Friday, November 26, 2010

Lotto pot for charity?

There's this congressman who's proposing capping lotto winnings and contributing the excess to charity. He's saying that lotto with large pots like the current 6/55 pot of almost 700million pesos contributes to a culture of gambling, making people lazy and relying on the elusive luck to pull them out of poverty and even gambling away their food money.

While it may be true that some people do that, it applies to any pot, be it big and small (relatively). There will always be people who gamble, whether legally or illegally. But you don't really see people actually giving up their jobs or their investments on the off chance that they will be "saved" by winning in the lotto. People continue to invest in the usual things, like real estate, stocks, bonds, some buy gold bullions, and others invest in a business of some sort. These do not change just because he/she was tempted to put in a bet at the lotto. People still have sense, ya know.

Truth be told, I'm wary of "having the money contributed to charity". As far as I know, the lotto already has a portion set aside for charity. And, sorry, but I do not have faith in politicians when it comes to money. It is difficult to make a check and balance for "charity", especially when there are people in power who are behind it.

If I do become lucky enough to win, I will give to charity...anonymously. I won't upgrade my lifestyle too much. Maybe just buy a modest house. But I'll still continue to do the work that I am doing.