Payday Pundit » Iowa state lottery http://paydaypundit.org News and Information About The Payday Lending Industry Tue, 22 Jun 2010 01:32:09 +0000 http://wordpress.org/?v=2.9 en hourly 1 A payday loan for Iowa? http://paydaypundit.org/2009/02/16/a-payday-loan-for-iowa/ http://paydaypundit.org/2009/02/16/a-payday-loan-for-iowa/#comments Mon, 16 Feb 2009 14:23:35 +0000 Payday Pundit http://paydaypundit.org/?p=2505 At least that’s the comparison this editorial makes in discussing an idea to sell the state lottery to make money.  From the Telegraph (IA) Herald:

Now, some state officials are kicking around the idea of selling the Iowa Lottery. The deal might bring $200 million plus a 22 percent annual tax on receipts — a mighty attractive prospect, considering state government’s current financial straits. That’s the offer Gov. Chet Culver had on the table. It came from Riverside Casino and Golf Resort CEO and Dubuque native Dan Kehl.

But wait a minute. The Iowa Lottery is worth $1 billion, according to State Treasurer Michael Fitzgerald.

It would be a ridiculously lousy idea to sell the lottery. The state should say no way, not even for $1 billion.

]]> http://paydaypundit.org/2009/02/16/a-payday-loan-for-iowa/feed/ 0