Italian Town Bets Budget on Lottery to Raise Revenue, Cut Taxes
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A southern Italian town is betting part of its budget on weekly lottery tickets, arguing that the strategy is no more a crapshoot than investing on Wall Street.
If Melito, near Naples, hits the jackpot, the town will become “a little tax-free haven,” Mayor Antonio Amente said in an interview on Aug. 31, after the city council unanimously backed his proposal. “We’ll be like Monte Carlo!”