Showing posts with label debt lottery new york times david brooks. Show all posts
Showing posts with label debt lottery new york times david brooks. Show all posts

Thursday, July 31, 2008

"A tax on stupidity"

An interesting piece by David Brooks in today's New York Times, discussing the growing wealth gap and how current systems reinforce it.

Money (literally) quotes: "The country’s moral guardians are forever looking for decadence out of Hollywood and reality TV. But the most rampant decadence today is financial decadence, the trampling of decent norms about how to use and harness money."

"A household with income under $13,000 spends, on average, $645 a year on lottery tickets, about 9 percent of all income."