Mega-Million Fever..??Hit anyone else?

[brin]

What I find stupid about these huge lottery jackpots is that it makes little sense to pay just one winner 640 million bucks...change the system so they will pay 100 people 6.4 million bucks instead. Nobody NEEDS such a huge sum of money, better to spread it around.

JD - I agree with you...but I wonder if as many folks would play...? Probably not, I have heard folks interviewed on tv say they only play when it is over $100M...so those folks would not buy a ticket....but it would be better to spread it around...and when these whole office pools win on a lottery ticket ..some employer loses almost all of their employees...that's got to be fun for the employer...unless he is in on the pool...

 

[JDgreen227]

Whenever I read about a huge winner in the lotteries, I always hope it is someone at least in their late 30's or early 40's, someone old enough to (hopefully) have established a work ethic and appreciate the worth of a dollar. To give somebody in their early twenties a huge sum of money when they have no real understanding of what meaningful work is seems like a mistake. Feel free to disagree with me if you choose.

 

[Gale Hawkins]

Whenever I read about a huge winner in the lotteries, I always hope it is someone at least in their late 30's or early 40's, someone old enough to (hopefully) have established a work ethic and appreciate the worth of a dollar. To give somebody in their early twenties a huge sum of money when they have no real understanding of what meaningful work is seems like a mistake. Feel free to disagree with me if you choose.

I agree dealing with success of any kind is harder than dealing with failure. History over the past 4000+ years shows how hard success is to hang on to after it arrives. This is true at a personal level and is the same for nations and businesses.

Money has legs and everytime it is winds up in the hands of a person that does not respect IT then it will just walk over to someone who does show money respect. Often lottery money is not well respected by the winner so it walks away.

 

[Gale Hawkins]

U.S. News - Kansas, Illinois, Maryland tickets share record $640 million Mega Millions jackpot

The above link is the source for the below text.


Americans spent nearly $1.5 billion for a chance to hit the jackpot, which amounts to a $462 million lump sum and around $347 million after federal tax withholding. With the jackpot odds at 1 in 176 million, it would cost $176 million to buy up every combination. Under that scenario, the strategy would win $171 million less if your state also withholds taxes.

No matter who wins the jackpot, one certain winner is the Internal Revenue Service. The tax-collecting agency subjects lottery winnings of more than $5,000 to a 25-percent federal withholding tax.

 

[RoyJackson]

The is big business and looked on by the people as a Happy Tax.

True...it is a "tax" for all intents and purposes...but a tax with a possibility of a personal payback (which is a major advantage over most taxes!!) and gives folks a chance to dream happy dreams for a few days.
After all, there are a few dozen people who won substantial amounts this drawing, even if not the big jackpot.
The main thing is to keep sense about you if you buy tickets...I spend 5 dollars every few weeks...I can afford that.

 

[JDgreen227]

What I find sad is that there are a huge number of people who are forced into paying a "tax" into the Social Security lottery with little or no possibility of ever winning anything.

 

[Gale Hawkins]

True...it is a "tax" for all intents and purposes...but a tax with a possibility of a personal payback (which is a major advantage over most taxes!!) and gives folks a chance to dream happy dreams for a few days.
After all, there are a few dozen people who won substantial amounts this drawing, even if not the big jackpot.
The main thing is to keep sense about you if you buy tickets...I spend 5 dollars every few weeks...I can afford that.

How are there a few dozen if only three had winning tickets. Can one win anything but the jackpot?

 

[RoyJackson]

How are there a few dozen if only three had winning tickets. Can one win anything but the jackpot?

Sure can!
In PA alone, there are about a dozen winners of lesser prizes of anywhere from $150 to $250000.
I believe I read there were 29 winners (same amounts) in CA.

 

[Gale Hawkins]

Sure can!
In PA alone, there are about a dozen winners of lesser prizes of anywhere from $150 to $250000.
I believe I read there were 29 winners (same amounts) in CA.

How does that work or you not talking about Mega-Milion game?

 

[RoyJackson]

How does that work or you not talking about Mega-Milion game?

Depends on how many numbers you match.
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