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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
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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. 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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