BookWatch: Mega Millions and other lotteries don’t replace taxes — they add to them

Editor’s note: This article has been updated to reflect the latest large lottery jackpot.

Lottery mania is upon us once again. After no one picked all six numbers correctly in Friday’s Mega Millions drawing, the winner of Friday night’s drawing will receive, at a minimum, a $346 million jackpot.

While the lure of winning such a large sum of money for a seemingly small investment ($1 for one ticket) can be irresistible, those who gamble on the lottery would be wise to save their money, instead of paying what is essentially a voluntary tax to state-sponsored gambling. And some of the biggest contributors to this voluntary tax are the country’s poorest citizens.

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