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POWERBALL CREATES WORLD'S FIRST BILLION-DOLLAR JACKPOT

Topic closed. 567 replies. Last post 11 months ago by AbsolutelyFun.

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Posted: January 12, 2016, 6:48 am - IP Logged

The news anchor just said she tried to buy PB tickets yesterday , but she didn't know it was cash only and she only had credit cards. Wow!

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    Posted: January 12, 2016, 7:31 am - IP Logged

    CBS is reporting that Canadians are crossing the border to buy the PB at Niagara Falls

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      Posted: January 12, 2016, 7:50 am - IP Logged

      CBS is reporting that Canadians are crossing the border to buy the PB at Niagara Falls

      I would like to extend a personal thanks to all those Canadians who are willing to contribute the jackpot so that we Americans can win it.

       

      Although there won't be any Canadians winning I can't help to wonder just what their tax situation would be if they could win.

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        Posted: January 12, 2016, 7:51 am - IP Logged

        lol! so true!  30% plus all US Taxes

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          Posted: January 12, 2016, 7:52 am - IP Logged

          lol! so true!  30% plus all US Taxes

          Really? Wow that's brutal.

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            Posted: January 12, 2016, 7:54 am - IP Logged

            Really? Wow that's brutal.

            Instead of 28% Fed Tax, It goes up to 30 % and then the state taxes (if any)


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              Posted: January 12, 2016, 8:03 am - IP Logged

              who cares? even your own tax situation if you win doesn't matter. no one could keep track of all that money anyway. you'd have to hire a dozen people just to make sure someone isn't siphoning it off and out of those 12 people some of them will steal some of it. life would be hell if you won. you would be besieged by countless individuals and organizations 24 hours a day. when you wake up every day if you can even sleep you will be consumed by having all this money and there is no way to enjoy it. what are you going to do. buy 7 houses and 14 cars, take trips. all that will get boring quick. you say i'll take care of my family. there would be no end to that. if you try to give it away you would be constantly hounded. foolish to invest it as why would you need more money. you only live so long and whoever you invest it with will steal it anyway. think before you play more than 2.00 on this. if you say i'm only playing for 2nd prize then it makes sense. be careful what you wish for.

                savagegoose's avatar - ProfilePho
                adelaide sa
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                Posted: January 12, 2016, 8:10 am - IP Logged

                think its same as me no state tax as im not  resident but %10 more on top of federal taxes. no local Australian taxes as we dnt ta winnings unless yo re  a professional

                2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

                keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

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                  Alabama
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                  Posted: January 12, 2016, 8:17 am - IP Logged

                  If that was the case I wonder how all these people on the Forbes list don't crack up .


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                    Posted: January 12, 2016, 8:35 am - IP Logged

                    If that was the case I wonder how all these people on the Forbes list don't crack up .

                    because they got their fortunes over time. not all at once like this would do. they say the first million is the hardest to obtain. after that it gets easier if done right. they are far more adept in handling it than the peasants on this site (most of whom realize it's just a pipe dream are merely being entertained by this) deep down hoping they only win 1 or 2 million at most which is the viable approach. 800 million! no one could possibly want all that. with luck there will be a dozen or more winners, but the matrix is so stacked against everyone it'll be 2 or 3.

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                      Posted: January 12, 2016, 8:55 am - IP Logged

                      because they got their fortunes over time. not all at once like this would do. they say the first million is the hardest to obtain. after that it gets easier if done right. they are far more adept in handling it than the peasants on this site (most of whom realize it's just a pipe dream are merely being entertained by this) deep down hoping they only win 1 or 2 million at most which is the viable approach. 800 million! no one could possibly want all that. with luck there will be a dozen or more winners, but the matrix is so stacked against everyone it'll be 2 or 3.

                      faber98 said, "they are far more adept in handling it than the peasants on this site...."

                       

                      Dang that's hilarious!


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                        Posted: January 12, 2016, 9:14 am - IP Logged

                        faber98 said, "they are far more adept in handling it than the peasants on this site...."

                         

                        Dang that's hilarious!

                        it is hilarious, but true. people obsessing about tax laws. concerned about which state will take the most away from you. you should hope if you win that they take most of it so you won't have the problem of trying to get rid of it yourself. look, it's fun to dream and plan but so far no one on here has the remotest idea of what to do with 800 million. 5 months in and you would be saying i would have been happier with 10 million. that maybe i could handle.

                          BBLL's avatar - audi r8-wallpaper-bla
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                          Posted: January 12, 2016, 10:08 am - IP Logged

                          Dallas Mavericks owner Mark Cuban, who knows what it’s like to suddenly become incredibly wealthy has some tips (some practical and some philosophical) for the winner or winners.

                          • Hire a tax attorney first.
                          • Don’t take the lump sum. You don’t want to blow it all in one spot.  (I don't agree with him on this one. The opposite of not taking a lump sump is taking the annuity)
                          • If you weren’t happy yesterday you won’t be happy tomorrow. It’s money. It’s not happiness.
                          • If you were happy yesterday, you are going to be a lot happier tomorrow. It’s money. Life gets easier when you don’t have to worry about the bills.
                          • Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs 1m dollars for anything. No one needs 100k for anything. Anyone who asks is not your friend.
                          • You don’t become a smart investor when you win the lottery. Don’t make investments. You can put it in the bank and live comfortably. Forever. You will sleep a lot better knowing you won’t lose money.

                          But don’t take this as a suggestion from Cuban that you should spend a lot of money on lottery tickets. The odds (one in 292.2 million) will continue to be remote no matter how many tickets you buy.

                          “It’s OK to spend 2 dollars for entertainment value,” he said via email. “If you have 10 dollars go to a Mavs game.”

                           

                          Dunno about the don't invest money comment.  I say invest a portion of it and keep a nice pile for those really rainy days.

                          Very helpful, thanks Hurray!

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                            Posted: January 12, 2016, 10:32 am - IP Logged

                            it is hilarious, but true. people obsessing about tax laws. concerned about which state will take the most away from you. you should hope if you win that they take most of it so you won't have the problem of trying to get rid of it yourself. look, it's fun to dream and plan but so far no one on here has the remotest idea of what to do with 800 million. 5 months in and you would be saying i would have been happier with 10 million. that maybe i could handle.

                            $800 million? Nobody will get $800 million unless you're referring to the Annuity.  If you're in a no tax state you gotta give Uncle Sam 39.6%. The current Cash Option is $868M so multiply that by .604 (60.4%) and you get $524,272,000 Million.

                            So lets' get spending!

                            Now assuming I want to spend my money like a madman, I would buy that beautiful home in Beverly Hills for $85,000,000 (you can see it on YouTube) I can't even imagine what the property taxes are but it must be insane. The upkeep has to be expensive too. Will need a maid and yard man at a minimum so more expenses.  Also need some seriously good insurance in case my home falls off of that hill it's on.  Still got $442.272M (actually less because of unknown expenses)

                            Next buy that yacht I always wanted and since I'm rich so I'll get that Italian yacht called the Quinta Essentia at 180 foot long for a measly $41,146,434. Again I'll need a crew to both maintain the yacht and to drive it around wherever I want to go.  Also will need at least one maid/server/hostess who has to be pretty so that my friends really enjoy the cruises we go on. Oh and a first mate like they had on Gilligan's Island so minimum is the Captain, First Mate, Hostess and a maintenance crew. Dunno what that costs but I'm sure it's not cheap.  Oh and of course gotta gas her up with diesel fuel so add on the fuel expense and also the insurance on my boat in case it catches on fire or sinks or something. Now still got $398,125,566 (well actually less because of unknown expenses)

                            Next gotta fill up that incredible glass garage in my $85M home with some exotic cars.  Buggati Veyron $2.8M, Ferrari's La Ferrari $1.4M Lamborghini Aventador Pirelli Edition $400K, Aston Martin Vanquish Carbon Edition $350K and a Mercedes Pullman Limo $600K

                            Again, need insurance for these toys and the total is $5.55M now I got $392,620,566 (again actually less gas costs & maintenance)

                            Since I am rich I will get me one of those nice global private jets, a Bombardier 850 for $32M so again huge insurance and jet fuel and maintenance plus FAA checkups.  Dunno the price on those are but it's gotta be high.  Still got $360,620,566.

                            I have already spent $163,651,434 (actually more) probably closer to $200,000,000.  So that leaves me with $324,272,000.  Maybe I'd be smart to stop so that I can earn interest on that because the expenses are getting crazy and I still haven't got a wife that wants to divorce me and take half.

                            Of course there are those smaller expenses that come with having the best of everything.  New cats and dogs. Love those Savannah cats so I'll get two of those,  $40,000 total.  Couple of Goldens at least $6000.  Vet bills: Unknown, Food bill negligible.

                            I want the best beds money can buy, I like that Majesty VI-Spring Bed for $85K each. One for each for the bedrooms in my new $85M home.

                            Oh that reminds me, a vacation home in Hawaii. Just a couple of bedroom condo will work for me.  Easily $1.5M ocean view, what else?  Add two more beds at $85K each.

                            I like that Beovision 4-103 TV by B&O for $135,000.  At least a few for my new home and one for the Hawaii condo. That's over a half million.

                            Also I will need at least one or more personal assistants that are trustworthy. That could really cost because I need smart people who I can trust to execute my decisions and dependable.

                            So I'll stop there but when you say that no one here has the remotest  idea of what to do with $800M trust me I can spend it all if i really want to and it certainly would be fun.  Let us not forget that there are a lot of people out there who need a hand up so charity is something that if I had $800 million I'd start a Foundation to help those who are less fortunate/have special needs/our veterans who are struggling/help animals I care about and the list goes on and on and on.  It really is NOT so difficult to spend all that money, trust me as I've thought about what one can do with millions. 

                            I will say that short of being a madman I'd most enjoy helping others through my foundation much like other very wealthy people do.  It's not all about you once you're THAT wealthy as your needs are being met.  It's like Eddie Murphy said in his comedy act, "making ends meet? the ends are meeting like a bleep bleep" when he was speaking of Johnny Carson being worth $300 million.

                              BBLL's avatar - audi r8-wallpaper-bla
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                              Posted: January 12, 2016, 10:40 am - IP Logged

                              How much will the jackpot be if nobody win on Wednesday?

                                 
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