Buford T. Justice Posted February 24, 2006 Share Posted February 24, 2006 The lottery...A special tax for the stupid. 610371[/snapback] 8 stupid people just came into more money then you'll ever see. Honestly, only delusional people think they'll actually win, but if you have the extra cash to blow then what's wrong with it? Especially when so much of the money goes towards education and other worthy programs. Link to comment Share on other sites More sharing options...
tennesseeboy Posted February 24, 2006 Share Posted February 24, 2006 Actually, one could look long and hard at the so-called "education" benefit of many of these lotteries. In many states the money goes to scholarships to students regardless of financial need and based on (sometimes) minimal academic achievemnt. In most of these cases the students would have gone to college anyway with either parental payment or student loans. So what happens is the poor trailer park guy picking up his six pack and putting ten bucks on his quick picks is subsidizing my daughter's tuition at a state university based on a "lottery scholarship." The poor being taxed to subsidize the tuition costs of the rich and upper middle classe. But hey...if flushing money down the toilet is what turns you on...be my guest! Link to comment Share on other sites More sharing options...
BB27 Posted February 24, 2006 Share Posted February 24, 2006 Actually, one could look long and hard at the so-called "education" benefit of many of these lotteries. In many states the money goes to scholarships to students regardless of financial need and based on (sometimes) minimal academic achievemnt. In most of these cases the students would have gone to college anyway with either parental payment or student loans. So what happens is the poor trailer park guy picking up his six pack and putting ten bucks on his quick picks is subsidizing my daughter's tuition at a state university based on a "lottery scholarship." The poor being taxed to subsidize the tuition costs of the rich and upper middle classe. But hey...if flushing money down the toilet is what turns you on...be my guest! 610435[/snapback] Idon't have a problem with any american getting help to go to college. As long as they are an american, it's fine with me. Here in Massachusetts we are still debating whether or not illegals should get in state tuition (which means they would go for free). I don't really see the lottery as the poor supporting the rich though, thats kind of a stretch. I play the lottery when I want to. Haven't won yet, but you never know. If I do, I'll put some poor kid through school so you'll feel better. Link to comment Share on other sites More sharing options...
Buford T. Justice Posted February 24, 2006 Share Posted February 24, 2006 Actually, one could look long and hard at the so-called "education" benefit of many of these lotteries. In many states the money goes to scholarships to students regardless of financial need and based on (sometimes) minimal academic achievemnt. In most of these cases the students would have gone to college anyway with either parental payment or student loans. So what happens is the poor trailer park guy picking up his six pack and putting ten bucks on his quick picks is subsidizing my daughter's tuition at a state university based on a "lottery scholarship." The poor being taxed to subsidize the tuition costs of the rich and upper middle classe. But hey...if flushing money down the toilet is what turns you on...be my guest! 610435[/snapback] No one is forcing the poor trailer park guy to spend his money on the lottery. It's all about personal choice. He's not being "taxed" he's choosing how to spend his money. If I were him, it would be going to better my childrens life. If he wants to spend it on a dream, then he only has himself and his family to answer to (or the public if he's using welfare dollars for it.) As for myself, I have a extra dollar to spend on a dream AFTER I take care of all my responsibilities and ensure a good future for my wife and children (when I have kids that is.) You might say it's stupid and that's fine for you, but I know where to find at least 8 people who would say otherwise. Link to comment Share on other sites More sharing options...
tennesseeboy Posted February 24, 2006 Share Posted February 24, 2006 Hey..I play poker twice a month, and win some and lose some. A little more challenging than scratching a ticket, but I guess its gambling. At least I get to shoot the sh-- with a group of friends and eat pizza while I'm doing it. If buying tickets floats your boat...more power to you. Link to comment Share on other sites More sharing options...
Just Jack Posted February 24, 2006 Share Posted February 24, 2006 MegaMillions is up to 210+ million. I chose the cash option, was that wise? 610368[/snapback] It would be somewhere between $60M - $100M after taxes. You might be able to switch to payments when making your claim. Except that I'm going to win. Link to comment Share on other sites More sharing options...
taterhill Posted February 24, 2006 Share Posted February 24, 2006 MegaMillions is up to 210+ million. I chose the cash option, was that wise? 610368[/snapback] always pick the cash option Link to comment Share on other sites More sharing options...
Ghost of BiB Posted February 24, 2006 Share Posted February 24, 2006 It would be somewhere between $60M - $100M after taxes. You might be able to switch to payments when making your claim. Except that I'm going to win. 610703[/snapback] so, we splitting the prize, huh? I can get by on 30 million, how about you? Link to comment Share on other sites More sharing options...
mead107 Posted February 24, 2006 Share Posted February 24, 2006 I have the winning ticket . Link to comment Share on other sites More sharing options...
Acantha Posted February 24, 2006 Share Posted February 24, 2006 I wonder if that's the pickle juice BF was talking about in his retatta recipe. Kind of makes me want to barf just thinking about it. 608889[/snapback] Gross, but at least it finally gives an answer to why it takes him so long to make. Link to comment Share on other sites More sharing options...
Just Jack Posted February 25, 2006 Share Posted February 25, 2006 so, we splitting the prize, huh? I can get by on 30 million, how about you? 610923[/snapback] Easily. $1M is going right into an IRA/401K, not to be touched until I'm 60, or later if that's my choice. After that, pay off all my bills, and wait 1 year before making new ones. Here's last night MM numbers.... 3, 5, 12, 16, 34 Megaball: 27 No 1st prize winners, so "The Mega Millions Jackpot for February 28, 2006 will be $256,000,000.00, including the annuity interest earned over a 25 year prize payment period." Link to comment Share on other sites More sharing options...
mcjeff215 Posted February 25, 2006 Share Posted February 25, 2006 The lottery...A special tax for the stupid. 610371[/snapback] I hear that a lot, but you know what? Here in GA, the stupid have paid for half of my college education and will pay for my daughter's Pre-K. So I hope they continue to play. Hell, I do sometimes. Not because I have any true belief I'll win, but it's just kinda fun. In short, if you're a B student or better in High School, college is free. Pre-K is free for everyone. There are some problems, but it's worked out well. When I was growing up in Buff, my mother worked at Georgia Pacific. They used to buy tickets every week. One time, we had the first FIVE numbers on the NYS Lotto correct... the 6th? We chose a FOURTEEN as opposed to a FIFTEEN. The split would have been about 4 and a half million each. We got about three hundred bucks. Link to comment Share on other sites More sharing options...
Fezmid Posted February 25, 2006 Share Posted February 25, 2006 Easily. $1M is going right into an IRA/401K, not to be touched until I'm 60, or later if that's my choice. Not to burst your bubble if you happen to win, but you can't do that... There's a yearly maximum you can put into each - 401(k) is around $14,000 (and I think it needs to be income from a job, you can't just open up your own account I don't think), and the IRA is less than $6,000... That won't put a big dent into your $1,000,000 requirement... http://beginnersinvest.about.com/cs/iras/a...ontribution.htm CW Link to comment Share on other sites More sharing options...
Fezmid Posted February 25, 2006 Share Posted February 25, 2006 When I was growing up in Buff, my mother worked at Georgia Pacific. They used to buy tickets every week. One time, we had the first FIVE numbers on the NYS Lotto correct... the 6th? We chose a FOURTEEN as opposed to a FIFTEEN. The split would have been about 4 and a half million each. We got about three hundred bucks. 611299[/snapback] My mom plays the same numbers all the time for the NYS lotto - one ticket for (almost) every drawing. A week before my wedding (in '01), she was busy with wedding stuff and didn't buy a ticket. Her numbers came up, and one of my aunts got really excited and called my mom, only to find out she hadn't played it that time.... That kinda sucked CW Link to comment Share on other sites More sharing options...
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