Rumors of minor’s lottery buy unfounded

Comment #39

fja — Sat, 05 Nov 2005 15:41:13 GMT

looks like this conversation is over........and they will be claiming the powerball prize shortly....on to the next topic of discussion.....what they say and what they do....

Comment #38

Chewie — Sat, 05 Nov 2005 12:24:58 GMT

I know one reason why millionaires stay millionaires. Its cause they use the money till the end, they make it work, they move it around, they find every loop whole that they can, and then and only then do they let it go. You're right there, only the primary emphasis is on the moving it. For example, there is a newly published book out, and one of the items is how the Kennedy's hide their money. Good old, Ted lets go for a swim Kennedy, has $500M stashed in trust funds registered in an out of... [ More ]

Comment #37

Chewie — Sat, 05 Nov 2005 12:15:36 GMT

Hey, say what you want, however you want. I'd be the last to prohibit you. I was just noting the irony - of which I am guuilty of many times.

Comment #36

rlevins — Sat, 05 Nov 2005 02:41:36 GMT

I guess you are right Chewie, I got carried away and should not have said that. Discussions are good most of the times and gives one view of the way others think about something and we learn from them sometimes.

Comment #35

Chewie — Fri, 04 Nov 2005 23:17:29 GMT

Comment #34

rlevins — Fri, 04 Nov 2005 22:35:22 GMT

Lol, I did not mean that to save tax one should give to charity/one's good cause. What I meant that it is very good option for people who intend to give money to charity/their good cause.As far as taxes are concerned for Jackpot winner, one is stuck with 35% (current rate of Federal tax for earnings beyond 200K/300K). There may be some savings here and there which I may not be aware. But my point is that there is no reason for waiting months for collecting Jackpot in another year so that one can... [ More ]

Comment #33

fja — Fri, 04 Nov 2005 21:28:52 GMT

Yeah you may be right , but wouldn't a team of advisors tell you that instead of paying 20, 000 or 50,000 or donating 8.75 M in good cause, you should keep that tell next year and then let it work for you before you give it up. Not that I am any math geneis, but if I had an advisor tell me to kick in that money cause its chump change and you got plenty more where that came from, I would probably not take him. I know one reason why millionaires stay millionaires. Its cause they use the money til... [ More ]

Comment #32

libra926 — Fri, 04 Nov 2005 21:09:11 GMT

NOVEMBER 4TH.........HAPPY FRIDAY EVERYONE......CHEWIE.....:> made a very valid point in his last statement.......Furthermore, I'm sure the entire Syndicate is congregating among themselves as to where they should move to, and how quickly they can move there, to ensure at least a tablespoon worth of privacy, after they collect their prize winnings. I think Steve the Syndicate, has finally faced reality because even half of $340,000,000.00..is going to change their lives completely.I also w... [ More ]

Comment #31

rlevins — Fri, 04 Nov 2005 19:07:39 GMT

I just do not understand why folks here are discussing tax consequences of claiming now or next year. For anyone winning even a moderate size jackpot, the tax implications are fairly simple.For example say you won 50M cash. The Federal tax is 50 * 0.35 = 17.5 M so you are left with 32.5 M. Lets us say your income in 2005 is zero then 17.5 M is the final tax. But if you were earning in 2005 and your income was/is say 100,000 so you pay around say 15,000 in taxes. Make it 20,000. So what is the ad... [ More ]

Comment #30

fja — Fri, 04 Nov 2005 14:42:33 GMT

Rule of thumb, if you win big seek financial help. if he won, and followed the rule, then it could be that the financial suggestion of the day would be to wait until 2006 to collect. that way you will have time to scatter your investments around. If you collect now then you got about 7 weeks to make decisions that need reserach and disscussion, Before Uncle Sam starts playing his favorite Beatle song. (TAXMAN) He was probably ready to to do the publicity circut runs...(so that we may all pa... [ More ]

Comment #29

DoubleDown — Fri, 04 Nov 2005 00:04:19 GMT

Why won't the winner come forward and get the $$$ ?99% of us would have by now- make that 100% !DD

Comment #28

libra926 — Thu, 03 Nov 2005 21:48:24 GMT

MY POSITION STANDS FROM WEDNESDAY........... NOVEMBER....2ND...... OOOHHHHH BOY..I'M LOVIN THIS......LOL.OLOLOLOL1) Yes Rock......In an interview for Good Morning America, West told them that his wife said to him that, because winning would change their lives, perhaps they shouldn't have purchased the tickets at all. That statement bothered me as well, as I expressed in another Blog. Let's face it, nobody ever played the Lottery, either 1st time or 100th time, for the purpose of NOT WINNING.... [ More ]

Comment #27

Chewie — Thu, 03 Nov 2005 19:44:51 GMT

The spotlight does strange things to strange people. No one knows how they will react until the light is on them.

Comment #26

bearhug — Thu, 03 Nov 2005 19:36:36 GMT

nebie, If you wished that you had never won the darn ticket, then why do you call every media station in the world to tell them about it

Comment #25

bellyache — Thu, 03 Nov 2005 18:45:26 GMT

Ummm...no the money doesn't technically belong to everyone who purchased a ticket. The money belongs to the person who won the jackpot. He/she who wins a jackpot, is free to do what they want with the money. Whether they feel like opening their heart and donating or keeping all the money to themselves it's their choice.

Comment #24

BabyJC — Thu, 03 Nov 2005 18:26:47 GMT

I wish this alleged winner never played since there has been such a letdown afterwards instead of the usual excitement. Plus, the jackpot would have rolled over to $400 million Also, if this kid did wait until next year when he turns 18 to claim the jackpot, I don't think it would matter as they would go by his birth date anyhow and see he was a minor when he purchased the ticket (which is the determining factor).

Comment #23

konane — Thu, 03 Nov 2005 15:32:30 GMT

I yield to your wisdom!!! Private property ownership plus when you actually legally own it seems to be very hazy area of understanding nowadays. Must be some lapses in the education system.

Comment #22

Chewie — Thu, 03 Nov 2005 15:13:04 GMT

Konane, you're trying to confuse him with facts. Facts require an understanding of the principle. Not easily acceptable when the term opinion is not understood.

Comment #21

konane — Thu, 03 Nov 2005 14:55:09 GMT

everyone who purchased a Powerball ticket owns a piece of that jackpot in some way or another if you really stop to think about it Everyone who purchases a ticket purchases a chance to win but the actual winning or owning of the jackpot is not guaranteed to any specific one of that group.No one owns any portion of the jackpot until numbers are drawn to see if or how many numbers were matched.Buying a chance to win is buying an intangible until the fat lady sings and any potential winning tick... [ More ]

Comment #20

kruby — Thu, 03 Nov 2005 04:42:34 GMT

No, you're correct..............there isn't anything legally written anywhere stating you have to do good things with the winnings and yes, no one can tell the winner what to do with it all. However, in a way, technically it isn't all Mr. West's (presumed) money............everyone who purchased a Powerball ticket owns a piece of that jackpot in some way or another if you really stop to think about it.............he just happens to be the lucky bugger whose numbers got picked allowing him to w... [ More ]

Comment #19

konane — Thu, 03 Nov 2005 01:09:52 GMT

Chewie .... can tell you're a real push over for a hard luck story ..... Not

Comment #18

Chewie — Thu, 03 Nov 2005 00:57:32 GMT

Here here. The bottom line is, it's nobody's business but his what he does with the money. He might very well be planning to give to charity but is heeding the words of Jesus quoted above. Or maybe he feels like it's best not to make too many public promises. Or both. But the bottom line is he doesn't owe the public a report of what he is going to do with the money.Exactly. No matter whether he won, or some one else won, its their money and they have no obligation outside of their circle. Mank... [ More ]

Comment #17

murdoog — Thu, 03 Nov 2005 00:31:21 GMT

Comment #16

bellyache — Wed, 02 Nov 2005 23:13:07 GMT

Well if it's true, I think it's kind of strange. I mean he hasn't even validated his ticket yet and he is already wishing that he hadn't won. That is of course if he really did say that on the news this morning.

Comment #15

libra926 — Wed, 02 Nov 2005 23:08:20 GMT

NOVEMBER....2ND......OOOHHHHH BOY..I'M LOVIN THIS......LOL.OLOLOLOL 1) Yes Rock......In an interview for Good Morning America, West told them that his wife said to him that, because winning would change their lives, perhaps they shouldn't have purchased the tickets at all. That statement bothered me as well, as I expressed in another Blog. Let's face it, nobody ever played the Lottery, either 1st time or 100th time, for the purpose of NOT WINNING.2) CHEWIE: AS usual your statements are tooooo... [ More ]

Comment #14

Chewie — Wed, 02 Nov 2005 18:25:30 GMT

We know two things.Some one won.No one has turned in the winning ticket.As of this very minute, my telling you I am pregnant, has the same validity as some guy named West saying he won the money.

Comment #13

JAG331 — Wed, 02 Nov 2005 18:16:18 GMT

Jack Whittaker's wife has made such a statement!I can't imagine that Mr. West would already be wishing it all a dream

Comment #12

rock_nc — Wed, 02 Nov 2005 17:56:08 GMT

i don't know whether this is true or not,but a friend at work told me that Mr. West had said on Good Morning America, that he wished he had never bought that lottery ticket, did anyone of you hear that...

Comment #11

tg636 — Wed, 02 Nov 2005 15:27:30 GMT

It is annoying, but so what, it's his money and his spotlight to do and say whatever he wants. If it was me or you we would do something different. As for charity, Matthew 6:1 says that announcing your good works is personal vanity and will not be rewarded in heaven, so I hope that the wealthy help people quietly. I like to think not all charity is announced at a press conference.>You just cannot convince me that this guy has never even had a plan enter his lucky little head. And then to say b... [ More ]

Comment #10

Chewie — Wed, 02 Nov 2005 14:55:12 GMT

I atleast know good things were done with it to make others less fortunate happy.Where does it say in the charter of any lottery, that some one has to do good things with money? That appears to be a purely liberal attitude about some one elses wealth. Karl Marx is about to rise from the grave. You have money, you must share it with those who don't, or you are not a good person. Take from the wealthy, give to the poor. You'll feel better inside.BULL - Its all propaganda!Buy a Porterhouse stea... [ More ]

Comment #9

acronym007 — Wed, 02 Nov 2005 14:19:55 GMT

If there is a rumor he bought it, I would venture a guess that there may be some truth to it but does it matter? His parents can claim it and no one can prove his parents didn't buy the ticket. Maybe they are waiting to clain the money after they get their stories straight so no one says something different. Who knows....

Comment #8

dvdiva — Wed, 02 Nov 2005 06:22:48 GMT

The time to claim in OR is one year. The time for WA is 180 days. Other states I have no idea.

Comment #7

kruby — Wed, 02 Nov 2005 03:31:42 GMT

I just have to get something off my chest about this latest Powerball supposed winner and I figured a message board of this nature was as good of a place as any to do it.............maybe no one cares or even feels the same, but here goes................. I realize it's important to take your time and get your ducks in order when you win these largest jackpots in history lotteries - because let's face it, I for one would be awful disappointed if someone irresponsible won it and just went... [ More ]

Comment #6

JimmySand9 — Tue, 01 Nov 2005 23:12:01 GMT

Oh no, a 17-year old playing the lottery. He's going to be scarred for life.C'mon seriously. It's illegal, I know. But so is jaywalking, and I don't see any one investigating that. Now if he was 7 years old, that would be different.

Comment #5

CASH Only — Tue, 01 Nov 2005 20:17:30 GMT

diva:That would not work in a state like Florida in which winners have 60 days from the DRAWING to claim, or then they are forced to take annuity. I hope OR doesn't work that way.

Comment #4

dvdiva — Tue, 01 Nov 2005 20:00:58 GMT

For tax reasons I don't think they are going to cash it this year. I bought tickets when I was 17. Since you can wait a year to claim tickets he could just wait until he's 18 to claim it.

Comment #3

dutchesskitty — Tue, 01 Nov 2005 18:59:37 GMT

JUST GIVE IT TO ME AND ALL WILL BE WELL! for me anyway

Comment #2

Chewie — Tue, 01 Nov 2005 17:35:58 GMT

Does the word dysfunctional come to mind

Comment #1

bellyache — Tue, 01 Nov 2005 16:45:33 GMT

Looks like someone may have been reading this board. Some people here thought West's son purchased the ticket.

Rumors of minor’s lottery buy unfounded

Lottery Post — Tue, 01 Nov 2005 16:11:18 GMT

Oregon lottery officials said Monday there's no truth to reports that they're investigating whether a 17-year-old bought a $340 million Powerball lottery ticket believed to belong to a Medford family.Representatives from the state Attorney General's Office and the Oregon Lottery Commission denied a Portland television station's report that they are looking into allegations that a minor bought the ticket reportedly held by local landscaper Steve West. We have no reason to believe a 17-year-old pu... [ More ]