I read with interest a letter by Bob Taylor, wherein he stated: "The California lottery is very interested in player sentiment."
Elsewhere in the same L.A. Times issue wasthe story of Carlos Olvera winning $25,140,000 payable at $1,257,000 (before taxes) over 20 years.
I have a sentiment or two and a question for Taylor. First, why isn't the statement honest? Olvera did not win $25,140,000--he won $1,257,000 per year for 20 years. Second, anyone with a $5 calculator can easily figure out that it only takes a little less than $13,000,000 plus 8.5% interest on the balance each year to pay out $1,257,000 per year for 20 years. My questions are: Mr. Taylor, where is the other $12,000,000? And, where is the honesty?
L. G. ENGLE