.  But the lottery is NOT mandatory, therefore calling it a tax highly inaccurate.

    noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
    Bay Area - California
    United States
    Member #136477
    December 12, 2012
    4102 Posts
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    Posted: February 26, 2013, 1:30 pm - IP Logged

    Speaker Stumbo-stumbled but recovered to save face. I look forward to reading Stumbo do a mea culpa and say " Lottery Post readers  took my proposal to the woodshed".
    Good Call Speaker.

      Astekblue's avatar - Tarlor
      Kentucky
      United States
      Member #35086
      March 12, 2006
      10374 Posts
      Offline
      Posted: February 26, 2013, 1:58 pm - IP Logged

      About  time  they   got   something   right

       

      Maybe they are not educated  beyond   their    intelligence  after  all    (  at   least  on  this  one ) 

       

       

      Thanks  for  the  info   and   news    Todd

        dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
        Oklahoma
        United States
        Member #82391
        November 12, 2009
        6290 Posts
        Offline
        Posted: February 26, 2013, 2:36 pm - IP Logged

        WTG Kentuckians Thumbs Up

        I Love Pink & Green 1908

          sully16's avatar - sharan
          Ringleader
          Michigan
          United States
          Member #81740
          October 28, 2009
          40293 Posts
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          Posted: February 26, 2013, 2:37 pm - IP Logged

          They seen the light.

          Did you exchange a walk on part in the war ?

          For a lead role in a cage?

           

                                                      From Pink Floyd's " Wish you were here"

            rdgrnr's avatar - walt
            Way back up in them dadgum hills, son!
            United States
            Member #73904
            April 28, 2009
            14903 Posts
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            Posted: February 26, 2013, 3:10 pm - IP Logged

            I knowed that wadn't goin' through.

            I knowed it.


                                                         
                                 
                                                     

             

             

             

             

                                                                                                               

            "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                        --Edmund Burke

             

             

              jeffrey's avatar - moon
              Hamilton, OH
              United States
              Member #4162
              March 27, 2004
              277 Posts
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              Posted: February 26, 2013, 3:21 pm - IP Logged

              don't worry, they'll find a way to steal money for the pension fund.


                United States
                Member #116268
                September 7, 2011
                20244 Posts
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                Posted: February 26, 2013, 3:30 pm - IP Logged

                don't worry, they'll find a way to steal money for the pension fund.

                Turning to Keno as a problem solver is always a good idea.Yes Nod

                  Avatar
                  The land of Canals
                  United States
                  Member #137589
                  January 7, 2013
                  168 Posts
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                  Posted: February 26, 2013, 6:42 pm - IP Logged

                  Cheers

                  Hooray for Kentucky!

                  “A day without sunshine is like, you know, night.” 
                   Steve Martin

                  Cool

                    JonnyBgood07's avatar - Patriots logo1.jpg
                    Connecticut
                    United States
                    Member #61623
                    May 29, 2008
                    20581 Posts
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                    Posted: February 26, 2013, 7:52 pm - IP Logged

                    I can't even believed this idea was considered.

                    What a bunch of krotchwaffles you got down there gary....unreal

                    "No matter how bad things may get, I'd like to thank my middle finger

                    for always sticking up for me.."

                     



                      United States
                      Member #116268
                      September 7, 2011
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                      Posted: February 26, 2013, 8:59 pm - IP Logged

                      I can't even believed this idea was considered.

                      What a bunch of krotchwaffles you got down there gary....unreal

                      I Agree! Buy a $5 MM ticket and casher says, "That will be $5.30 please"....... People would hate it.

                        helpmewin's avatar - dandy
                        u$a
                        United States
                        Member #106665
                        February 22, 2011
                        19740 Posts
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                        Posted: February 26, 2013, 9:16 pm - IP Logged

                        I Agree! Buy a $5 MM ticket and casher says, "That will be $5.30 please"....... People would hate it.

                        just like the gas no one likes higher prices but they would keep buying them

                        i like keno rock on KY.Hurray!

                        Let it Snow Snowman


                          United States
                          Member #116268
                          September 7, 2011
                          20244 Posts
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                          Posted: February 26, 2013, 9:21 pm - IP Logged

                          just like the gas no one likes higher prices but they would keep buying them

                          i like keno rock on KY.Hurray!

                          Because taxes are hidden in the price per gallon, no one ever notices how high those taxes really are.

                            psykomo's avatar - animal shark.jpg

                            United States
                            Member #4877
                            May 30, 2004
                            5114 Posts
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                            Posted: February 26, 2013, 10:23 pm - IP Logged

                            Cheers

                            Hooray for Kentucky!

                            ScaredSad CheersScared

                            how low can they go????????????<<<<<<<<<???????????? No Nod BSNo Nod Dupe AlertSad

                            tax on lottery tickets to go for goverment employee "RETIREMENT" fund.

                            no.....now we'r gona let keno "BANK" the "RETIREMENT" $$$$$$$$$$$

                            forget play'n D lottery>>>>>>people>>>get U one them government job'$!

                            PartyNoelParty