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Cash vs annuity, another factor to consider?

Topic closed. 35 replies. Last post 4 years ago by mightwin.

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sully16's avatar - sharan
Ringleader
Michigan
United States
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October 28, 2009
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Posted: February 9, 2013, 4:57 pm - IP Logged

Good grief, ANOTHER thread complaining about taxes?!??!  Are you people always this miserable?

Work your butt off and have someone take it away, tell us how happy you would be?

Did you exchange a walk on part in the war ?

For a lead role in a cage?

 

                                            From Pink Floyd's " Wish you were here"

    maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
    Massachusetts
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    Posted: February 9, 2013, 7:44 pm - IP Logged

    Annuities are for those who fear challenges IMHO. I sure would not be waiting every january for checks that I could have had in one january.

    YOLO is my lifelong philosophy

      rdgrnr's avatar - walt
      Way back up in them dadgum hills, son!
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      Posted: February 9, 2013, 9:31 pm - IP Logged

      Good grief, ANOTHER thread complaining about taxes?!??!  Are you people always this miserable?

      You might be miserable too if you didn't still live in mommy's basement, mediumbratwurst.

      The rest of us actually have bills to pay believe it or not.

      Ok now, back to your Gears of War or Grand Theft Auto or whatever you're playing today.

        mediabrat's avatar - 18z0typ
        upstate NY
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        Posted: February 10, 2013, 10:50 am - IP Logged

        You might be miserable too if you didn't still live in mommy's basement, mediumbratwurst.

        The rest of us actually have bills to pay believe it or not.

        Ok now, back to your Gears of War or Grand Theft Auto or whatever you're playing today.

        Awww, I love you too, sweetie.  Come 'ere, give us a big ol' kiss!  Mmmmmmm-wha!!!  Love

        Patriot

          rcbbuckeye's avatar - Lottery-043.jpg
          Texas
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          October 23, 2007
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          Posted: February 10, 2013, 10:59 am - IP Logged

          Cash option. Always. Don't trust them with the money. Who says "Oops, the markets crashed, we can't pay the annuity this year" can't happen. Besides, at my age I don't care about the interest (non-existent), I would care about money preservation. With about 3 or 4 million I could just live off the principle for 25 years until I die.

          CAN'T WIN IF YOU'RE NOT IN

          A DOLLAR AND A DREAM (OR $2)

            maximumfun's avatar - Lottery-030.jpg
            Lavender Rocket

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            Posted: February 10, 2013, 11:27 am - IP Logged

            Awww, I love you too, sweetie.  Come 'ere, give us a big ol' kiss!  Mmmmmmm-wha!!!  Love

            mediabrat!  i had no idea that you had joined the 'we love ridge' fanclub!  i am a member as well!!!

             

            **HUGZ out to RIDGE!!!**  (giggle)

              Avatar
              NY
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              Posted: February 11, 2013, 12:48 am - IP Logged

              Miserable is your perception.

              There's just more things to consider with the new tax rates.

              Threads like this must make people in countries that don't tax gambling wins wonder why the U.S. does.

              "There's just more things to consider with the new tax rates."

              There's nothing new to consider. It's just the way it was last year, the year before that, and so on. You decide what your own goals and preferences are. You consider what current tax rates are compared to how they might change and what happens if they do. You consider current investmen rates and what they might be in the future.

              Tax rates may go up in the future, they may stay the same or they may go down. The only thing that's positive about taxes is that unless there's a major change to the tax code taking the lump sum results in paying the highest rate on a bigger percentage of the prize. Based on 2013 tax rates, a taxable income of 425k from a lottery prize would result in a federal tax bill of just over $121k. An additional $425k in taxable income would add another 168k to the tax bill. By taking the annuity and paying  lower rates on the first $425k each year you'd be saving that $47k every year, assuming rates remain the same. If rates only stayed the same on the first 425k but went up on higher incomes you still might pay less in taxes. If you were getting an annuity payment of $1 million each year it would take an increase of almost 9% to wipe out the $47k advantage.  And that's before accounting for the similar advantages in state taxes.

                Coin Toss's avatar - shape barbed.jpg
                Zeta Reticuli Star System
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                Posted: February 11, 2013, 1:05 am - IP Logged

                Yes Floyd, and the income tax passed in 1913 was indeed a temporary tax to finance WW I.

                I don't think your answer above considered the government is spending like it's never spent before and a few other things going on.

                Nice answer, but you might want to consider a certain manifesto that is the current regimes' playbook. Has a lot to so with a steadily progressive tax system that eventually wipes out the middle class.

                Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                Lep

                There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                  savagegoose's avatar - ProfilePho
                  adelaide sa
                  Australia
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                  Posted: February 11, 2013, 2:05 am - IP Logged

                  Peter Schilff said it best when he said " a medeival peasant was only taxed, %20, 10 to the church and 10 to the local lord. I only wish I had it so good. "

                  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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                    Posted: February 11, 2013, 3:53 pm - IP Logged

                    Work your butt off and have someone take it away, tell us how happy you would be?

                    If you consider someone handed you more money than you or your kids and great great grandkids could ever make combined...........they can take what they want long as Im still a millionaire in the end.....end of story....LOL

                      rdgrnr's avatar - walt
                      Way back up in them dadgum hills, son!
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                      Posted: February 11, 2013, 5:10 pm - IP Logged

                      If you consider someone handed you more money than you or your kids and great great grandkids could ever make combined...........they can take what they want long as Im still a millionaire in the end.....end of story....LOL

                      "they can take what they want long as Im still a millionaire in the end"

                      Man, you're easy.

                      I thought you were the guy who knew how to say no?

                      Why are you so willing to be chumped by the politicians?


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                        Posted: February 11, 2013, 5:14 pm - IP Logged

                        "they can take what they want long as Im still a millionaire in the end"

                        Man, you're easy.

                        I thought you were the guy who knew how to say no?

                        Why are you so willing to be chumped by the politicians?

                        Only because they're gonna take what they're gonna take....you can't fight it...we vote..... things dont change....hey if they want to take the 32% (my state) and I've got ooodles of cash left....ok I mean Im not fine with it 100%....but what you gonna do?? Fight the system and go to jail...no thanks.....i'll take the millions thank you

                          rdgrnr's avatar - walt
                          Way back up in them dadgum hills, son!
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                          Posted: February 13, 2013, 12:15 am - IP Logged

                          Only because they're gonna take what they're gonna take....you can't fight it...we vote..... things dont change....hey if they want to take the 32% (my state) and I've got ooodles of cash left....ok I mean Im not fine with it 100%....but what you gonna do?? Fight the system and go to jail...no thanks.....i'll take the millions thank you

                          This nation was founded by people who fought the system.

                          We're no more represented under the current government's crushing taxes than we were under those imposed by King George.

                          And he got his royal ass kicked for it.

                          But that was back when men were men.

                          And those men wouldn't put up with half the crap we put up with now.

                          I'd rather have lived then than now.

                          And never have witnessed what became of us.

                            Avatar
                            Minneapolis, MN
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                            Posted: February 13, 2013, 12:33 am - IP Logged

                            The government will make cheaters out of all of us.

                              weshar75's avatar - Lottery-042.jpg
                              Mcminnville, Oregon
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                              Posted: February 13, 2013, 12:34 am - IP Logged

                              I would like the cash option myself and pay the taxes in one year not thirty.  It would be fun to call the bank every day and check my bank account and have them tell me I am a multi-millioniare over and over again.  That would be great!-weshar75

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