All of our politicians seem to agree that economic inequality is bad. It seems plain that our government is run by politicians. Why then does the government run the Powerball lottery, with a maximum prize this week of $1.3 billion (as with other government-promulgated numbers, be sure to discount for fraud! The after-tax value of an immediate payout of $806 million would be under $500 million I think)?
By the time this lottery is run, one or more Americans will be crazy rich while most of the rest of us will be slightly poorer (from having purchased losing tickets).
Am I wrong or is this like driving around in a Volkswagen diesel car with a “save the planet” bumper sticker on the back?