The First-Ever Lottery Jackpot Richer Than Mitt Romney

ABC News via Yahoo! News ^ | March 30, 2012 | by Amber Porter

[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.

[NavyCanDo]

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.

[Gil4]

[BigEdLB]

http://www.megamillions.com/
$640 M, cash payout $462 M

[BigEdLB]

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

[angcat]

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.

[CSM]

” 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!

[nhwingut]

First ever lottery richer than Solyndra loan blown

[proxy_user]

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

[ladyjane]

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

[dsrtsage]

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.

[BigEdLB]

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

[GraceG]

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