How many Liberals will enjoy giving up nearly 70% of the Powerball Jackpot away in taxes?
Isn't that what they want.?
Plus, how many Liberals will use it wisely and help out humanity?
My guess is that every single one of them will complain big time, when then realize just how much they have to pay in taxes. Even if you take the single payment offer (which is around $360 million), don't they know or realize that they will still have to pay taxes on the $600 million that they won.
Also, I doubt that more than 5% will help out humanity in any form what-so-ever.
bmovies602013-05-18T07:13:19Z
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Sure, 70 percent is alot. BUT I'd gladly take 30 percent of 600 million (180 million) any day! What were you planning to do if they gave you 30 percent? Toss the check back in their faces?
cosmo writes: "Nobody's combined Federal, State, and City income taxes exceed 45%."
True, but when it comes to a lottery jackpot, if you take the lump sum payment instead of an annual payment, The state takes 50 percent off the top of your jackpot and taxes you on the rest. You wind up with somewhere in the neighborhood of 30 percent of what the jackpot is. Over a decade ago my next door neighbor won 3 million dollars, chose the lump sum payment option, and they paid him 960 thousand. He was angry because he thought lump sum payment meant he would be getting the entire 3 million.
O.....The trouble with liberals is just that they know so much that isn't so. The Liberal ideology is a theory , fostered by a delusional, illogical minority and which holds forth beliefs that have no basis in reality. They are Advocates of a policy that empowers a strong federal government to enslave its people with a high tax burden incident to the support of extravagant and unnecessary social programs destructive to both the work ethic among the lower class, and the incentive to innovate and succeed among the working class. "When the people find that they can vote themselves money, that will herald the end of the republic." Liberals like to spend other peoples money!! The problems we face today are because the people who work for a living are outnumbered by those who vote for a living.
Clearly, you have no understanding of your nation's tax system, which is something you SHOULD be deeply ashamed of, but I suspect that isn't going to happen! NOBODY in the USA pays "nearly 70%" of their income in taxes...
You have a "progressive" tax system, and for 2013 the highest marginal rate is 39.6%, which is owed on any income ABOVE $250,000...thus the absolute highest possible tax that will be due on the Powerball Jackpot is 43.4%...
It is both amusing and a little sad that you needed a foreigner like me to explain your own system to you!
It 43.4% "a lot"? Arguably....but it certainly isn't "nearly 70%", and it is precisely that sort of typical conservative exaggeration that explains Obama being reelected....when Romney claimed that 49% of Americans "paid no taxes" (rather than telling the TRUTH*), he basically won the election FOR Obama...
The rich danced to the tune for eight years and the taxes they pay right now are nonetheless under the Bush tax cuts till 2010. Tax Cuts present Most for extraordinarily wealthy, study Says by way of EDMUND L. ANDREWS WASHINGTON, Jan. 7 — households earning greater than $1 million a yr saw their federal tax rates drop more sharply than any staff within the nation therefore of President Bush’s tax cuts, in keeping with a brand new Congressional be trained. The gain knowledge of, by means of the nonpartisan Congressional price range place of job, additionally indicates that tax premiums for middle-sales earners edged up in 2004, probably the most recent 12 months for which data was on hand, whilst premiums for folks at the very prime persevered to say no. Founded on an exhaustive analysis of tax files and census data, the be taught reinforced the feel that at the same time Mr. Bush’s tax cuts reduced charges for humans at each sales degree, they furnished the most important advantages by means of a ways to folks on the very top — exceptionally the top 1 percent of income earners. Although tax cuts for the wealthy had been larger than these for other organizations, the wealthiest households paid a bigger share of total taxes. That is in view that their incomes have climbed a ways more rapidly, and the hole between wealthy and terrible has widened in the final several years. The study offers ammunition to supporters and opponents of Mr. Bush’s tax cuts, that are all however targeted to touch off a battle between the president and the Democrats who just took manipulate of Congress. Democratic leaders have taken pains to preclude an instantaneous battle over the tax cuts, most of which can be scheduled to expire at the end of 2010. But Democrats are looking for ways to increase revenue good before then, in part due to the fact they want to spend more on education and vigor with out increasing the deficit. Economists and tax analysts have lengthy known that the most important dollar price of Mr. Bush’s tax cuts goes to men and women on the very high sales phases. One rationale is that two of his signature measures, tax cuts on investment sales and a consistent reduction of property taxes, overwhelmingly advantage the wealthiest households 95% of the populace have a decreased payroll taxes.
First, there are Republican red states like Utah that restrict your freedom to play the lottery because of some dumb religion they believe in yet you bring up only liberals,
Second, Its millions of $$$$ even after taxes that couldn't be spent in a life time by normal people even if you really really indulge yourself,
Are republican just silly angry people who complain about everything even nonsense?
Last Power Ball cost 2 bucks, in return for millions of $$$