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(Some Guy who's poor at math)   Tonight's drawing is officially *puts pinkie to lips* ... one billion dollars   (megamillions.com) divider line
    More: Cool, U.S. state, Native Americans in the United States, States of the United States, Democratic Party, American Civil War, Megaplier Winners, North Carolina, Cash Value  
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1822 clicks; posted to Main » on 22 Jan 2021 at 9:44 PM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



49 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2021-01-22 9:46:58 PM  
And after you win the Gubbimnet stills ends up with 3 times what you walk away with.
 
2021-01-22 9:48:12 PM  

bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.


Your math is even worse than a lottery player
 
2021-01-22 9:57:12 PM  
I'm buying exactly one ticket tomorrow.
 
2021-01-22 9:58:31 PM  
466 million after federal taxes, minus whatever the state tax is
 
2021-01-22 9:59:28 PM  
So I just need to buy one of every ticket and I'm guaranteed to win enough to profit. I hope there's nobody in line behind me.
 
2021-01-22 10:00:24 PM  
Hurrrr....people that are bad at math....Durrrrrr....tax on stupid people...derp derp derp derp derp
 
2021-01-22 10:01:28 PM  
I might get a ticket tomorrow. For funsies.
 
2021-01-22 10:02:24 PM  
I dropped a Hamilton for a handful of entries, learning I can now buy lottery tickets online, which seems pretty insane to me.
 
2021-01-22 10:02:25 PM  

mcsiegs: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

Your math is even worse than a lottery player


How much would you pay in taxes if you won a million if you won a million in taxes to take it in one lump sum in the States?

I live in Canada where if you won a million you get a million. Tax free.
 
2021-01-22 10:04:28 PM  

mcsiegs: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

Your math is even worse than a lottery player


Govt may not get 3x the winners for all lotteries, but it gets at least 2x.

Lotteries in US pay out on average 60% of receipts. Winners of the larger prizes pay ~40% winnings in federal income tax. After state income taxes, <35% of receipts end up in winners hands.
 
2021-01-22 10:04:52 PM  
If I win you're all getting hookers and blow. And this lamp. Hookers, blow, this lamp, and this thermos.
 
2021-01-22 10:04:53 PM  

bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.


This is why I always vote for the guy promising tax cuts. In case I win the lottery, why should the government steal *my* winnings via taxes to pay for shiat like schools and public roads I'll never use?
 
2021-01-22 10:05:14 PM  

Weatherkiss: I might get a ticket tomorrow. For funsies.


The drawing's tonight.
 
2021-01-22 10:05:53 PM  

bobobolinskii: mcsiegs: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

Your math is even worse than a lottery player

How much would you pay in taxes if you won a million if you won a million in taxes to take it in one lump sum in the States?

I live in Canada where if you won a million you get a million. Tax free.


A million Canadian dollars
 
2021-01-22 10:06:04 PM  

Kooj: mcsiegs: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

Your math is even worse than a lottery player

Govt may not get 3x the winners for all lotteries, but it gets at least 2x.

Lotteries in US pay out on average 60% of receipts. Winners of the larger prizes pay ~40% winnings in federal income tax. After state income taxes, <35% of receipts end up in winners hands.


The cash option represents receipts. The advertised billion is if you take an annuity that is invested. That difference between advertised and cash doesn't go to anyone. It doesn't exist.
 
2021-01-22 10:06:07 PM  
If I win, I'll donate some to Drew.
 
2021-01-22 10:07:24 PM  

Joey Jo Jo Jr Shabadu: Weatherkiss: I might get a ticket tomorrow. For funsies.

The drawing's tonight.


Well, tell them to stop it until tomorrow.
 
2021-01-22 10:08:30 PM  

Joey Jo Jo Jr Shabadu: Weatherkiss: I might get a ticket tomorrow. For funsies.

The drawing's tonight.


He now has a slightly less chance of winning.
 
2021-01-22 10:08:49 PM  

Joey Jo Jo Jr Shabadu: Weatherkiss: I might get a ticket tomorrow. For funsies.

The drawing's tonight.


But her chances of winning the jackpot are only 1/302,575,350 less if she waits until tomorrow.
 
2021-01-22 10:09:53 PM  

Parthenogenetic: Joey Jo Jo Jr Shabadu: Weatherkiss: I might get a ticket tomorrow. For funsies.

The drawing's tonight.

But her chances of winning the jackpot are only 1/302,575,350 less if she waits until tomorrow.


i.pinimg.comView Full Size
 
2021-01-22 10:12:57 PM  

NeoCortex42: Kooj: mcsiegs: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

Your math is even worse than a lottery player

Govt may not get 3x the winners for all lotteries, but it gets at least 2x.

Lotteries in US pay out on average 60% of receipts. Winners of the larger prizes pay ~40% winnings in federal income tax. After state income taxes, <35% of receipts end up in winners hands.

The cash option represents receipts. The advertised billion is if you take an annuity that is invested. That difference between advertised and cash doesn't go to anyone. It doesn't exist.


The cash option is nowhere near 100% of receipts.
 
2021-01-22 10:15:37 PM  

Kooj: NeoCortex42: Kooj: mcsiegs: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

Your math is even worse than a lottery player

Govt may not get 3x the winners for all lotteries, but it gets at least 2x.

Lotteries in US pay out on average 60% of receipts. Winners of the larger prizes pay ~40% winnings in federal income tax. After state income taxes, <35% of receipts end up in winners hands.

The cash option represents receipts. The advertised billion is if you take an annuity that is invested. That difference between advertised and cash doesn't go to anyone. It doesn't exist.

The cash option is nowhere near 100% of receipts.


Well, it directly ties to the receipts more than the advertised annuity. It's probably closer to 50% of total receipts since sales go towards whatever state fundings.

My point was that taking the cash option isn't getting dinged by the government, but that that money doesn't actually exist in the first place.
 
2021-01-22 10:17:33 PM  
It's not real money until the cash option after taxes is one billion dollars.  Everyone knows that.
 
2021-01-22 10:18:44 PM  

Kooj: mcsiegs: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

Your math is even worse than a lottery player

Govt may not get 3x the winners for all lotteries, but it gets at least 2x.

Lotteries in US pay out on average 60% of receipts. Winners of the larger prizes pay ~40% winnings in federal income tax. After state income taxes, <35% of receipts end up in winners hands.


Which if you actually won, is still more cash than zero if you hadn't played in the first place.

I rarely play the lottery. But when I do, I have to cross state lines, and we make a day trip out of it. So it's less about winning, and more about having a quick mini-adventure.
 
2021-01-22 10:19:04 PM  
That is real fark up your life money.
 
2021-01-22 10:21:35 PM  

Parthenogenetic: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

This is why I always vote for the guy promising tax cuts. In case I win the lottery, why should the government steal *my* winnings via taxes to pay for shiat like schools and public roads I'll never use?


Which is the precise mentality that the rich have instilled in the poor.

"Oh no, you don't want money! It's just such a headache! Poverty is far less of a burden, so stick with that cold comfort. Let the rich deal with the troubles of wealth instead, and stay right where you are."
 
2021-01-22 10:22:24 PM  
When I win, I will create a nonprofit company who will claim the winnings.
A $740 million endowment fund will earn around $40 million annually.
With that, we can fund...
10 $1,000,000 grants
100 $100,000 grants
1000 $10,000 grants and
10,000 $1,000 grants!

And do it again the next year.

I would be content with my $250,000 annual salary as CFO and Mrs_voted_for_drew would draw an equal $250,000 salary for Executive Director.

Still a bunch more than we are making now, and we could do a lot of good with it.
 
2021-01-22 10:23:49 PM  

meat0918: That is real fark up your life money.


But probably worth a good book deal by the end of it.
 
2021-01-22 10:47:26 PM  

Kooj: mcsiegs: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

Your math is even worse than a lottery player

Govt may not get 3x the winners for all lotteries, but it gets at least 2x.

Lotteries in US pay out on average 60% of receipts. Winners of the larger prizes pay ~40% winnings in federal income tax. After state income taxes, <35% of receipts end up in winners hands.


So instead of a billion dollars, I'll only get $350,000,000?

Well, let me just throw this winning ticket away.  If I'm not getting the full billion, it's just not worth turning it in.
 
2021-01-22 10:49:30 PM  

SwiftFox: bobobolinskii: mcsiegs: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

Your math is even worse than a lottery player

How much would you pay in taxes if you won a million if you won a million in taxes to take it in one lump sum in the States?

I live in Canada where if you won a million you get a million. Tax free.

A million Canadian dollars


Which still more than 700K Americbucks.
 
2021-01-22 10:52:06 PM  
Fark user imageView Full Size



The last annuity payment in year 30 is $41 million. I think I'd take the annuity as a guy in my late 30's.
 
2021-01-22 10:52:25 PM  
Reminds me of a Redneck story about how the Redneck had won a million dollars & he said something to the effect of if he wasn't getting a full million as advertised they wasn't gonna git their Ticket back neither.......!!!!!
Fark user imageView Full Size
 
2021-01-22 11:08:41 PM  

RedVentrue: I'm buying exactly one ticket tomorrow.


That's how I usually do the lottery. When it gets to stupid money, I buy one ticket. If I win anything more than I spent, that's cool. If I don't, I lose a couple dollars.
 
2021-01-22 11:09:16 PM  
So what happens if I win, but never claim the prize? It all goes to pay down the national debt?
 
2021-01-22 11:20:26 PM  
I didn't win.

DAMNIT.  I thought it was a sure thing.
 
2021-01-22 11:20:46 PM  

bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.


You do know you can actually wait and collect over time to increase your take away amount, right?

Consider the case of $228.4 million Powerball jackpot winner Vinh Nguyen, a California nail technician and sole top-prize winner of that game's drawing on Sept. 24, 2014.
Most big-prize winners opt for the lump sum. That would have been $134 million. Instead, Nguyen opted for the annuity. That will give him the full $228,467,735 jackpot paid out over 30 years.
 
2021-01-22 11:25:40 PM  

phimuskapsi: The last annuity payment in year 30 is $41 million. I think I'd take the annuity as a guy in my late 30's.


But as a 70yo, I'm takin' strait cash and seeing if I can kill myself happy.
 
2021-01-22 11:36:19 PM  
Scott Steiner's Math Promo Sacrifice 2008 ACTUAL FOOTAGE
Youtube msDuNZyYAIQ
 
2021-01-22 11:42:17 PM  

phimuskapsi: [Fark user image 724x1216]


The last annuity payment in year 30 is $41 million. I think I'd take the annuity as a guy in my late 30's.


That 24% federal is just the withholding.  You have to pay 37% total at tax time.
 
2021-01-22 11:44:42 PM  

bucket_pup: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

You do know you can actually wait and collect over time to increase your take away amount, right?

Consider the case of $228.4 million Powerball jackpot winner Vinh Nguyen, a California nail technician and sole top-prize winner of that game's drawing on Sept. 24, 2014.
Most big-prize winners opt for the lump sum. That would have been $134 million. Instead, Nguyen opted for the annuity. That will give him the full $228,467,735 jackpot paid out over 30 years.


Fark user imageView Full Size
 
2021-01-22 11:45:21 PM  

bucket_pup: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

You do know you can actually wait and collect over time to increase your take away amount, right?

Consider the case of $228.4 million Powerball jackpot winner Vinh Nguyen, a California nail technician and sole top-prize winner of that game's drawing on Sept. 24, 2014.
Most big-prize winners opt for the lump sum. That would have been $134 million. Instead, Nguyen opted for the annuity. That will give him the full $228,467,735 jackpot paid out over 30 years.


It's a "time value of money" thing.  'X' dollars today is more valuable than the same number of dollars thirty years from now, because you get invest it today and get it working for you right away.

If the people structuring the annuity do their jobs correctly, the lump-sum amount should be approximately equal to the "net present value" of the 30-year stream of annuity payments, anyway.
 
2021-01-22 11:51:39 PM  
I just sold $1000 worth of Megamilions tickets to one guy tonight. I looked right at him and said, Are you crazy? Then I sold it to him anyway, of course. I'm sure he was plenty offended.

/I really need to quit
 
2021-01-22 11:57:51 PM  
If I win I'm going to run for President
 
2021-01-23 12:59:39 AM  

SwiftFox: bobobolinskii: mcsiegs: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

Your math is even worse than a lottery player

How much would you pay in taxes if you won a million if you won a million in taxes to take it in one lump sum in the States?

I live in Canada where if you won a million you get a million. Tax free.

A million Canadian dollars


The best dollars. They come in all sorts of colours, are shiny, and have pretty pictures
 
2021-01-23 2:24:58 AM  

Notabunny: If I win you're all getting hookers and blow. And this lamp. Hookers, blow, this lamp, and this thermos.


You've got my vote for whatever.
 
2021-01-23 2:34:23 AM  

relaxitsjustme: If I win I'm going to run for President


Should we set up the trial papers now?

/we were certainly late for ol' 45
 
2021-01-23 4:40:51 AM  

meat0918: That is real fark up your life money.


But it will be one hell of a year.
 
2021-01-23 4:47:12 AM  

Claude Ballse: Parthenogenetic: bobobolinskii: And after you win the Gubbimnet stills ends up with 3 times what you walk away with.

This is why I always vote for the guy promising tax cuts. In case I win the lottery, why should the government steal *my* winnings via taxes to pay for shiat like schools and public roads I'll never use?

Which is the precise mentality that the rich have instilled in the poor.

"Oh no, you don't want money! It's just such a headache! Poverty is far less of a burden, so stick with that cold comfort. Let the rich deal with the troubles of wealth instead, and stay right where you are."


What? No.
The powers that be say that cash is great and if we all work hard we can achieve it, regardless of where you are in life, or your education, or what race you are, and regardless of the fact that no matter how much you save, one moderate illness can wipe out your life savings.
So keep working and you could be rich too!
That's why you should always vote that way! You don't want a lot of taxes when you get rich too, right?
 
2021-01-23 9:14:16 AM  

relaxitsjustme: If I win I'm going to run for President


Username seems rather suspect

Fark user imageView Full Size
 
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