economic disparity

The $588 Million I (Thankfully) Didn’t Win

Photo: Lottery ticket, © Sean Gladwell / Shutterstock.com

Photo: Lottery ticket, © Sean Gladwell / Shutterstock.com

I played the New York lottery for the first time last week.

My $2 ticket didn't win the $588 million payout – surprise, surprise – but it did buy me several minutes of musing, most of it instructive, some of it enjoyable.

I quickly ran out of spending ideas – slightly larger apartment, new computer, clothes for my wife, a car to replace the two we sold when moving to Manhattan. I realized I couldn't even spend the income on a lottery bonanza, unless I started buying things I don't need or particularly want.

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In the end, I liked the idea of financial security, but saw little to be gained from sudden wealth. In fact, given the misery that tends to befall lottery winners, I might have dodged a bullet by not winning.

After this brief fantasy, I wondered more than ever why the wealthy work so hard to avoid taxes and other obligations of citizenship. Even though their effective taxes are lower than they were during the Reagan years and far lower than during the great prosperity of the post-World War II era, the wealthy are lobbying fiercely to pay even less in taxes. Once again, they seem willing to crash the government for everyone, rather than pay their share of its support.

Must Watch: Richard Wilkinson's TED Talk

Richard Wilkinson on TED.com: How economic inequality harms societies

We feel instinctively that societies with huge income gaps are somehow going wrong. Richard Wilkinson charts the hard data on economic inequality, and shows what gets worse when rich and poor are too far apart: real effects on health, lifespan, even such basic values as trust.

Watch Wilkinson's TED talk inside the blog...

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