And winner takes all

Reply #10

HiFi — Wed, 07 Jul 2004 06:35:01 GMT

in 1992 they made some tax on all large lottery prizes to have a mandatory 25% federal witholding ..then you have to factor in state tax.Massachusetts 5% state income taxassuming the 145 CASH optionhe will get $101,500,000.

Reply #9

Ozzie Dan — Wed, 07 Jul 2004 05:32:29 GMT

you could always move to downunder and with the exchange rate you might pick anextra 30 million or so

Reply #8

Tx_Mega_Player — Wed, 07 Jul 2004 03:45:36 GMT

Quote: Originally posted by whodeani on July 05, 2004The top 10% of wage earners pay 65% of the total taxes collected every year. I would say they are paying more than their fair share.The income of the top 10% of wage earners accounts for at least 80% of all income earned. Fair share

Reply #7

Wet Dog — Tue, 06 Jul 2004 03:09:24 GMT

Only 88 million ? I wouldn't be able to quit my job for 88 million. But, I guess it would make a fair supplement to my income.

Reply #6

whodeani — Tue, 06 Jul 2004 02:03:40 GMT

Quote: Originally posted by Tx_Mega_Player on July 05, 2004Quote: Originally posted by HEYPHILLIP on July 04, 2004And just think the demorcrates think the rich don't pay there fair share of taxes. this is an example of just how much taxes are payed by the rich.I certainly hope that the republicans can come up with a better example than lottery winners of the rich paying their fair share of taxes. The top 10% of wage earners pay 65% of the total taxes collected every year. I would say they are pa... [ More ]

Reply #5

pacemaker — Mon, 05 Jul 2004 13:26:36 GMT

only 88 million.....bummer

Reply #4

Tx_Mega_Player — Mon, 05 Jul 2004 08:20:10 GMT

Quote: Originally posted by HEYPHILLIP on July 04, 2004And just think the demorcrates think the rich don't pay there fair share of taxes. this is an example of just how much taxes are payed by the rich.I certainly hope that the republicans can come up with a better example than lottery winners of the rich paying their fair share of taxes.

Reply #3

Tx_Mega_Player — Mon, 05 Jul 2004 08:11:34 GMT

Quote: Originally posted by HEYPHILLIP on July 04, 2004DAMN ! out of 290 million the person or persons only take home 88 million.This is a bit mis-leading. If this 88 million dollar figure is correct, it's based on the cash value of the jackpot - which is usually about 1/2 of the advertised jackpot. So in reality the winner would receive 88 million out of the 145 million dollar cash value. I'll never be one to complain about the amount of taxes owed - on lottery winners or on my regular salary.... [ More ]

Reply #2

HEYPHILLIP — Mon, 05 Jul 2004 01:39:07 GMT

And just think the demorcrates think the rich don't pay there fair share of taxes. this is an example of just how much taxes are payed by the rich. DAMN ! out of 290 million the person or persons only take home 88 million.

Reply #1

HiFi — Mon, 05 Jul 2004 01:13:20 GMT

Quote: Originally posted by dphillips on July 03, 2004Talk about dumb luck: the Mega millionaire takes all. Well, because I've hope, I don't have to play Russian Roulette tonight. Okay, I was only joking!It's been reported on the radio that the winner will receive $88 million after taxes. Still, that's a nice payday. The announcer didn't say whether the ticket was a Quick-Pick or regular numbers. Now, no one on this board can convince me that dreams don't come true.Finally, if it's any con... [ More ]

And winner takes all

dphillips — Sun, 04 Jul 2004 00:01:46 GMT

Talk about dumb luck: the Mega millionaire takes all. Well, because I've hope, I don't have to play Russian Roulette tonight. Okay, I was only joking!It's been reported on the radio that the winner will receive $88 million after taxes. Still, that's a nice payday. The announcer didn't say whether the ticket was a Quick-Pick or regular numbers. Now, no one on this board can convince me that dreams don't come true.Finally, if it's any consolation to you: the more you win; the more taxes you... [ More ]