My first post and I'm writing as the economist I am during the day. I run pay sites and do affiliate marketing so I should probably do an intro now.

Anyway, it's the basics of net present value plus taxes when bringing the big number down to what a person could get right now. Bird in the had vs. two in the bush.

For example, Powerball tonight has a jackpot of $125 million. But that's the total amount paid if you take it over 30 years. And because a million thirty years from now is worth considerably less in the hand right now, the cash payout is $63.7 million. Less taxes it'd be $35-40 million net depending on the rapaciousness of your state. So figure roughly a third of the total to get cash in hand. Making the $90 net estimate from the $312 pretty accurate because NY has high taxes.

And the first thing I'd do would be to set up a blind trust to claim the prize so I don't have every asshole around at my door telling me how they deserve some because I have so much and can afford to give some to them.

Goldman Sachs CEO is a rich asshole and you could be a rich Mother Teresa, right?
Mike Tyson is an idiot for losing his millions and you could have never lost millions, right?
Your boss is a moron and you could do a better job, right?
The US President Barack Obama is a moron and you could do a better job for half the price, right?

Joe is a great man oppressed by Harvard mediocrities.

A college degree means nothing, right? (heard many times on this board)

Of course conspiracies happen. There's a huge difference between the existance of conspiracies, and actually believing that an ultra-secret, exclusive group of people called The Illuminati, a group that's actually been dead centuries, rules the entire World. Not only do they rule the World, they do things like organize and carry out the events of 9-11, but not before placing hints for Internet investigators to later find all through pop culture.

See the difference? If you can't, you can join Pornretard69 in his club of losers. It's a whole lot less exclusive and membership is growing daily!

Sorry, this lottery thing really got me going. :1orglaugh

I'm out of here. :)

:thumbsup:thumbsup

i won it.. who wants $1mil? first reply gets it

haha....

Wah? Really? State and Federal taxes take 60+ percent of the winnings? How is that possible?

Having said that, I would still be happy with the 90mil :)

It was $190 mil if you took the cash. In California at least, there's no state tax on lotto winnings, but I see in NY it's 6.85%, plus they automatically take out 25% federal. If the winner is taking the lump sum, they're walking away, after taxes, with $130 million.

I agree with the blind trust. So many people not only have their name published, but also do media interviews. That's just stupid. They'll be getting solicitations for that money for the rest of their lives lol.

pretty sweet deal for the gov. i pay enough in taxes, fuck giving them more money.

Bet it all on the YO

if i could find a way to not let anyone know i won, i would...

i will just quietly have my money... and never work again.lol

:1orglaugh:1orglaugh thats the way to do it. If I ever won the lottery, I wouldn't tell anyone. would be hard, but would be well worth not having the hassle.

I buy stuff slowly and tell family/friends I created and sold off online businesses or tell them I made investments, blah blah blah. Making it sound like you EARNED the money is the best way.

ya cuz if they know u won, everyone is gonna come to me for money.. pay my mortgage, etc.. if i won $300mil id have everyone believe i found a new online biz thats making me some little money.. so that way i can explain the new mercedes, but not enough money that i gotta pay off $500k mortgages.lol