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The Chip Board Archive 24

Ricky The Lottery takes nothing....

if you win 1.5 BILLION you only end up with about the .5. So lottery and taxes take 1 Billion and you get the measly 500 Million. lol Nothing wrong with 500M but why the lottery takes such a big chunk and then taxes on a $2 ticket.... Just not right!!!

If you win, you can take the 20 year (or is it 30 years now) option and they will give you 75 Million each year. I don't think you make any money while the lottery holds the balance of your payments.

What the killer is, Uncle Sam get's his piece of the pie at 40% - 60% (if I understand it correctly, winners are taxed based on the state you bought the ticket from).

The experts say to take the lump sum so you can put it into something that can bring in 3% - 5% yearly, live off the interest and never touch the original amount.

Messages In This Thread

Why the power ball hurts those who can least
Fred, this can be said about casinos
Re: Whats crazy to me is....
Ricky The Lottery takes nothing....
I'd blow it so fast, it ain't funny.
Re: I'd blow it so fast, it ain't funny.
Re: I'd blow it so fast, it ain't funny.
Re: Ricky The Lottery takes nothing....
New Jersey does too!...
Re: New Jersey does too!...
Nevada is one of ~~~
Re: Ricky is right. It's a ripoff.
Re: Whats crazy to me is....
EVERYTHING hits the poor hardest

Copyright 2022 David Spragg