If you won the lottery.....

[Brian37]

No no no, not what you think.  Not asking people to post what they would do/buy if they won.

I am posting this because every time a huge jackpot comes up, and people start talking about it, here is how you can guess what party that person supports. Both talk about what they would buy/do. Not the point of this thread. I have noticed that if you want a good idea of what party they support, talk about the amount of taxes taken out of the jackpot and the lump sum the winner is left with. THEY WILL STILL FUCKING BITCH ABOUT THAT.

Really? Why should you fucking care, if you win, whatever you get is still way more than you had before. I expect crybaby billionaires to whine about taxes they don't need. But it is absurd that someone making minimum wage or in the middle class struggling to make ends meet, to complain about being suddenly well off. 

Even with game shows like "Lets Make A Deal", I can almost guess what party the contestant supports if they take the money over the box, but the box turns out to be worth tons more. I love it when the contestant says something like, "I can't complain, this is more than I started out with.".

For example, if  I won the lottery, say 10 million, and I only got a lump sum of 5 million, why the fuck would I bitch?

[Angrboda]

5 million doesn't go as far today as it used to.

[Gawdzilla Sama]

It would go as far as Sydney.

[Crossless2.0]

I can imagine people bitching about the taxes for reasons that have nothing to do with avarice. Suppose you win a large jackpot and wish to use that money to lift up others or to support various worthy causes, and you know for a stone cold certainty that the money will be better and more impactfully spent with you managing it than leaving it up to the government to squander on who knows what . . . well, the tax bill could seriously hamper some of those plans. Not all wealthy people are self-indulgent swine. Many give generously to charitable causes, help fund hospitals and universities, and support the arts -- among many other pursuits.

Personally, I wouldn't complain about being taxed for what is, after all, dumb good fortune. But I get it.

[onlinebiker]

No no no, not what you think.  Not asking people to post what they would do/buy if they won.

I am posting this because every time a huge jackpot comes up, and people start talking about it, here is how you can guess what party that person supports. Both talk about what they would buy/do. Not the point of this thread. I have noticed that if you want a good idea of what party they support, talk about the amount of taxes taken out of the jackpot and the lump sum the winner is left with. THEY WILL STILL FUCKING BITCH ABOUT THAT.

Really? Why should you fucking care, if you win, whatever you get is still way more than you had before. I expect crybaby billionaires to whine about taxes they don't need. But it is absurd that someone making minimum wage or in the middle class struggling to make ends meet, to complain about being suddenly well off. 

Even with game shows like "Lets Make A Deal", I can almost guess what party the contestant supports if they take the money over the box, but the box turns out to be worth tons more. I love it when the contestant says something like, "I can't complain, this is more than I started out with.".

For example, if  I won the lottery, say 10 million, and I only got a lump sum of 5 million, why the fuck would I bitch?

Not much on math there...


If you win 10 million - and take a cash payout - you get 2.5 million.


......

They write a 5 million check - and you end up paying 50 % tax on that payout.



You stick it in the bank -- and by the wonders of compound interest - in 20 years or so you' re back up to 5 million. Minus what they take on the interest you earned..

That's right - you pay tax on money you already paid taxes on.



...

[BrianSoddingBoru4]

Suppose I were to win a $300 million jackpot. I settle for half AND have pay the income tax.  This is going to leave me with about $80 million.

Based on family history and barring accidents, I can expect to live another 30 years or so. This means the missus and I will have struggle along on a paltry $2.6 million a year.  Hardly seems worth buying the ticket in the first place.

Boru

[Crossless2.0]

No no no, not what you think.  Not asking people to post what they would do/buy if they won.

I am posting this because every time a huge jackpot comes up, and people start talking about it, here is how you can guess what party that person supports. Both talk about what they would buy/do. Not the point of this thread. I have noticed that if you want a good idea of what party they support, talk about the amount of taxes taken out of the jackpot and the lump sum the winner is left with. THEY WILL STILL FUCKING BITCH ABOUT THAT.

Really? Why should you fucking care, if you win, whatever you get is still way more than you had before. I expect crybaby billionaires to whine about taxes they don't need. But it is absurd that someone making minimum wage or in the middle class struggling to make ends meet, to complain about being suddenly well off. 

Even with game shows like "Lets Make A Deal", I can almost guess what party the contestant supports if they take the money over the box, but the box turns out to be worth tons more. I love it when the contestant says something like, "I can't complain, this is more than I started out with.".

For example, if  I won the lottery, say 10 million, and I only got a lump sum of 5 million, why the fuck would I bitch?

Not much on math there...


If you win 10 million - and take a cash payout - you get 2.5 million.


......

They write a 5 million check - and you end up paying 50 % tax on that payout.



You stick it in the bank -- and by the wonders of compound interest - in 20 years or so you' re back up to 5 million. Minus what they take on the interest you earned..

That's right - you pay tax on money you already paid taxes on.



…

There are more sophisticated investment instruments than the cigar box under the mattress, you know.

[onlinebiker]

There are more sophisticated investment instruments than the cigar box under the mattress, you know.

I was just keeping it simple for the boy.

[BrianSoddingBoru4]

You stick it in the bank -- and by the wonders of compound interest - in 20 years or so you' re back up to 5 million. Minus what they take on the interest you earned..

That's right - you pay tax on money you already paid taxes on.

Actually, you're not.  You're paying taxes on the earned interest, which is new money.

Boru

[Cato]

I would be ecstatic with the after tax winnings, but in the spirit of the OP will comment as to why I would prefer the entire amount.

I dutifully pay my taxes and am not one of those that decry all taxes, but have huge issues with they way taxes are spent and the tax code is used to secure power. If I had the entire sum at my disposal I could find better ways to spend it; or not spend it for that matter.

- I wouldn't have to contribute to additional military spending.
- I could invest in helping wounded veterans
- Money wouldn't go to corporate subsidies.
- I could give more to my existing charities of choice.
- I could invest in homeless solutions (thinking of a recent thread on what to do with abandoned retail space)
- I could start endowments of my liking
- Finance scholarships
- I could help provide for temporary food, shelter and legal assistance for those seeking asylum in the U.S.

Like everyone else I could go on and on. Everyone has issues with the way government spends our tax contributions so the point is that even if I disagree with how a particular individual would spend the windfall I find it preferable to giving it to a demonstrated dysfunctional body that collectively cares more about the next election and acquisition of power than actually implementing sound public policy.