HIGHER EDUCATION BUBBLE UPDATE: “Georgia’s state scholarships boost enrollment, but the people who pay for them are mostly poor.” “Of all the negative consequences, perhaps most important is that the Georgia lottery is a highly regressive tax scheme. Because the HOPE scholarship requires no direct taxation and is instead funded entirely by the ‘lottery tax,’ it is extremely popular with middle- and upper-income residents. Since those who predominantly play the lottery are lower-income people, there is a transfer of funds from lower-income to middle-income families.”