Earlier quoted context omitted.
> Ehh. A $1/week expense which buys you hope and dreams for a week isn't that bad in the grand scheme of things. The problem is that poor people aren't just dropping 1 dollar per week. They're spending much more. Some people have a very poor grasp of how bad the odds are and mention that playing the lottery is their way to retirement. Taking a convenient top link from a Google search (admittedly it references a study…
From the linked article: > ... poor households, with annual take-home incomes under $13,000, on average, spend $645 a year on lottery tickets, which comes to about 9% of their yearly income.. $ echo 13000*.09|bc 1170.00 $645 is ~5% of 13k.
Try:
$ echo "(93250.1)+(13000-9325)0.15"|bc
gives tax payments on 13k USD to IRS 1483.75
9% of take home pay is
$ echo "(13000-((93250.1)+(13000-9325)0.15))*0.09"|bc 1035
Then there is the additional sales tax at point of sale, which can further reduce buying power.
Yes its 135 than your projection, but that might be food for the week.