Many State Governments Use Lotteries to Raise Revenue

question 248

Essay

Many state governments use lotteries to raise revenue.If a lottery is viewed as a tax, is it most likely a progressive tax or a regressive tax? What information would you need to determine whether the burden of a lottery is progressive or regressive?

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Definitions:

Property, Plant

Part of Property, Plant, and Equipment (PP&E), these are tangible assets used in a company's operations expected to last more than one fiscal year.