Cox said during an appearance Friday on CNN that hiking the price by just 50 cents per [Georgia lottery] ticket could raise $350 million to help fill a massive hole left by state budget cuts in the last two years. Cox said raising prices would ensure K-12 got money while also preserving funding for the HOPE college scholarship and state’s prekindergarten program.
Sweet, because raising the price of something has always generated more utility for the consumer from each individual purchase, right? This, perhaps, comes from the same misguided thinking that believes raising taxes on tobacco sky high won’t cause the use of that product (and its resultant tax base) to dry up.
How about the price of a lottery ticket is cut? Perish the thought, I know, but the result might be a pleasant surprise for those, evidently like Cox, who also don’t seem to understand how tax cuts increase money flowing to government coffers.
Maybe she really isn’t smarter than a 5th grader, after all.