General Discussion

WarGamer

(18,674 posts)

44. Bottom line?

Wed Aug 9, 2023, 12:16 PM

Aug 2023

Because the endorphin level between a 1M prize... (~700k after taxes in CA) and a 1B prize (630M after taxes in CA) is way different.

650k will secure many people for their future and that's great...

630M buys $50M homes in Newport Beach, 200' yachts and you buy 1 of 25 ever produced 1965 Ferraris...

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This makes no sense to me 1.58 Billion lottery [View all] NowsTheTime Aug 2023 OP

That's why I call it the stupid tax Bucky Aug 2023 #1

Not clear what you don't understand brooklynite Aug 2023 #2

I mean you could do more good for more people...that's all I mean.. NowsTheTime Aug 2023 #3

The intent of a lottery is not to "do good" for people with the prizes. brooklynite Aug 2023 #8

I cannot see how you say 75% of the win goes to taxes muriel_volestrangler Aug 2023 #17

The announced prize is paid out as an annuity over 20 years. brooklynite Aug 2023 #28

Not necessarily and it depends on which lottery edisdead Aug 2023 #46

we are discussing the high jackpot lotteries brooklynite Aug 2023 #51

Right. I believe they both have lump sum options. edisdead Aug 2023 #52

In most states, such as Florida Darwins_Retriever Aug 2023 #24

Precisely Effete Snob Aug 2023 #26

Only about half the money that comes in goes out as prize money bottomofthehill Aug 2023 #16

How would you pick the 1,580 winners? Voltaire2 Aug 2023 #38

Obtuseness in defense of wealth dpibel Aug 2023 #40

Yes! Yes! Yes! True Dough Aug 2023 #4

Define wealthy... brooklynite Aug 2023 #9

I won a billion dollar bet once Effete Snob Aug 2023 #11

You seems awfully hung up on semantics True Dough Aug 2023 #22

But people don't want that kind of lottery... brooklynite Aug 2023 #23

Oh yeah..... LakeArenal Aug 2023 #30

I don't know about that. I'd buy more tickets if the chance to win something... brush Aug 2023 #33

"One thing I don't do is moralize about how people shouldn't be allowed to do something that I don't True Dough Aug 2023 #35

"but it doesn't mean they have waaaaay more than they could ever spend in a lifetime." brooklynite Aug 2023 #36

Well, bully for you! True Dough Aug 2023 #48

Other than moralizing about wealth. dpibel Aug 2023 #41

Where have I said anyone shouldn't say what they want? brooklynite Aug 2023 #42

LOL dpibel Aug 2023 #45

I mean you could post some evidence edisdead Aug 2023 #47

They'll only get about half that in cash...and in Florida... Croney Aug 2023 #5

If the winner got 40% they could buy 632 million dollar homes... NowsTheTime Aug 2023 #7

So true. Croney Aug 2023 #13

It usually REALLLY messes up the winners mucifer Aug 2023 #6

This is true Johnny2X2X Aug 2023 #20

You know this how? LakeArenal Aug 2023 #29

I know here in WI you have to go through newdayneeded Aug 2023 #37

I'd rather see more frequesnt wins, smaller jackpots Marthe48 Aug 2023 #10

Almost every State lottery has "smaller jackpots and more frequent wins" brooklynite Aug 2023 #14

I'm not into it that much Marthe48 Aug 2023 #19

very UN-democratic. That's another reason I don't participate in them. lastlib Aug 2023 #12

How are they "undemocratic"? Every one has a chance to play and an equal chance to win. brooklynite Aug 2023 #15

No, only the holders of one (unknown) set of numbers has a chance to win. lastlib Aug 2023 #21

so ya win a billion dollars MOL onethatcares Aug 2023 #18

You need new friends. LakeArenal Aug 2023 #31

yes, I suppose I do onethatcares Aug 2023 #32

more people play when jackpots are highet Recycle_Guru Aug 2023 #25

Last time I played The Lottery I got a black dot. Gore1FL Aug 2023 #27

+1 for the Shirley Jackson reference TheProle Aug 2023 #49

The thieves of your money are the very own lottery and the government. GreenWave Aug 2023 #34

So you object to people paying progressive income taxes? brooklynite Aug 2023 #43

Actually inthewind21 Aug 2023 #54

Stock market investing is not (and shouldn't be) "gambling" brooklynite Aug 2023 #55

Anti-government posts here on DU? edisdead Aug 2023 #50

What is this now? MorbidButterflyTat Aug 2023 #53

A lot of people bought tickets BannonsLiver Aug 2023 #39

Bottom line? WarGamer Aug 2023 #44

Makes no sense to me either. edbermac Aug 2023 #56

Message auto-removed Name removed Jan 2024 #57