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Dave Ramsey on the Lottery "Tax on people who can not do math!"
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Oct 20, 2018
I say it is a tax on the stupid. Dave is more kind then me. Get his books here: https://amzn.to/2POkRoV #lotteryisStupid #DaveRamsey #MegaMillions
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well Mega Millions has hit
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$500
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million and somebody's got to win
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right this is what broke people
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say this is what poor people say they
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say phrases like somebody's got to
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win and people who normally have their
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brains plugged in regarding lotto
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tickets if it gets high enough it causes
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you some of you you know the extension
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cord to your brain for some of you it's
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a longer extension cord than others at
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500 million several of you
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unplugged if you you ran out of slack on
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the cord popped right out your brain's
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unplugged something
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happened and it it's the weirdest thing
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because it's people who are otherwise
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fairly
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smart at 500 million something brain
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unplugs they just they drop so they say
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I I've I've got to buy a lot ticket for
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$5 somebody's got to win and these are
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people who normally would not take $5
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and throw it out the car window as they
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drive down the road normally they would
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not just take 10 bucks and just toss it
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out the window normally they wouldn't
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take $10 if they if their child took $10
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and and and and shredded it right before
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their eyes took took it and just ripped
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up the $10 bill into tiny little bits
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and buried it in the backyard you would
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have a talking to to your child you
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would say you shouldn't waste
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money and this is you and yet you're
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doing the same
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thing you're shredding
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money you're not going to
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win Dave you ought to be positive I'm
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positive you're not going to win you're
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not going to win you're not going to win
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you know how I know you're not going to
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win statistical evidence it's called
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mathematics people who play the lotto
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the lotto is a tax on people who can't
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do
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math that's what it is it's a tax on
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people who can't do math
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statistically here here's the actual
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numbers now this is so bizarre you would
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think I would make it up but I didn't
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it's actual numbers now this is
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mathematical fact statistically you are
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more likely to be struck by lightning
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six times and survive all six times than
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to buy this winning lotto ticket
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and yet you go oh I can't resist I'm
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going to take my $10 I'm going to take
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my $40 I'm going to take my $5 and I'm
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going to rip it up into little bitty
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squares and grind it under my heel
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because I am I'm the exception Hope
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Springs Eternal somebody's got to win
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it's not
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you you're not going to
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win no more than you're going to walk to
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your car after work and get struck by
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lightning get up get struck by lightning
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again get up get struck by by lightning
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again get up get struck by lightning get
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up and get struck by lightning I have to
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do this all the way through six times
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for you to get the point and every time
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you get up that's what's amazing I mean
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not just that you got hit six times you
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get up six times there's a YouTube video
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of a guy getting struck twice and
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getting up it's captured on a uh on a
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security camera it's the most bizarre
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thing this guy walking along the alley
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and he just knocks him down a few
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minutes you see him start to Twitch and
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move and he comes to and he gets up and
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he starts walking along boom gets hit
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again you're like what has this guy done
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he get hit twice in in like five
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minutes this is the
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likelihood statistically speaking of you
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buying the winning lotto ticket and yet
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you place your hopes there and what what
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is what the what the dichotomy to me is
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is you do that and then you call me up
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and go you know I'm not investing in the
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stock market it's too much risk
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what what you're willing to take dollars
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and just shred them up into little bitty
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squares but you won't put money in a
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Roth IRA in a mutual fund because the
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stock market's risky
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risky well I'll guarantee you this when
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it comes to playing the lotto you are
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risking
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nothing you are risking nothing
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statistically it's a 100% guarantee
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you're not going to win that's what I
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keep trying to tell you you are more
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likely to die of a car accident driving
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one mile to buy the ticket at the market
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than you are to buy the winning ticket
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statistically one mile one guy put on
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Twitter when I said that he goes yeah my
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wife heard that so she sends me to get
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the
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ticket she w't be the one dies she wants
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the
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ticket so you know it's I don't care I
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mean all those stuff on Twitter Dave
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Ramsey is gonna be mad at me because
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Dave Ramsey I bought a lot of ticket
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Dave Ramsey's not mad at you if you want
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to be stupid you make my life good I
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make my living off of that thank you
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very much
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you're going to continue to be broke as
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long as you make stupid decisions and I
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need a certain number of broke people to
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entertain the rest of the
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listeners I'm kidding but not much
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seriously why am I mad I don't care it's
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just interesting to me how we juxtapose
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things in our mind oh I I I'm not a
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person that takes risk I I wouldn't I
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wouldn't want to buy real estate I've
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got all my money tied up in Gold because
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the econom is going to fail I I I would
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never invest in a a mutual fund with a
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78-year track record of 11.9% because
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the stock market's risky everybody knows
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this my grandmother once said the stock
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market was risk my my my 401k went down
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I never looked when it went back up but
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I'm all tore up I'm all torqued out I'm
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all twisted up about investing in a
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piece of real estate or buying a home
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because homes went down in
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value but I'm going to buy a lotto
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ticket and L losing money to me is
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entertaining
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what it's about as dumb as playing the
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slot machines isn't
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it t t t t just keep pulling the arm
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down waiting on and then about the time
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you're ready to walk away they give you
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half of your money back so that you put
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in another 200 bucks so I mean they just
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keep hooking you it's a it's a
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science it's all based on
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mathematics the house wins
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and in the case of the lotto the house
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is your
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[Laughter]
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government yes you are playing Russian
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roulette with the government it's their
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gun and their bullet and you think
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you're going to win it's so funny it's
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amusing to me it really is and it's in a
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very sick and surreal and sad
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way because here's the saddest of
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all that uh um the vast majority of
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Lotto people that play the lotto are the
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least
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educated the vast majority of the people
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that play the lotto regularly are the
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poorest of the
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poor it's a tax on the poor the vast
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majority of the lotto tickets are sold
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in lower income zip
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codes so go play Mega Millions if you
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want but I want you to question what's
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broken in your brain that causes you to
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do that I have no desire
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to take a $5 a $10 or $100 bill and rip
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it up into little bitty squares and
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grind it under my heel I work too hard
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for that
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money it's not fun to me to give more
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money yet yet more money to the
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government you're not going to
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win I'm
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positive this is the dayve Ramsey Show
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