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If you are interested in US politics, the Town Hall website is worth visiting regularly.

Today there is an article by Michael Medved which asks why big lotto winnings are more acceptable than big executive bonuses. A couple of excerpts:

Why do huge Wall Street bonuses provoke so much more public indignation than similarly gigantic lottery jackpots?

At least financial tycoons can try to argue that their payoffs stem from their own wise decisions or productive hard work. But Powerball winners get rewarded for patently stupid behavior: wasting a few dollars (usually on a regular basis) on addictive games of chance with only the remotest possibility of success.

All studies of government-sponsored games of chance show that they draw their dollars disproportionately from the most disadvantaged members of society. … Lottery losses of just five dollars a week (a common pattern in the nations poorest neighborhoods) could otherwise yield life-changing results (like a compound-interest portfolio that will likely exceed five figures within 20 years) if that money were saved and invested.

Americans can accept a winner of Megamillions who collects $340 million simply because he’s luckier than we are, but we wince at the idea of bankers drawing a similar amount because they’re better connected, smarter, more sophisticated or even more productive.

And Debra Saunders notes that there is pretty good evidence that using a mobile phone while driving, even a hand-held phone, is no more risky than turning on the windcreen wipers:

Last week, an insurance industry report found that bans on using hand-held cell-phones while driving in California, New York, Washington, D.C. and Connecticut did not reduce the number of car crashes. To the contrary, crashes went up in Connecticut and New York, and slightly in California, after the bans took effect.

Insurers are the most risk-averse, nag-happy, fun-killing folks in the private sector. If ever there was an industry that loved nanny-state laws and had nothing to gain in raising information that does not support them, that would be the Insurance Institute for Highway Safety.

But its report found that the crash statistics simply aren’t there.

I doubt that will stop the legislators.

One Response to “Two From Town Hall”

  • Ben says:

    RE: Townhall

    There are also some great lectures to download from the Young America’s Foundation for podcast lovers.

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