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The upside of losing the lottery
Charleston (WV) Daily Mail ^ | March 31, 2012 | Don Surber

Posted on 03/31/2012 6:28:31 AM PDT by Mustang Driver

Unless you had the number 2, 4, 23, 38, 46 and Mega Ball 23 last night, you did not win the $640 million Mega Millions jackpot.

Look at the bright side: You avoided paying Barack Obama $115 million in federal income taxes — and if you live in West Virginia, paying Earl Ray Tomblin $30 million in state income taxes.

This is based on CBS Math with a little Surber Math used to calculate the West Virginia personal income tax.

From CBS News: “The jackpot, if taken as a $462 million lump sum and after federal tax withholding, works out to about $347 million.”

So West Virginians who did not win the big jackpot can be satisfied in the knowledge that they avoided paying $145 million in state and federal taxes.

Now that is what I call sticking it to The Man.


TOPICS: Government
KEYWORDS:

1 posted on 03/31/2012 6:28:36 AM PDT by Mustang Driver
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To: Mustang Driver

Plus you won’t kicked off food stamps!

(But it would have been nice to get a double-wide and lord it over the neighbors...)


2 posted on 03/31/2012 6:38:11 AM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: mrsmith

I could have done a lot of good with that money; good cars, good clothes, good homes, good vacations, and good women. ;)


3 posted on 03/31/2012 6:42:08 AM PDT by Perdogg
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To: Perdogg

I was going to build a house out of $100 bills...but now that dream is gone...


4 posted on 03/31/2012 6:44:24 AM PDT by Future Snake Eater (If we had a President, he'd look like Newt.)
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To: Future Snake Eater
I was going to build a house out of $100 bills...but now that dream is gone...

Take heart; if the government continues to print money at its current rate, your dream may just be attainable within a decade or two.

5 posted on 03/31/2012 6:46:37 AM PDT by NittanyLion
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To: Mustang Driver

Thank God...now I don’t have to go through the ordeal of test driving a Bentley.


6 posted on 03/31/2012 6:46:48 AM PDT by coolbreeze (giving money and power to government is like giving whiskey and car keys to teen-age boys.)
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To: coolbreeze

You find out who your friends are!


7 posted on 03/31/2012 6:49:29 AM PDT by Frankss
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To: Mustang Driver

But, now my church won’t have it’s school.


8 posted on 03/31/2012 7:02:04 AM PDT by netmilsmom (I am Breitbart)
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To: Mustang Driver
From CBS News: “The jackpot, if taken as a $462 million lump sum and after federal tax withholding, works out to about $347 million.”

We could celebrate by filling our gas tank.

All of us...

9 posted on 03/31/2012 7:03:06 AM PDT by Caipirabob (I say we take off and Newt the site from orbit. It's the only way to be sure...)
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To: Perdogg

Imagine all the vices. Sleeping in til 7am. Eating steaks, drinking beer, driving new cars.
All that good living would ruin a man.


10 posted on 03/31/2012 7:03:17 AM PDT by Yorlik803 (better to die on your feet than live on your knees.)
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To: Frankss
I've heard that if you win a large amount if money, you should call all your friends and ask to borrow money before you collect the prize. Those who would lend/give you money are your real friends. Those who blew you off should be treated similarly.

As for the state taxes, you might not be liable for them until you collect the prize. It might be time to move to Florida or Texas before claiming the prize.

11 posted on 03/31/2012 7:06:17 AM PDT by KarlInOhio (You only have three billion heartbeats in a lifetime.How many does the government claim as its own?)
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To: Mustang Driver

Safety and Security is THE priority in winning.

Oh, and if you give the maximum deductible 30% to charity, you get 35% of that 30% back in a refund.

In this case of 3 winners, that refund amount would be $16 Million, for any one of them.


12 posted on 03/31/2012 7:06:28 AM PDT by G Larry (We are NOT obliged to carry the snake in our pocket and then dismiss the bites as natural behavior.)
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To: NittanyLion
"Take heart; if the government continues to print money at its current rate,
your dream may just be attainable within a decade or two. "
just like in post WWI (Pre-Hitler) Germany...the Wienmar Republic,
(the inflation) wheelbarrows of $$$$ to buy just one loaf of bread.
Obama's America
formerly "the breadbasket" of the world,
strangled to death by nanny-state Marxist bureaucrats.

13 posted on 03/31/2012 7:12:02 AM PDT by skinkinthegrass (Kill all the terrorists, protect all the borders, ridicule all the (surviving) Liberals :^)
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To: Perdogg

LOL!
I’m going to try that joke on my neighbor...


14 posted on 03/31/2012 7:26:34 AM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: Perdogg
I could have done a lot of good with that money; good cars, good clothes, good homes, good vacations, and good women. ;)

I agree up to the good women. With that much money I would be sure to include the naughty ones too.

15 posted on 03/31/2012 7:32:31 AM PDT by KarlInOhio (You only have three billion heartbeats in a lifetime.How many does the government claim as its own?)
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To: KarlInOhio; Perdogg
"I agree up to the good women. With that much money I would be sure to include the naughty ones too."

Ben: What about your girl?

Partner: Girl?

Ben: Yeah. Elisa. Is she gonna come out and join you, or did she marry your brother?

Partner: To tell you the truth, there is no Elisa. I just read that name somewhere and made it up.

Ben: Them's the best kind... but what l need now is the worst kind.


16 posted on 03/31/2012 7:48:11 AM PDT by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: Mustang Driver

I am up a buck because I didn’t play the lottery. I would have never played those numbers, so I am also a winner. Dollar Store, here I come! I needed a new cheap picture frame and now I can afford one.


17 posted on 03/31/2012 8:08:55 AM PDT by murron (Proud Mom of a Marine Vet)
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To: Mustang Driver

The upside of NOT PLAYING the lottery

I still have my money


18 posted on 03/31/2012 8:28:09 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: Mustang Driver

I only bought 10 bucks worth. I am in Annapolis and someone won in Baltimore County. Drats....lol. I just hope whoever won the money is someone who really needed it and uses the money for good.


19 posted on 03/31/2012 9:06:37 AM PDT by napscoordinator (A moral principled Christian with character is the frontrunner! Congrats Santorum!)
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To: murron

lol. Congratulations and have fun at the dollar store. They can be fun at times.


20 posted on 03/31/2012 9:09:09 AM PDT by napscoordinator (A moral principled Christian with character is the frontrunner! Congrats Santorum!)
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To: murron
"I am up a buck because I didn’t play the lottery."

LOL...same here. I figure that if I'm meant to win something like that, God would tell me to go buy the ticket. So far, hasn't happened.

21 posted on 03/31/2012 9:14:18 AM PDT by Joe 6-pack (Que me amat, amet et canem meum)
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Well, God, that’s $462 million of which I’d give You half which would be $231 million. Then I’d take out the $115 million in federal taxes (that’s all out of my half, Lord), that leaves me with $116 million for myself (since there’s no state income tax where I live). I think I would have been quite satisfied with that. In fact, I probably would be satisfied with even $5 million for myself so I could give the rest to family, friends, that cute waitress where I eat, the lady who cuts my hair, etc.

But, Lord, I am saved and your grace is sufficient for me. But just in case you ever want to do the math on letting me win the Lottery, dear Lord, this is what it would have looked like.


22 posted on 03/31/2012 9:33:34 AM PDT by OrangeHoof (Obama: The Dr. Kevorkian of the American economy.)
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To: Mustang Driver

now is the time to buy a ticket for tues drawing w/ 2,4,23,38,46 and 23. slip that ticket in w/ fridays and watch the fun when 1 person in the office pool finds it.


23 posted on 03/31/2012 9:49:31 AM PDT by Undecided 2012
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To: OrangeHoof

Lord, let me prove to you that winning the lottery won’t spoil me. LOL


24 posted on 03/31/2012 10:00:42 AM PDT by Fast Moving Angel (Newt's not a perfect candidate but Jesus isn't running this year. - shoff)
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To: napscoordinator
...someone won in Baltimore County. Drats....lol. I just hope whoever won the money is someone who ... uses the money for good.

You must really be an optimist to think that someone in Baltimore County is likely to "use the money for good!"

25 posted on 03/31/2012 10:11:29 AM PDT by doc11355
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