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The First-Ever Lottery Jackpot Richer Than Mitt Romney
ABC News via Yahoo! News ^ | March 30, 2012 | by Amber Porter

Posted on 03/30/2012 8:58:25 AM PDT by Oldeconomybuyer

The lottery drawing tonight might make someone very rich and – for the first time ever for a lottery – richer than Mitt Romney.

Sure, a few jackpot totals have been greater than Romney’s estimated worth of $250 million, but after various taxes, no cash payout has ever topped his wealth. Tonight’s cash option of an estimated $398.8 million would place some lucky person far above the Romneys on the list of Very Rich Americans.

There’s lots of advice being given today on what to do with all that money if you win, but Mitt Romney might have a few good recommendations:

- Install a car elevator for your beach house and hire a personal lobbyist to help push plans through for approval;

- Befriend NASCAR and NFL team owners;

- Own a couple of Cadillacs.

And then there’s the sage advice from wife Ann, which is to not even consider yourself wealthy.

Maybe the most valuable piece of advice he could offer is to stay rich by spending other people’s money, not your own.

(Excerpt) Read more at abcnews.go.com ...


TOPICS: Culture/Society; News/Current Events; Politics/Elections
KEYWORDS: 99percent; election2012; journalism; media4obama; mediabias; mediamalpractice; romney
Classic media bias. John Kerry's net worth is $750 million. Al Gore's net worth increased from $2 million in 2000 to over $100 million now after cashing in on Apple and Google board of directors seats. The Clinton's are worth over $80 million.
1 posted on 03/30/2012 8:58:39 AM PDT by Oldeconomybuyer
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To: Oldeconomybuyer

How many minutes of Federal Spending would that cover?


2 posted on 03/30/2012 9:02:53 AM PDT by DManA
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To: Oldeconomybuyer

Up to 640 Billion now.


3 posted on 03/30/2012 9:03:32 AM PDT by sheikdetailfeather ("We Need To Teach The Establishment a Lesson" - Newt Gingrich)
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To: Oldeconomybuyer

If depends on your state of residence.

In a state with no state income tax, you would get $260 million after taxes. But it would be much less in NY or California.


4 posted on 03/30/2012 9:06:33 AM PDT by proxy_user
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To: sheikdetailfeather

Woops! Billion s/b Million!


5 posted on 03/30/2012 9:08:47 AM PDT by sheikdetailfeather ("We Need To Teach The Establishment a Lesson" - Newt Gingrich)
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To: DManA

I heard that it would pay off 1/10,000 of the deficit.


6 posted on 03/30/2012 9:10:01 AM PDT by GSWarrior
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To: Oldeconomybuyer

Well that does it. If I win, I am going to buy this election.


7 posted on 03/30/2012 9:10:11 AM PDT by dforest
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To: Oldeconomybuyer

This article is full of cheap shots and jealousy dripping from its author. They can’t stand it when people work hard and earn and spend their own money


8 posted on 03/30/2012 9:10:44 AM PDT by dupree
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To: Oldeconomybuyer

seems like it came from Daily kos!


9 posted on 03/30/2012 9:12:26 AM PDT by MNDude
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To: Oldeconomybuyer
stay rich by spending other people’s money, not your own.

Obama is the master at this, Romney would have to defer to him for advice.

10 posted on 03/30/2012 9:13:10 AM PDT by Brett66 (Where government advances, and it advances relentlessly , freedom is imperiled -Janice Rogers Brown)
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To: Oldeconomybuyer

You hit the nail on the head....never a mention of Soros, Kennedy, Pelosi, Kerry...

I hate the Leftist, lying media.

I think we need to get another “Fox-like-but-not-owned-by-Saudis” conservative TV network. I know Kelsey Grammar started Right Network, but I think the cable carriers are slow to add any programming.

Washington Times
Washington Examiner
Fox
Talk Radio

The rest is unadulturated bullsh*t.


11 posted on 03/30/2012 9:18:06 AM PDT by wac3rd (Somewhere in Hell, Ted Kennedy snickers.....)
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To: DManA

How many Obama family vacations would the lottery cover?About half of them would be my guess.


12 posted on 03/30/2012 9:20:23 AM PDT by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: Oldeconomybuyer
Oh my, media's not biased at all. ROFL
13 posted on 03/30/2012 9:26:09 AM PDT by mykroar (Please be aware any /sarc tag is for the lurkers, not the Freepers.)
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To: Farmer Dean

LOL Glenn Beck said that if the winner was a tea party sort, he could start a PAC on his own with the sole purpose of getting Obama out of office in the November Elections...


14 posted on 03/30/2012 9:28:28 AM PDT by BigEdLB (Now there ARE 1,000,000 regrets - but it may be too late.)
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To: Oldeconomybuyer
Is there any mega jackpot winner who has actually done anything which is long term useful with their money?

Most of them, we never hear about again unless they go broke or get in trouble with the law.

15 posted on 03/30/2012 9:29:08 AM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: Oldeconomybuyer
The First-Ever Lottery Jackpot Richer Than Mitt Romney The Stimulus Money Given to Solyndra
16 posted on 03/30/2012 9:29:34 AM PDT by N. Theknow (Kennedys=Can't drive, can't ski, can't fly, can't skipper a boat, but they know what's best for you.)
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To: All

It just went up : $640 MILLION per the California Lottery Website. I imagine Brown & his gang of thieves in the back room are trying to repeal the “no state income tax” provision of the lottery law out here...


17 posted on 03/30/2012 9:31:30 AM PDT by BigEdLB (Now there ARE 1,000,000 regrets - but it may be too late.)
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To: Oldeconomybuyer

Is it richer than Obama’s sugar daddys: George Soros and Warren Buffett?


18 posted on 03/30/2012 9:35:46 AM PDT by rod1
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To: Oldeconomybuyer
The total jackpot is $540m. That's a lot of bread!

Taxed at 100%, it would cover about 75 minutes of 2012 federal spending.

19 posted on 03/30/2012 9:37:33 AM PDT by cynwoody
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To: rod1
Is it richer than Obama’s sugar daddys: George Soros and Warren Buffett?

No, not even close.

20 posted on 03/30/2012 9:49:05 AM PDT by Future Snake Eater (If we had a President, he'd look like Newt.)
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To: Oldeconomybuyer
If they want to politicize the lotto, maybe they should mention how many minutes it takes the government to spend the mega millions or that 32,000 mega millions would be needed to pay off the national debt.
21 posted on 03/30/2012 9:51:42 AM PDT by NavyCanDo (You can take an idiot out of Chicago, but you can’t take the Chicago out of an idiot!)
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To: DManA

22 posted on 03/30/2012 10:03:55 AM PDT by Gil4 (Sometimes it's not low self-esteem - it's just accurate self-assessment.)
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To: Gil4
http://www.megamillions.com/
$640 M, cash payout $462 M
23 posted on 03/30/2012 10:06:07 AM PDT by BigEdLB (Now there ARE 1,000,000 regrets - but it may be too late.)
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To: proxy_user

California - No State Income tax on Lottery Winnings from California -


24 posted on 03/30/2012 10:07:37 AM PDT by BigEdLB (Now there ARE 1,000,000 regrets - but it may be too late.)
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To: dupree
Yes I figured the article was about that. I just spent an hour in the salon and CNN was on. It is a channel for retards. They were making jokes out what Obama promised the Russians and the rest of the news was about the stupid lottery. You would never know our country is in it's demise.
25 posted on 03/30/2012 10:10:37 AM PDT by angcat (PLEASE GOD SAVE OUR COUNTRY!)
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To: Oldeconomybuyer

” but after various taxes, no cash payout has ever topped his wealth. Tonight’s cash option of an estimated $398.8 million “

Not only is the article very biased, but it is also written in ignorance. The cash option is pre-tax.....The $398.8 mentioned will still be taxxed as income by th estate and feds!


26 posted on 03/30/2012 10:35:58 AM PDT by CSM (Keeper of the Dave Ramsey Ping list. FReepmail me if you want your beeber stuned.)
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To: Oldeconomybuyer

First ever lottery richer than Solyndra loan blown


27 posted on 03/30/2012 10:51:02 AM PDT by nhwingut (Sarah Palin 12... No One Else (Maybe Tim Thomas))
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To: BigEdLB

Those that apply to this multi-state lottery, or just for the California lottery?


28 posted on 03/30/2012 11:05:13 AM PDT by proxy_user
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To: dupree

For cheap shots and envy of those who work hard for their money you don’t have to look further than this website. Unfortunately.


29 posted on 03/30/2012 11:09:27 AM PDT by ladyjane
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Was working near a state that sells them, and bought a few yesterday (never buy them, but what the hell). If I win, I will pay off both of my houses. But otherwise my lifestyle will change little, I have all I need. I will however make high profile donations to any group liberals hate.


30 posted on 03/30/2012 12:09:24 PM PDT by dsrtsage (One half of all people have below average IQ. In the US the number is 54%)
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To: proxy_user

Multistate lotteries are California income tax exempt if the ticket was bought through the California Lottery system.


31 posted on 03/30/2012 12:15:55 PM PDT by BigEdLB (Now there ARE 1,000,000 regrets - but it may be too late.)
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To: Oldeconomybuyer

If I win I am going to send a few cool million to Newt.


32 posted on 03/30/2012 12:17:09 PM PDT by GraceG
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