I won't be working Thursday

[rlphvac]

1 winning ticket from Arizona I wonder if Patrick was lying ?

[Texdentist]

Originally Posted by rlphvac

1 winning ticket from Arizona I wonder if Patrick was lying ?

I thought the same thing!

Hey, I got two numbers right on three different tickets. Six numbers is a winner, right??

[Junkman2008]

Originally Posted by Texdentist

I thought the same thing!

Hey, I got two numbers right on three different tickets. Six numbers is a winner, right??

See you at the office this morning.

[the machine]

Originally Posted by rlphvac

1 winning ticket from Arizona I wonder if Patrick was lying ?

Yes I hear it was sold in some dinky little town called Gilbert. Patrick never lies....some times he just obfuscates.

[walleyfisher]

Originally Posted by the machine

Yes I hear it was sold in some dinky little town called Gilbert.

Could a un-documented immigrant be the winner?

[Texdentist]

Originally Posted by walleyfisher

Could a un-documented immigrant be the winner?

I wonder if it was a Democrat. If so, we probably have one more recruit into the Republican Party since he/she will now be among the hated 1%, not to mention he will want to hang on to as much of his money as possible.

Originally Posted by Junkman2008

See you at the office this morning.

Yeah, already got my nose to the grindstone. Poverty sucks.

[the machine]

Originally Posted by Texdentist

I wonder if it was a Democrat. If so, we probably have one more recruit into the Republican Party since he/she will now be among the hated 1%, not to mention he will want to hang on to as much of his money as possible.

Regardless of party more than likely the winners life will not turn out to be the dream he thought. The vast majority of lotery or large jackpot winners end up in worse shape than when they won. Many times they lose all thier friends and much of their family. They are constantly bombarded by sob stories of kids with cancer that just need a few million dollars for that experimental therapy that is sure to save thier life.

They win a million, or ten million, or a hundred million and spend like they won 10xs more. They borrow against the money and soon end up in more debt than they had before.

Don't get me wrong...I would love the chance to do better than those people, but life is life and having lots of money doesn't solve all your problems.

As for the tax issues....top rate is 35% today. Assuming you were one of the winners and split the $579million prize, your share would be $289.5 million. If you take the one time payout instead of the anuity you get about $217 million. Your tax bite on that would be 35% today so you would end up with $141 million. If you put that into an investment that pays 3% a year you would make $4,230,000 a year. The tax on that would be again 35% so you would net out $2,749,500 a year. Now if the tax rates go up to the maximium they are asking for 39%, you would net out only $2,580,300 a year after taxes.

Do you think that person would bother getting all bent out of shape over taxes for $169k less in take home? I sure wouldn't.

[92Roadster]

Two lucky ticket holders — one in Arizona and another in Missouri

.....rumor has it Patrick (Arizona) is meeting up with Ivan (Missouri)........

[Texdentist]

Originally Posted by the machine

Regardless of party more than likely the winners life will not turn out to be the dream he thought. The vast majority of lotery or large jackpot winners end up in worse shape than when they won. Many times they lose all thier friends and much of their family. They are constantly bombarded by sob stories of kids with cancer that just need a few million dollars for that experimental therapy that is sure to save thier life.

They win a million, or ten million, or a hundred million and spend like they won 10xs more. They borrow against the money and soon end up in more debt than they had before.

Don't get me wrong...I would love the chance to do better than those people, but life is life and having lots of money doesn't solve all your problems.

As for the tax issues....top rate is 35% today. Assuming you were one of the winners and split the $579million prize, your share would be $289.5 million. If you take the one time payout instead of the anuity you get about $217 million. Your tax bite on that would be 35% today so you would end up with $141 million. If you put that into an investment that pays 3% a year you would make $4,230,000 a year. The tax on that would be again 35% so you would net out $2,749,500 a year. Now if the tax rates go up to the maximium they are asking for 39%, you would net out only $2,580,300 a year after taxes.

Do you think that person would bother getting all bent out of shape over taxes for $169k less in take home? I sure wouldn't.

Well, another way to look at it is, when he figures out that $60-70M of his wealth just disappeared into the Dems wallets to spend on buying votes, he might look at the Pubs stance on lower taxes with new eyes.

[92Roadster]

Originally Posted by Texdentist

Well, another way to look at it is, when he figures out that $60-70M of his wealth just disappeared into the Dems wallets to spend on buying votes, he might look at the Pubs stance on lower taxes with new eyes.

....why does everything get turned into a PRC thread....

[Chris Draper]

Also there were 58 winners of $1 million and there were eight winners of $2 million.

[Junkman2008]

Originally Posted by the machine

... Don't get me wrong...I would love the chance to do better than those people, but life is life and having lots of money doesn't solve all your problems.

I got more pussy from the hottest women when I was poor, broke and damn near homeless. Being rich is overrated.

[Junkman2008]

Originally Posted by 92Roadster

....why does everything get turned into a PRC thread....

[the machine]

Originally Posted by Texdentist

Well, another way to look at it is, when he figures out that $60-70M of his wealth just disappeared into the Dems wallets to spend on buying votes, he might look at the Pubs stance on lower taxes with new eyes.

Well if he looks at it as $60-70 million going into Dems wallets, I am sure he is already a rabid Fox viewer and devoted Republican, whereas if he looks at it as paying for the two wars Bush put on the credit card, and improvement and maintanance of this country's infrastructure, then he is probably a democrat.

[iburke]

The guy that won only lives 14 miles from me...