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I Only Post Everything
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Re: 600 million dollar lottery

May 20, 2013
A good old friend of mine is a mathematic professor. I still laugh when he one day said "The lottery is a tax on the mathematically challenged." Smiley Tongue I tend to think this is true. I VERY rarely purchase lottery tickets. I only look to get one, at most two, when the jackpots are so high that if I were to win I would be able to quit work right then and there and spend the rest of my life in retirement. That doesn't happen all that often, so I only scrounge up some change I have lying around the house and pick up one or two tickets. It sickens me when I stop at a convenience store and see someone who, soley based on dress and cleanliness, probably shouldn't be spending so much money on lottery tix, cashing in a scratch-off ticket for $50 and then immediately spend all of that back on more tickets.

For the lucky owner of the winning ticket in Florida, there are a few things that I am really hoping for:

1): That this person is NOT already absolutely wealthy and has no real need for this much additional money. MANY years back, when there was a $250,000,000 Powerball jackpot I believe, the winner was an oil tycoon from the Carolinas who already had a net worth approaching a billion dollars. I remember the press conference he requested to be held and his daughter was up on stage with track marks all over the place and obviously in the middle of a "binge". It was disheartening to see that some individual who already had more money than they could responsibly deal with was suddenly getting even more.

2): That if the person who won is an older individual, that they have plenty of familiy whom they can pass the winnings along to instead of the money just vaporizing when the person passes on. E.g. I don't want to see some 93 year old single woman with no family winning this money, then just hoarding it to herself and seeing it vanish when she passes on.

3): That it's a ticket bought by a pool of ticket buyers working long hours in a difficult job. This would be my greatest hope. That a group of 30 or so co-workers put money into a pool in order to buy the tickets, and that they got the winner and can divy up the money between them and not have to work the hard, long hours they are currently working.
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Big Daddy
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Re: 600 million dollar lottery

May 20, 2013

Jdurg wrote:
A good old friend of mine is a mathematic professor. I still laugh when he one day said "The lottery is a tax on the mathematically challenged." Smiley Tongue I tend to think this is true. I VERY rarely purchase lottery tickets. I only look to get one, at most two, when the jackpots are so high that if I were to win I would be able to quit work right then and there and spend the rest of my life in retirement. That doesn't happen all that often, so I only scrounge up some change I have lying around the house and pick up one or two tickets. It sickens me when I stop at a convenience store and see someone who, soley based on dress and cleanliness, probably shouldn't be spending so much money on lottery tix, cashing in a scratch-off ticket for $50 and then immediately spend all of that back on more tickets.

For the lucky owner of the winning ticket in Florida, there are a few things that I am really hoping for:

1): That this person is NOT already absolutely wealthy and has no real need for this much additional money. MANY years back, when there was a $250,000,000 Powerball jackpot I believe, the winner was an oil tycoon from the Carolinas who already had a net worth approaching a billion dollars. I remember the press conference he requested to be held and his daughter was up on stage with track marks all over the place and obviously in the middle of a "binge". It was disheartening to see that some individual who already had more money than they could responsibly deal with was suddenly getting even more.
Oh I have GOT to see this!

2): That if the person who won is an older individual, that they have plenty of familiy whom they can pass the winnings along to instead of the money just vaporizing when the person passes on. E.g. I don't want to see some 93 year old single woman with no family winning this money, then just hoarding it to herself and seeing it vanish when she passes on.
Yea, thats kinda sad.... hopefully she'd be able to have wrote in her Will to spread that wealth around to other family members


3): That it's a ticket bought by a pool of ticket buyers working long hours in a difficult job. This would be my greatest hope. That a group of 30 or so co-workers put money into a pool in order to buy the tickets, and that they got the winner and can divy up the money between them and not have to work the hard, long hours they are currently working.
This is actually how a lot of people play the lottery. 

 

Furiously Chaosing
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Big Daddy
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Re: 600 million dollar lottery

May 20, 2013

shadowstalker100 wrote:

just a heads up:

NEVER play the lottery in Florida

the person who won must come public due to Florida law

pic and name released


Many states have such laws, but there are ways around it to maintain anonymity. 

Furiously Chaosing
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Treasure Hunter
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Re: 600 million dollar lottery

May 20, 2013

gR3yGh051 wrote:

mcbuttz78 wrote: 

 btw id get this car.

 

images.jpg

 

 

  


No you wouldnt..... they only made 4 of them. One is the Grey, which is called "Concept Zero" and will go into Lamborghini's personal museum. The other 3 have all been sold for $4million. They are painted in the colors of the italian flag... one car is red, one is White, and one is Green.
They have all been sold, even before the public knew about the car.

2 of them are going to US collectors.

 

Someone who just paid $4million+ for a one-off show car based on the Aventador, is not going to sell it.

 

You'll have better luck asking Lamborghini to build you the Egoista... or find someone who has a Reventon they're willing to sell


 they  will sell/build you one if have the money and the proper credit rating.

Mcbuttz78

vp-psn legioniaree group.

Seek wisdom, not knowledge. Knowledge is of the past, Wisdom is of the future

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Re: 600 million dollar lottery

May 20, 2013

gR3yGh051 wrote:

Setzaroth wrote:

the Lottery is such a sham...I cant believe any of you are dumb enough to participate...well...maybe I can...


Actually, it isn't.

The reason why many people think so, is beause of the odds of winning are so high that you'd seriously have a better chance at being struck by lightning or in a plane crash. god forbid either happens as I dont wish such things on others.

A friend of my father's won $50million Florida lottery nearly 20 years ago. He's retired and living off the interest. 

I have a friend of my own who won $250k off of a scratch off...... so theres that too. She went to school and bought herself a nice modest home.

While it may be hard to believe, it may be improbable, but its not impossible.


Every state  has a diferent tax rate, some have none on lottery winning ..Reply 1st post up. when talking about payout and texes

 The lottery is sham actually its comes  gangster  racket  bingo(  running numbers). You got no  real chance of winning and when you do. they  take a big  cut of it as tax.To keep the game going. Its alot better use for the money than this.. which i do agree its sham in way..

 

 I dont play lottery.. nevr have beyond a scracth ticket with  the young co worker near the holidays or birth days. It good to see win alittle money if they do

Mcbuttz78

vp-psn legioniaree group.

Seek wisdom, not knowledge. Knowledge is of the past, Wisdom is of the future

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I Only Post Everything
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Re: 600 million dollar lottery

May 21, 2013
Okay, just have to say that my memory of the oil tycoon was a bit off. I did a search and the guy's name is Jack Whittaker. He wasn't an oil tycoon, but was the president of a contracting firm in West Virginia (not the Carolinas) who already had a net worth of $17 million when he wont the $314,000,000 jackpot in 2002.

The guy did some good things and donated a bunch of money to charity and really gave a lot to the clerk who sold him the ticket, but he hasn't exactly been a smart or good person with money. He apparently would carry around obscene amounts of cash in suitcases in his car, where on multiple occasions his car was broken into and the HUGE amounts of cash were stolen. (When he was asked why he carried the cash around in his car, he kind of smugly said "Because I can.").

In 2003 he was arrested for a DUI, his granddaughter's boyfriend was later on found dead due to a massive overdose of drugs, and his granddaughter was found dead shortly thereafter due to a drug overdose. (So it was his granddaughter that was all drugged up on the stage there, not his daughter).

So in the end, the guy did do a lot for charity with his money, but was also really careless and wreckless with it and obviously didn't see that his family had some major drug issues that he should have spent his money on.

It's still painful that a guy who is already a very successful businessman with a great deal of money already wound up winning all of that jackpot. That's the type of thing that really gets my goat. Smiley Tongue
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Big Daddy
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Re: 600 million dollar lottery

May 21, 2013

mcbuttz78 wrote:

gR3yGh051 wrote:

mcbuttz78 wrote: 

 btw id get this car.

 

images.jpg

 

 

  


No you wouldnt..... they only made 4 of them. One is the Grey, which is called "Concept Zero" and will go into Lamborghini's personal museum. The other 3 have all been sold for $4million. They are painted in the colors of the italian flag... one car is red, one is White, and one is Green.
They have all been sold, even before the public knew about the car.

2 of them are going to US collectors.

 

Someone who just paid $4million+ for a one-off show car based on the Aventador, is not going to sell it.

 

You'll have better luck asking Lamborghini to build you the Egoista... or find someone who has a Reventon they're willing to sell


 they  will sell/build you one if have the money and the proper credit rating.


No they wont. And you don't even know.

Furiously Chaosing
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Big Daddy
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Re: 600 million dollar lottery

[ Edited ]
May 21, 2013

Jdurg wrote:
Okay, just have to say that my memory of the oil tycoon was a bit off. I did a search and the guy's name is Jack Whittaker. He wasn't an oil tycoon, but was the president of a contracting firm in West Virginia (not the Carolinas) who already had a net worth of $17 million when he wont the $314,000,000 jackpot in 2002.

The guy did some good things and donated a bunch of money to charity and really gave a lot to the clerk who sold him the ticket, but he hasn't exactly been a smart or good person with money. He apparently would carry around obscene amounts of cash in suitcases in his car, where on multiple occasions his car was broken into and the HUGE amounts of cash were stolen. (When he was asked why he carried the cash around in his car, he kind of smugly said "Because I can.").

In 2003 he was arrested for a DUI, his granddaughter's boyfriend was later on found dead due to a massive overdose of drugs, and his granddaughter was found dead shortly thereafter due to a drug overdose. (So it was his granddaughter that was all drugged up on the stage there, not his daughter).

So in the end, the guy did do a lot for charity with his money, but was also really careless and wreckless with it and obviously didn't see that his family had some major drug issues that he should have spent his money on.

It's still painful that a guy who is already a very successful businessman with a great deal of money already wound up winning all of that jackpot. That's the type of thing that really gets my goat. Smiley Tongue

Oh, i remember that story.

His net worth is far different from his actual income..... his net worth was because of the company he co-owned and its assests. His actual income was much less, and yes, the guy was a complete moron anyhow as he facilitated the death of his granddaughter by not paying enough attention to her and simply throwing money at her.

To me, he was simply a retired guy who lost touch of the company he was once associated with. 

Furiously Chaosing
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Big Daddy
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Re: 600 million dollar lottery

May 21, 2013

mcbuttz78 wrote:

gR3yGh051 wrote:

Setzaroth wrote:

the Lottery is such a sham...I cant believe any of you are dumb enough to participate...well...maybe I can...


Actually, it isn't.

The reason why many people think so, is beause of the odds of winning are so high that you'd seriously have a better chance at being struck by lightning or in a plane crash. god forbid either happens as I dont wish such things on others.

A friend of my father's won $50million Florida lottery nearly 20 years ago. He's retired and living off the interest. 

I have a friend of my own who won $250k off of a scratch off...... so theres that too. She went to school and bought herself a nice modest home.

While it may be hard to believe, it may be improbable, but its not impossible.


Every state  has a diferent tax rate, some have none on lottery winning ..Reply 1st post up. when talking about payout and texes

 The lottery is sham actually its comes  gangster  racket  bingo(  running numbers). You got no  real chance of winning and when you do. they  take a big  cut of it as tax.To keep the game going. Its alot better use for the money than this.. which i do agree its sham in way..

 

 I dont play lottery.. nevr have beyond a scracth ticket with  the young co worker near the holidays or birth days. It good to see win alittle money if they do


Yes, each state has specific laws and taxes about lottery winnings, but when it comes to the mega-millions/powerball..... it is a FEDERAL tax because it has multiple states associated with the lottery, not just the home state in which one lucky winner has to pay state tax for.

Irregardless, you still have to pay the federal tax and the state tax. 

Furiously Chaosing
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Re: 600 million dollar lottery

May 21, 2013

DrGadget wrote:

Anyone else buy tickets?


I spent $3.00 knowing full well I was giving it away to whomever would actually win Smiley Tongue   (Ended up getting the powerball number on the powerplay ticket so I actually made $9.00)

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