Jun 6, 2009 -- 10:44PM, religionfree wrote:

After taxes (the government) his take is $88.5 million.

If those numbers are correct, that is criminal.Literally.That the government can come in and take $145 million of it for themselves is nothing but blatant highway robbery.

Jun 6, 2009 -- 10:50PM, Stardove wrote:

Jun 6, 2009 -- 10:44PM, religionfree wrote:

After taxes (the government) his take is $88.5 million.

Good grief.  He could blow through that in a hurry. 

They even tax us when we die.

Yes,whatever,if any,this guy manages to put away for his heirs will be taxed AGAIN,after they have already robbed him blind the first time.

Jun 7, 2009 -- 9:15AM, Christianlib wrote:

PLEASE, somebody rob me and leave me with nearly $90 million.

 

And, I don't believe the confiscatory numbers in the tax amount assertion are correct.  Let's see a link or some math, please.

Read:

College Confidential-how does $232mm lottery winner net only $88.5mm?


The Fastlane to Millions

Yup. I ran the calculation. Twenty years of annual payments totaling X, discounted to the present at 8% equals roughly 49% of X. I don't know what discount rate the lotteries use, but I think the cash payout is usually 40-48% of the annuity total. Taxes take about a third of what's left, leaving about 33% of the stated prize amount.

Now he'll be able to get a phone, which he does not have (a land line, since out there in that part of South Dakota, one doesn't get cell phone service, or if one does, it's very sporadic -- i.e., standing on one foot at the top of a hill west of town, facing the wind). And maybe even Internet service!

I'm sure he'll be quite happy with what he gets, even after taxes.