I heard about this stunningly bad idea and got to thinking about the lottery. (The idea from this clown in Arizona is to turn every election into a lottery where one voter will get $1,000,000.)
You already know how bad the odds are on winning the lottery. You're more likely to die from drinking tap water than win. Yet, according to Forbes, 20 million Americans spend $1,000 per year on lottery tickets.
I guess that's the kind of imbecile the good doctor in Arizona is trying to draw to the polls on election day.
But that's not what this post is about. 19,999,999 of us are wasting $1,000 per year on lotto tickets. That $1,000 per year put in an IRA would actually be the size of a decent lottery jackpot by the time you retire. And it won't be taxed as drastically as the winnings of the one guy who does win that lottery jackpot.
So if you're spending more than a couple of bucks a year on the lottery, stop. Of course, a persuasive case can be made that you're better off playing the lottery than voting. Maybe Arizona will combine two bad ideas into one terrible plan.