POLL: If you win a huge jackpot...Prev TopicNext Topic

• Coin Toss

  

  Zeta Reticuli Star System
  United States
  Member #30,469
  January 17, 2006
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  May 3, 2013, 5:18 pm

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  Who do you think would be the first to put "the bite" on you?

  Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners. 

  

  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.
• whiteballz

  

  Nutley, New Jersey
  United States
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  August 1, 2012
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  May 3, 2013, 6:10 pm

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  I voted, "other." There should have been an option for federal/state government. Before I'd even get the check, 25% would be withheld for federal income tax, then I'd owe even more when I file my income tax at the end of the year because the top marginal tax rate is 39.6%.

  Giving to family, charities, etc are all voluntary, try not paying your taxes and see what happens.

  .
• rdgrnr

  

  100

  The Hall Of The Mountain Kings Tennessee
  United States
  Member #73,902
  April 28, 2009
  15,378 Posts
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  May 3, 2013, 8:11 pm

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  Probably the professional beggars who prey on lottery winners.
• sully16

  

  25

  Ringleader

  Michigan
  United States
  Member #81,738
  October 28, 2009
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  May 3, 2013, 8:23 pm

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  I voted other, pretty sure the rotten government will take the biggest bite and will continue to chew away at every given opportunity.

   
• four4me

  

  MD
  United States
  Member #1,701
  June 18, 2003
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  May 3, 2013, 8:26 pm

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  CT    You missed an important choice = Everybody

  Big John says. You don't hit the number. The number hits you!!!!

                 I'm not Big John, I'm Four4me, Big John's a friend.
• dallascowboyfan

  

  Oklahoma
  United States
  Member #82,389
  November 12, 2009
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  May 3, 2013, 11:01 pm

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  Uncle whats his face

  I Love Pink & Green 1908
• Coin Toss

  

  Zeta Reticuli Star System
  United States
  Member #30,469
  January 17, 2006
  11,788 Posts
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  May 4, 2013, 12:16 am

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  Thanks for the replies, I just figured taxes as a known 'given' for everyone.

  Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners. 

  

  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.
• RedStang

  

  NY
  United States
  Member #121,955
  January 21, 2012
  3,169 Posts
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  May 4, 2013, 12:54 am

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  In response to whiteballz

  Quote: Originally posted by whiteballz on May 3, 2013

  I voted, "other." There should have been an option for federal/state government. Before I'd even get the check, 25% would be withheld for federal income tax, then I'd owe even more when I file my income tax at the end of the year because the top marginal tax rate is 39.6%.

  Giving to family, charities, etc are all voluntary, try not paying your taxes and see what happens.

  Right, the taxman has teeth like a Beaver.

  
• Saylorgirl

  

  Indiana
  United States
  Member #129,219
  June 13, 2012
  595 Posts
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  May 4, 2013, 6:51 am

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  In response to whiteballz

  Quote: Originally posted by whiteballz on May 3, 2013

  I voted, "other." There should have been an option for federal/state government. Before I'd even get the check, 25% would be withheld for federal income tax, then I'd owe even more when I file my income tax at the end of the year because the top marginal tax rate is 39.6%.

  Giving to family, charities, etc are all voluntary, try not paying your taxes and see what happens.

  I agree with this you don't even collect the check before they take the first bite and the second is just months away!
• whiteballz

  

  Nutley, New Jersey
  United States
  Member #131,052
  August 1, 2012
  904 Posts
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  May 4, 2013, 8:04 am

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  In response to Coin Toss

  Quote: Originally posted by Coin Toss on May 4, 2013

  Thanks for the replies, I just figured taxes as a known 'given' for everyone.

  taxes are definitely a given but I don't think most people who play the lottery are aware of their tax obligations. I bought Sandra Hayes's book off amazon, she wrote about her experience winning powerball. In the book she thought the 25% federal withholding that was taken out automatically before she got her check was all she had to pay and she was shocked to find out she owed even more taxes at the end of the year.

  .
• CDanaT

  

  Central TN
  United States
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  January 4, 2012
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  May 4, 2013, 10:10 am

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  I was thinkin'...with a new cell phone #, a temp move to a rental and the mail on hold.....I don't think anyone will be getting ahold of me  But I have been wrong before.

  Si vis pacem, para bellum.
• helpmewin

  

  100

  u$a
  United States
  Member #106,660
  February 22, 2011
  19,960 Posts
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  May 5, 2013, 3:55 am

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  In response to Coin Toss

  Quote: Originally posted by Coin Toss on May 3, 2013

  Who do you think would be the first to put "the bite" on you?

  i would hope to get some from people i don't know 

  
• joshuacloak

  

  United States
  Member #32,536
  February 12, 2006
  711 Posts
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  May 5, 2013, 3:30 pm

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  i find any powerball/mega millions winner like Sandra Hayes to be morons

  who the hell claims such a large jackpot  and then has no idea about more taxes then 25% withholding rates 

  its like did they even brother to talk to a lawyer who even understand taxes ? who could of told them about tax rate being much higher then 25%

  no sir, no these "special retards" of winners

   

  i vote other,

  the top bite will come form your own self, a lot of lottery winners are there  own worst enemy.

  stupid can't be fixed, stupidity before lottery win  is on steroids atfer a win ..............

   

  now besides stupid people being there own worst enemy/bite  , for smart people it be......

   

   worst bite for young people would be parents"we taken care of u all these years , u owe us some money"

  and for old people, "we kids always been given stuff,why stop the pattern now,  hand it over dad/mom "   

  ya family  a beep like that, even smart people got to deal with it.

  as for other options on list, ,  a smart winner can avoid all that, just claim in trust/whatever and have no one Know,  ofc parents/kids will know,hance why i bring them up

   

  also to any sucker"real special in mind " that takes  Annuity,  inflation is a bitch,and it bite u more then anything

  take a look at  1993, 30 years ago, it be about 61.1% inflation sense then to 2013

  that major lost over time.

  u need investments that pay a nice % yes , but also keep principal etc above inflation while earning more

  hance why i said yourself is best enemy ,

  i dont see many lottery winners who are richer then they was when they WON over long term

  this makes no sense to someone like me,  who reads investment stuff,and understands rich should be getting richer as rule

  give me 100m and i have 107m in 1 year 

  to claim more then around 7% will,  u better be ready to beat the market, gl on that one.

  hell even dumbest people could earn millions, just pick divind index funds

  index funds just try to mirror market returns, aka they don't even try to outsmart the market, its just large collection of top dividend stocks overall,

  its like how stupid can these lottery winners of past be

  , do they even brother going to people who manage big bucks, sure as hell not looks like it,

  so i always say claim largest bait is form lottery winner them self,  then family, and not guy next door they went to for help

   

  guy next door invester is just as stupid as u folks    u don't go to people for investment idea's who manage cilents with accounts with less money then u

  u go to freaking investers who manage big money,  if your dumb, u go guy next door, have fun with results.

  it blows my mind how much money lottery winners can waste,  god bless them for entertainment value thro, 

  i enjoy news stories

  "ofc i understand the fact some are richer now then when they  lottery  ", they just don't show them selfs to public,and all we get is majority of loser lottery stories vs few richer over time stories."

   

   

   

  One tequila, two tequila, three tequila, floor.
• savagegoose

  

  adelaide sa
  Australia
  Member #37,135
  April 11, 2006
  3,341 Posts
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  May 5, 2013, 4:14 pm

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  i didnt vote, needed an all of the above option.

  " Still swinging, still missing "
  2014 = -1016; 2015= -1409; 2016  = -1171; 2017 = -1257 ; 2018 = - 1380 =  TOT =  - 6233

  keno historic = -2291 ; 2015= -603; 2016= -424; 2017 =-427; 2018= -223   TOT = -3968

  :