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N.J. Lottery goes from zero to highest tax rate in the USA

Topic closed. 63 replies. Last post 7 years ago by OldSchoolPa.

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Think's avatar - lightbulb
Marquette, MI
United States
Member #20541
August 20, 2005
705 Posts
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Posted: July 7, 2009, 10:09 pm - IP Logged

You sound like someone who has never won a big prize, and thus never saw most of it taken away by the government.  That experience would probably alter your viewpoint.  Myself, I don't need to wait until I win to know what it would be like.  The "selfishness" and tyrannical attitude of the government, assuming they can steal from one group of people and bestow it on another, is not American.  Sorry, it's not.

I have never won a big prize but I don't have to to feel that way.  Everytime I pay tax and ,lately, utility bills I feel like I am contributing money to charity as I do not get anything from all these greatRoll Eyes new programs.

Screwed by DTV switch, Screwed by cash for clunkers, Screwed by GM, Screwed by Chrysler, Screwed by the surcharges on utility bills.  I don't even want to ask how they are going to f**k up health care...and I know it wont stop there.

Anyway my point is that you no longer need to contribute to charity because you are already doing that through taxes and, in some states, through your utility bills.

When the charities come knocking tell them "I gave at the IRS. The government has my money so go get it from them".

    Avatar
    NY
    United States
    Member #23835
    October 16, 2005
    3474 Posts
    Offline
    Posted: July 10, 2009, 2:50 pm - IP Logged

    You sound like someone who has never won a big prize, and thus never saw most of it taken away by the government.  That experience would probably alter your viewpoint.  Myself, I don't need to wait until I win to know what it would be like.  The "selfishness" and tyrannical attitude of the government, assuming they can steal from one group of people and bestow it on another, is not American.  Sorry, it's not.

    I can hardly describe the agony of lying awake at night while my heart bleeds for those poor people who win enormous amounts of money and only get to keep 60% or more of enormous.

    Seriously, anybody who's up in arms about this and isn't one of the (very few) people actually affected must not have a clue about the real impact. The way lottery prizes are structured most of the prize money in most games is reported to the IRS, but the vast majority of winners aren't reported. Here's a breakdown of what can be expected for Mega Millions.

    For every 175,711,536 tickets sold we can expect:

    1   jackpot winner
    45   2nd place winners
    255   3rd place winners

    That's a total of 301 winners whose winnings will be reported and taxed.

    There will also be:

    11,475 4th place winners
    12,750  5th place winners
    208,250  6th place winners
    573,751  7th place winners
    1,249,460 8th place winners
    2,349,084 9th place winners 

    That's a total  of 4,404,770 winners whose winnings won't be reported. As a practical matter that means that their winnings won't be taxed.

    The 301 who will be paying taxes represent 0.00684% (1 out of every14,620) of all winners. Of course only 1 in every 39.9 tickets wins anything at all, so the 301 who will pay taxes only represent 0.00017%, or 1 of every 583,338 players. Let's assume that you're one of the few players buying 1000 tickets every year. Statistically you're still only going to have to pay a tax once every 583 years. If that possibility actually bothers you, you just aren't thinking very clearly.

    As for the attitude of the government,  whether everyone understand it or not, the government is the people, and that's the real problem. People in large groups aren't efficient, whether they're running  a city, a state, a country, or planning an office birthday party. That they have to try to keep everyone happy just makes it less efficient. The majority of our politicians are not serving their first term. Whose fault is it that the people running the show are making decisions that the voters (and of course the non-voters) don't like?

    The real selfish attitude comes from the people who clamor for reduced spending but don't want any of those cuts aimed at the things they're interested in. The real selfish attitude comes from the people who think that some of their income should be tax exempt for some special reason. The real selfish attitude comes from the people who cheat (or try to cheat) on their taxes by not reporting income they know is taxable, including unreported gambling winnings. In short, the real selfish attitude comes from people, period, because it's human nature to look out for our own personal interests.

    Prob988 has it exactly right. We're all in it together, and between all of us we have to pay the bills. Some of you may think some people are being asked to pay more than their share, but that's because the vast majority of you don't have to pay your own share. If they don't tax lottery winnings the vast majority of you will get to pay more of your share.

      OldSchoolPa's avatar - Lottery-057.jpg
      Gurnee, Illinois
      United States
      Member #49731
      February 12, 2007
      917 Posts
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      Posted: July 12, 2009, 9:45 pm - IP Logged

      This is how The politicians especially Democrats operate. They stay under the radar by sponsoring bills such as this,  to stay corrupt without being in the limelight. Now is the time to show how corrupt they really are. Wake up people.....!

      Truly pathetic...!!!!!! 

      Yes...the nation is getting EXACTLY what it VOTED for...higher taxes all around because the Democrats rule the crown (just trying to rhyme...but with Papa Obama knighting czars in different areas, it is almost true that we now have an oligarchy).   And if you listen to all of Papa Obama's speeches, he ALWAYS emphasizes the importance of democratic rule...establishing a democracy in Iraq and Afghanistan...the successful democratic election in Ghana, etc.  Our Republic has gone to hell because of all the liberal democrats and few liberal Republicans.

      Now I would like to throw my name in the hat and run for Congress...and I would PROMISE to fight ANY and ALL expansion of government...heck I would even throw my name in the hat and run for President in 2012 and I would promise to repeal EVERYTHING that Papa Obama enacted.  Would you vote for me?

      Get MONEY!!! Winning a JACKPOT lottery is all the HOPE and CHANGE I desire!!!  NOW give me MONEY!US Flag

      The guy who won the presidency in 2008 really won the lottery...he is now millions richer, travels in first class style, and even has a staff that would be the envy of the richest Powerball winner (she has a staff of 2). Every night he goes to sleep, he probably plays the close of Dave Chappelle's Show: I'm rich beyatch!

        OldSchoolPa's avatar - Lottery-057.jpg
        Gurnee, Illinois
        United States
        Member #49731
        February 12, 2007
        917 Posts
        Offline
        Posted: July 12, 2009, 10:09 pm - IP Logged

        I would say the same about Republicans. I do believe this is something the Republicans cooked up.......a bunch of bushwhacks that need their money and those same Republicans continue to bankrupt the people...they did enough damage for the last eight years.

        Well if you look who sponsored this bill, it was ALL Democrats.  And the damage from the last 8 years really started under Clinton's administration...HE is the one responsible for the meltdown in the financial markets and bank failures as he is the one who repealed the provision that had prevented banks from becoming too big to fail. 

        So stop parroting what Papa Obama has hypnotized into your lemmin brains...the past 8 years...the past 8 years...and actually start thinking about what has actually happened and who did what.  If America does not start THINKING for itself, we truly are going to become a bankrupt former republic controlled by China/Russia/still free Bernie Madoffs.

        Get MONEY!!! Winning a JACKPOT lottery is all the HOPE and CHANGE I desire!!!  NOW give me MONEY!US Flag

        The guy who won the presidency in 2008 really won the lottery...he is now millions richer, travels in first class style, and even has a staff that would be the envy of the richest Powerball winner (she has a staff of 2). Every night he goes to sleep, he probably plays the close of Dave Chappelle's Show: I'm rich beyatch!