So what if you're best friend won the lottery??Prev TopicNext Topic

• Ronnie316

  100

  United States
  Member #116,263
  September 7, 2011
  20,243 Posts
  Offline
  May 1, 2013, 11:19 am

  ▲▼
  In response to whiteballz

  Quote: Originally posted by whiteballz on May 1, 2013

  they can start by getting rid of the TSA.

  You could possibly get 90% public support on that idea. I think the entire DHS idea was idiotic. The whole idea of "security forces" reminds me of some middle eastern bs.
• billionaire2bee

  United States
  Member #130,809
  July 25, 2012
  1,636 Posts
  Offline
  May 1, 2013, 1:44 pm

  ▲▼
  In response to whiteballz

  Quote: Originally posted by whiteballz on May 1, 2013

  I don't see why you would have to split the prize 50-50. If a friend and myself bought a $1 mega millions ticket with money we pooled together, I paid 90 cents and my friend paid 10 cents, does that mean my friend is entitled to 50 percent of the money?

  It doesnt matter what you believe you should pay....a JUDGE could decide you need to end up splitting it...i.e William Bud Post....bought 100 tickets he gave 40 to a woman friend one of his hit woman friend sued Bud Post paid her half per judicial decision
• billionaire2bee

  United States
  Member #130,809
  July 25, 2012
  1,636 Posts
  Offline
  May 1, 2013, 1:46 pm

  ▲▼
  In response to Ronnie316

  Quote: Originally posted by Ronnie316 on May 1, 2013

  You could possibly get 90% public support on that idea. I think the entire DHS idea was idiotic. The whole idea of "security forces" reminds me of some middle eastern bs.

  Wow i thought I was the only one who thought the DHS was a waste of tax payers dollars....just more letters for the alphabet soup
• Artist77

  

  United States
  Member #121,739
  January 16, 2012
  8,817 Posts
  Offline
  May 1, 2013, 5:19 pm

  ▲▼
  In response to Ronnie316

  Quote: Originally posted by Ronnie316 on May 1, 2013

  You could possibly get 90% public support on that idea. I think the entire DHS idea was idiotic. The whole idea of "security forces" reminds me of some middle eastern bs.

  I agree. I know a number of people who work there and supposedly it is not a great place to work. You have to remember you have other parties with jurisdiction like the FBI, states, DOJ, local police, even the military in an "event" type situation and the problem has always been with info sharing and cooperation among these individuals.This just added another layer to the turf wars or the old Al Haig claim of  "I am in charge here."

  
• mikeintexas

  

  Texas Panhandle
  United States
  Member #136,837
  December 20, 2012
  1,660 Posts
  Offline
  May 2, 2013, 1:34 am

  ▲▼
  In response to Ronnie316

  Quote: Originally posted by Ronnie316 on May 1, 2013

  Why would the government charge a gift tax on money that has already been taxed at 25%+ ?

  I could be wrong - and that's always a distinct possibility - but from what I've read, the 25% is what is immediately withheld from the payout.  Anything over $400k is taxed at the rate of 39.6% this year, up from 35% last year.  So, you'd owe another 14.6% when tax day rolled around again. (not taking into account any other income you have)
  
  I did some quick figuring on that the other day and if you won the lottery this time of year, you'd still have over half a year to pay the balance.  If you won the Powerball and socked away the rest of the amount you owed in a low-paying six month jumbo CD, you'd still make quite a bit of money.
  
  The gub'ment gets theirs. The days of govt. for/of/by the people ended a century ago.  There are a lot of taxes that are unfair and IMHO, unconstitutional.  I don't own a very nice house, but I've lived in it 20 yrs. and have purchased it all over again, what with my property taxes.   I also don't understand why savings profits are taxed the way they are.

  Epstein didn't kill himself.
• whiteballz

  

  Nutley, New Jersey
  United States
  Member #131,052
  August 1, 2012
  904 Posts
  Offline
  May 2, 2013, 8:55 pm

  ▲▼
  In response to mikeintexas

  Quote: Originally posted by mikeintexas on May 2, 2013

  I could be wrong - and that's always a distinct possibility - but from what I've read, the 25% is what is immediately withheld from the payout.  Anything over $400k is taxed at the rate of 39.6% this year, up from 35% last year.  So, you'd owe another 14.6% when tax day rolled around again. (not taking into account any other income you have)
  
  I did some quick figuring on that the other day and if you won the lottery this time of year, you'd still have over half a year to pay the balance.  If you won the Powerball and socked away the rest of the amount you owed in a low-paying six month jumbo CD, you'd still make quite a bit of money.
  
  The gub'ment gets theirs. The days of govt. for/of/by the people ended a century ago.  There are a lot of taxes that are unfair and IMHO, unconstitutional.  I don't own a very nice house, but I've lived in it 20 yrs. and have purchased it all over again, what with my property taxes.   I also don't understand why savings profits are taxed the way they are.

  Good thing you are in Texas. Most states add state income tax on top of the 39.6% federal income tax.

  The government will get theirs but the thing is, even with high taxes, the goverment deficit is never reduced because goverment spending is much larger than the amount of tax money brought in.

  .