billion dollar win

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penicillin

Member
Joined
Feb 27, 2019
Messages
1,036
I don't judge others who buy lottery tickets, especially if they recognize it as an entertainment expense, like renting a movie. Most don't.

I view the lottery as a tax on math-challenged people. I have never bought a lottery ticket and probably never will. I am not opposed to lotteries or gambling per se, as long as people understand what they are buying for their money, and the basic math behind it. Most don't.

I don't like the government being in the lottery business, which is antithetical to its purpose. In my opinion, all of the promises made to the electorate about funding worthy causes like education were slight-of-hand tricks that enabled the diversion of funds from previous traditional sources. The only benefit I see from the government owned and run lottery is that it is slightly better than having it run by organized crime.

The government-funded advertising just makes it worse. It is not focused on educating the people about what the lottery really is, but preying on their ignorance so it can feed the dream and grow the lottery business to get as much money as they can from peoples' pockets.

Flame away!
 

jttheclockman

Member
Joined
Feb 22, 2005
Messages
19,083
Location
NJ, USA.
I don't judge others who buy lottery tickets, especially if they recognize it as an entertainment expense, like renting a movie. Most don't.

I view the lottery as a tax on math-challenged people. I have never bought a lottery ticket and probably never will. I am not opposed to lotteries or gambling per se, as long as people understand what they are buying for their money, and the basic math behind it. Most don't.

I don't like the government being in the lottery business, which is antithetical to its purpose. In my opinion, all of the promises made to the electorate about funding worthy causes like education were slight-of-hand tricks that enabled the diversion of funds from previous traditional sources. The only benefit I see from the government owned and run lottery is that it is slightly better than having it run by organized crime.

The government-funded advertising just makes it worse. It is not focused on educating the people about what the lottery really is, but preying on their ignorance so it can feed the dream and grow the lottery business to get as much money as they can from peoples' pockets.

Flame away!
Easy does it!!! We all can dream. If you are a heavy gambler than you should not play and if you do that is YOUR!!!!!!!!!!!! problem. You do not need to be led by the hand. Just like drugs. No one told you to turn pens. No one is telling you to play the lottery. Somewhere down the road we need to take responsibility for our own actions. What I do not like about the mega lotteries is that they let the prizes climb that high. I say cut off at $500,000 and then roll over the rest to next drawing. Even if multiple winners win it still will have an effect on their lives. As for running it, if not the gov. then who??? Private enterprise. Yea I trust that.
 

dogcatcher

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Joined
Jul 4, 2007
Messages
2,359
Location
TX, NM or on the road
It is the individuals responsibility to waste their money however they want. The dreams of the penmaker making a few dollars is about the same as the dreams of the lottery player winning a few dollars. The real odds says it won't happen for most people, but both are a trip that some of us enjoy....

As to the question of how much tax, the top bracket is 37%, so after deductions, exemptions and GOOD TAX PLANNING, they should get to keep a little more than 63% of the proceeds.
 

penicillin

Member
Joined
Feb 27, 2019
Messages
1,036
Easy does it!!! We all can dream. If you are a heavy gambler than you should not play and if you do that is YOUR!!!!!!!!!!!! problem. You do not need to be led by the hand. Just like drugs. No one told you to turn pens. No one is telling you to play the lottery. Somewhere down the road we need to take responsibility for our own actions. What I do not like about the mega lotteries is that they let the prizes climb that high. I say cut off at $500,000 and then roll over the rest to next drawing. Even if multiple winners win it still will have an effect on their lives. As for running it, if not the gov. then who??? Private enterprise. Yea I trust that.
Actually someone is telling me to play the lottery. Even if we assume that the government is the best, safest legal entity to run lotteries, I see no justification for why the government should be encouraging people to play through intense, misleading, and expensive advertising. Is that the best use of our government dollars? Spending large sums to build and maximize the growth of an enormous lottery infrastructure? Who really reaps the rewards here? Is that "Government for the people?"

I am all in favor of dreams, fun, a little sin and a little vice, coupled with personal responsibility. I wish that as we do it, we have a full understanding of it and its implications. I decry how our government abuses its position of trust by taking advantage of the ignorance of its own people in its headlong promotion of it ... while few look at the bigger picture.

If you want to say "Easy does it!!" then I say, "Stop and think."

I have said my piece.
 

jttheclockman

Member
Joined
Feb 22, 2005
Messages
19,083
Location
NJ, USA.
Actually someone is telling me to play the lottery. Even if we assume that the government is the best, safest legal entity to run lotteries, I see no justification for why the government should be encouraging people to play through intense, misleading, and expensive advertising. Is that the best use of our government dollars? Spending large sums to build and maximize the growth of an enormous lottery infrastructure? Who really reaps the rewards here? Is that "Government for the people?"

I am all in favor of dreams, fun, a little sin and a little vice, coupled with personal responsibility. I wish that as we do it, we have a full understanding of it and its implications. I decry how our government abuses its position of trust by taking advantage of the ignorance of its own people in its headlong promotion of it ... while few look at the bigger picture.

If you want to say "Easy does it!!" then I say, "Stop and think."

I have said my piece.
Good hope you got that off your chest and you move on to more important things in life. Please do not play the lottery. Hate to lose you to a heart attack. Be well and be safe. :)
 

PreacherJon

Member
Joined
Aug 28, 2019
Messages
650
Location
Ohio
When is was at 680 million... someone figured it out if you took the lump sum... after taxes.. outside of local. You would have around 220 million. So... guestimating the same scenerio for this pay out.... 350 million?
 

sbwertz

Member
Joined
May 11, 2010
Messages
3,649
Location
Phoenix, AZ
I don't buy them either. I'm just not a gambler. We used to go to COMDEX in Las Vegas and I would play the penny slots, or occasionally splurge on the nickel slots! I allowed myself $20 a day, and only once won more than I spent...On the last day, at the airport, I put a dime I had in my pocket in a slot machine and won $70. That was the last year they had COMDEX, and I've never been back.
 
Joined
Sep 24, 2006
Messages
8,206
Location
Tellico Plains, Tennessee, USA.
I don't buy them either. I'm just not a gambler. We used to go to COMDEX in Las Vegas and I would play the penny slots, or occasionally splurge on the nickel slots! I allowed myself $20 a day, and only once won more than I spent...On the last day, at the airport, I put a dime I had in my pocket in a slot machine and won $70. That was the last year they had COMDEX, and I've never been back.
I'm with you Sharon, I've lived in TN for 15 years now and I think I have bought one lottery ticket... just happened to have a dollar come back in change from a purchase at a local quick stop store... splurged, didn't win anything, then remembered how long I had worked to earn that $1.

But back in my single days I did go to Lost Wages once, won enough to pay for the hotel, and the weekend for me and my buddies (4 of us), and only went broke at 6 am just before my flight home. Thats even after I was up several hundred on a blackjack table, but my eye balls were about to float out of my head, so I sat my buddy at the table to "watch" my chips while I went to relieve myself... I returned to the table to find he had lost over half of my winnings -- never leave a bad gambler in charge of your money.

The weekend started well, after we checked in the hotel, we were walking across the lobby, I stuck a quarter in the one arm bandit as I passed... I think the jackpot was about $50 or $75.... up from there, but in the end, the house will usually win if you play long enough.
 

Curly

Member
Joined
Nov 20, 2010
Messages
4,828
Location
Saskatoon SK., Canada.
I pay to dream but the big difference between our lotteries and yours. No tax of any kind on the winnings. You will have to pay on the interest you make after of course. We don't have the population you do so it is rare for one to get to 70 million much less more.
 
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