Skip to comments.Record $365 Million Powerball Jackpot Won in Nebraska
Posted on 02/19/2006 4:12:59 AM PST by dakine
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The more the lottery takes in,the more general tax revenue that can and will be spent elsewhere.
It does nothing to help education or reduce local taxes,just makes it easier to keep increasing the spending and along with it the local districts share keeps increasing.
"Seems I remember that the vast majority after they were paid and the money spent wished they would have never won."
Give me the prize money and I'll get back to you and let you know how it worked out. IOW, for $177M, I'll take that chance.
I know a guy who lost loads of money, and his marriage, by betting on the Packers against the Broncos.
In lottery, the payoff is equal to the odds of winning. You can bet $3 and win a million. I'll never miss the $3.
Sounds like a win-win situation to me...
From HER perspective, yes.
The cash option number is AFTER taxes...
Similar situation with the California Lottery...the money does indeed go to the skools, but the catch is that whatever amount is gleaned by the lottery is basically deducted from previously allocated tax funds. Net gain = zero.
That same education (it's for the chilluns) lie is told everywhere.
Hell, we don't even need to talk about the corruption in Baton Rouge!!!
It's the same here. Lottery money for education replaces money that used to come from the general fund. It is not nor never has been "in addition to".
It's nothing new but politicians are dishonest with the public and it cuts across political lines. It is also not a new thing that the public generally swallows all the B.S. that the politicians feed them.
I'm glad it was won in a red state.
Same in Louisiana. Passed lottery as a cure for educational troubles. Teachers never saw a cent.
"The cash option number is AFTER taxes..."
No it is not.
I'm in Nebraska too.....wasn't me either.
Oh well, back to work tomorrow.
Warren Buffet figured with a $365 million jackpot and 140 million or so combinations, he would just have his agents buy all 140 million combinations. He's from Nebraska, isn't he?
can get 9-12% on life settlements, a very safe investment. Se what it will do if 100,000 invested at birth for 10% and rolled over every 5 years until age 45.
Discovery had a program on recently about lottery winners. One guy was homeless and won the lottery..was very moving and although he has all that money, he lives in a very modest home and did not go crazy with the money. Two sisters were lottery winners. The bought nice homes next to each other. Built only one pool and the entire family uses it. They were very happy and content with their winnings and had no problems. Another guy with a long pony tail traveled all over the world buying the most god awful gaudy stuff but he was a happy camper and loved his gaudy home, elephant tusks, gold piano, etc. lol I would love to see a series on lottery winners and find out what happened to them after they won.
In a lottery I voluntarilly give my money away or not. In taxes, it is confiscatory. Seems like a no brainer which one is preferred.
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