Rancher whose family had fallen behind on taxes wins Powerball

Too cool:

http://www.courierpress.com/news/2009/jun/05/23-year-old-rancher-claims-232-million-powerball-p/

 

Good luck to him.

 

I read a story in the Virginian-Pilot last week about a guy who won the lottery 20 years ago and had just received his last payout (monthy or yearly, can't remember). Was an interesting read.

 

I think it's awesome that they won, but really, you can't pay your mortgage and you're buying lottery tickets?

 

In-laws have the same situation/habits. Downward spiral with all sorts of attempts at miraculous comebacks.

You know you have issues when you're constantly bitching about the undeserving people who've won. I mean, really.

 

Anyone else bothered by the clear false advertising of a man winning a $232 million jackpot only to get $88.5 million?

I mean, really, isn't that just some bullshit? Because he wants a lump sum he loses $143.5 million dollars? And how much of that is going to taxes? Sounds like cruel and unusual punishment to me.

 

I'll accept his punishment. Because I'm just that kind of guy.

 

That's what I love about Canadian lotteries - the jackpots might not get as high as they do down there, but all winnings are tax-free.

 

I believe the loss of 143.5 million is largely due to taxes. Taxes disproportionately paid by the poor and lower-middle classes.

 

It's not just the taxes. It's the interest.

You are often better off taking the lump sum regardless.

(Well, you are often better off not winning the lottery at all, but that's a whole other issue.)

 

Depends on how old you are. That guy should have taken the annuity. At my age, it's lump sum, bay-bee

 

Agreed but they don't have to play a game with terrible odds.

Just like the poor and lower-middle class don't have to pay $2,000 a year to smoke cigarettes. God Bless those who smoke, pay the taxes and aren't around to collect Social Security...