Re: No Winner in the Mega Millions - 01/20/2106:22 AM
Could only imagine what the winner would do, if both lotteries went past the $1 Billion mark for each one; and one person had the sole winning tickets for both lotteries.
Take the yearly payments or take the lump sum for each lottery ????
Re: No Winner in the Mega Millions - 01/20/2107:14 AM
So you 2 are saying you couldn't live off a taxable 600 million? I can see where it'd be tough eeking out a living on 20 million a year I'd be consulting a good income attorney on what to do. I'd probably take the lump sum, put it in a tax friendly country and invest. I'm sure if you stayed in the US it'd be redistributed.
Re: No Winner in the Mega Millions - 01/20/2111:12 AM
Originally Posted by Badger23
So you 2 are saying you couldn't live off a taxable 600 million? I can see where it'd be tough eeking out a living on 20 million a year I'd be consulting a good income attorney on what to do. I'd probably take the lump sum, put it in a tax friendly country and invest. I'm sure if you stayed in the US it'd be redistributed.
I'd take the lump also and run. I wouldn't trust the establishment from confiscating the annual payments down the road soon.
Re: No Winner in the Mega Millions - 01/20/2111:57 AM
Originally Posted by Gary Benson
Originally Posted by Badger23
So you 2 are saying you couldn't live off a taxable 600 million? I can see where it'd be tough eeking out a living on 20 million a year I'd be consulting a good income attorney on what to do. I'd probably take the lump sum, put it in a tax friendly country and invest. I'm sure if you stayed in the US it'd be redistributed.
I'd take the lump also and run. I wouldn't trust the establishment from confiscating the annual payments down the road soon.
I would also take the lump sum for those reasons. I would convert quite a few million over to precious metals also.
Re: No Winner in the Mega Millions - 01/20/2111:58 AM
Originally Posted by deerdragger
The lottery is a tax for people who are bad at math.
I agree 100% and I've used this line before myself. I have probably played the lottery 4 times in 50 years. Our office always goes in together when there is a big pot and I'm the only one that doesn't participate.
I'm going to pick up a ticket for the next round. I've wasted $2 on stupider things.
Re: No Winner in the Mega Millions - 01/20/2107:13 PM
Originally Posted by Donnersurvivor
Originally Posted by deerdragger
The lottery is a tax for people who are bad at math.
Hope springs eternal, if a 2 dollar ticket gives someone a day of hope and day dreams ide say it's money well spent.
Edit, I've never purchased one myself.
It's not my place to judge how anyone spends their money but economists like to call it the "stupid" tax. Yes I do buy one once in awhile like one every two years, it's not illegal to be stupid lol.
When the Mafia ran the numbers game we threw them in jail. Now we call it mega millions and scratch offs taxing the poor and they don't even know it.
Re: No Winner in the Mega Millions - 01/20/2107:31 PM
Originally Posted by Donnersurvivor
Originally Posted by deerdragger
The lottery is a tax for people who are bad at math.
Hope springs eternal, if a 2 dollar ticket gives someone a day of hope and day dreams ide say it's money well spent.
Edit, I've never purchased one myself.
Thats how i see it . I buy a few once every few years and thoroughly enjoy strategizing how i would spend my money ,stuff like which buddies I would hire to buy land and manage it for me . I have several friends and family that I value their companionship enough they would never have to worry about anything again . I like eauipment and i like land and travel
Re: No Winner in the Mega Millions - 01/20/2110:35 PM
When winning any of the lotteries it is divided up this way if you take the lump sum. First you are awarded 55% of the total. Then after taxes, you would clear about 35% of th eoriginal.
But win that this year and President Biden will take much more.
Re: No Winner in the Mega Millions - 01/21/2112:50 AM
Originally Posted by seniortrap
When winning any of the lotteries it is divided up this way if you take the lump sum. First you are awarded 55% of the total. Then after taxes, you would clear about 35% of th eoriginal.
But win that this year and President Biden will take much more.
Re: No Winner in the Mega Millions - 01/21/2112:57 AM
Originally Posted by seniortrap
When winning any of the lotteries it is divided up this way if you take the lump sum. First you are awarded 55% of the total. Then after taxes, you would clear about 35% of th eoriginal.
But win that this year and President Biden will take much more.
Re: No Winner in the Mega Millions - 01/21/2101:03 AM
If I won I would take care of my buddies that have always been there for me, but I wouldn't be making any new buddies for sure. You would have to make sure your buddies wouldn't have to work any more so they could hang out with you and you wouldn't be bored.