Mega Million is Up To A Billion Dollars

[AZrailwhale]

dont fool yourself,, you have 50/50 chance of winning,,

might just go ahead and put 2 dollars in myself,,

You have zero chance of winning if you don’t play. Throwing ten bucks away for a minuscule chance is still a chance at life-changing money. The question is “ do you feel lucky punk?”

 

[Thunk]

the gov't automatically takes out 33% or so, then the state gets their share.

Then when you croak the fed gov estate taxes (death taxes) takes most of it & the state polishes off the crumbs leaving your family with 1% (maybe).

And this is money you already paid taxes on!

 

[egp320i]

Then when you croak the fed gov estate taxes (death taxes) takes most of it & the state polishes off the crumbs leaving your family with 1% (maybe).

And this is money you already paid taxes on!

no kidding, it's a real racket but hey trump had 4 years to do something about it but he was just too busy I guess for problems of this nature but he has a 2nd crack at it now

 

[Yarddog]

I know there ain't a chance in hell I'm gonna win...but it's kinda fun to cogitate on

well, the good thing of it being at that level is if you only hit 5 of 6 numbers, its still a boat load of money. I have hit 4 out of six a couple times in my life so I dont think its a bad move to waste a couple dollars.

 

[egp320i]

well, the good thing of it being at that level is if you only hit 5 of 6 numbers, its still a boat load of money. I have hit 4 out of six a couple times in my life so I dont think its a bad move to waste a couple dollars.

I have no luck at lotto, I play my state, costs a buck, you get two numbers a free ticket, hell you get 4/5 you only win like 1000 bucks

I have yet to even get 3/5 which pays like 10 bucks.......lol

 

[g5000]

Give over half of it to the Government and pay taxes on the rest of it until you die or spend all of it.

You only pay taxes on it once.

However, I understand billionaires pay no taxes.

 

[g5000]

I went grocery shopping this morning & as I walked out I saw the lottery machine...the mega-millions jackpot is just a hair under a Billion (with a "B") dollars.

I don't usually play...but I broke down & put a 10 spot in for 5 tickets...The drawing is tomorrow night.

Now...what would I do with a BILLION dollars?

There are literally less people over the age of 18 in America than the odds of winning.

There are 260 million people eligible to play. The odds of winning the jackpot are one in 302 million.

That's why the pot keeps going up.

Also, the odds of winning are exactly the same for a $10 million jackpot as for a billion dollar jackpot.

The lottery is for people who are bad at math.

 

[ThunderKiss1965]

You only pay taxes on it once.

However, I understand billionaires pay no taxes.

Put the rest in a bank it draws interest and you pay taxes on it. Most billionaires don't pay income taxes because they don't take a salary, however they will pay taxes on stock gains. For people like Elon Musk when he has a good year in the stock market he probably pays more to the Fed than every one on this site, combined, does during our entire working lives. It's the tax code.

 

[martybegan]

I know there ain't a chance in hell I'm gonna win...but it's kinda fun to cogitate on

The Lottery is a tax on people bad at math. That being said it's just enough "action" for me to satisfy my gambling bug.

 

[Thunk]

So I was thunking I'd build an ark & live on the ocean for a few years

Rather than fill it with animals...I'll fill it with delicious food & catch fish, lobster, crab & shrimp

That reminds me...I'll need to stock cocktail sauce.

 

[Mr Natural]

Never fly commercial airlines again.

 

[Thunk]

Everybody got their tickets?

The drawing is tonight

I wish EVERYBODY the best of luck!

 

[Oddball]

 

[Thunk]

They say the lottery changes people...and it does.

But not the winner. It changes everybody WHO KNOWS the winner!

 

[Thunk]

OK...I changed my mind.

I don't want an ark...I want a blimp and a 1 man submarine

 

[Missourian]

I went grocery shopping this morning & as I walked out I saw the lottery machine...the mega-millions jackpot is just a hair under a Billion (with a "B") dollars.

I don't usually play...but I broke down & put a 10 spot in for 5 tickets...The drawing is tomorrow night.

Now...what would I do with a BILLION dollars?

I could only bring myself to spend $6 on three tickets.

The clerk says "all on one ticket?".

I'm like "yeah...no point wasting paper on these losers".

 

[Thunk]

I'm like "yeah...no point wasting paper on these losers".

Why didn't you ask him for "the WINNING ticket"?

 

[Yarddog]

Never fly commercial airlines again.

You could own your own commercial airline

 

[g5000]

Put the rest in a bank it draws interest and you pay taxes on it. Most billionaires don't pay income taxes because they don't take a salary, however they will pay taxes on stock gains. For people like Elon Musk when he has a good year in the stock market he probably pays more to the Fed than every one on this site, combined, does during our entire working lives. It's the tax code.

You only pay capital gains after you sell your assets. What wealthy people do to avoid paying taxes at all is borrow against their assets. You don't pay taxes on borrowed money.

They then invest the borrowed money into new assets like rental property. They live on that income while their assets grow indefinitely. Meanwhile, their original assets grow indefinitely, making it possible to borrow more money and invest in more property.

Then they die without their original assets ever being taxed.

How Wealthy Households Use a “Buy, Borrow, Die” Strategy to Avoid Taxes on Their Growing Fortunes

Capital gains are the profits generated from wealth such as stocks and real estate. Wealthy households can use the three-step “buy, borrow, die” strategy to get massive capital gains tax advantages.

www.dcfpi.org

 

[egp320i]

ThunderKiss1965 with that amount you might be able to get 1% but there are some very safe ETF's out there that pay a solid 10% if you want your money to really grow, then again if you don't have anybody to give it to and the state/gov't gets it then screw it, bank it