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$1.3 billion Lump sum after DCF adjustment and income taxes: $422 million After estate tax: $200 million
by kolbe 2y ago
$1.3 billion
Lump sum after DCF adjustment and income taxes: $422 million
After estate tax: $200 million
- moomoo11 2y agoLotto is made to generate taxes right? Dude got a 200 million check for doing absolutely nothing (in the grand scheme of things) and the state got a bunch of money from state sanctioned gambling.
- pestatije 2y agohe definitely did something, otherwise lotto wouldnt exist
- 2024throwaway 2y agoWhat value did he produce?
- falkensmaize 2y agoI don’t really object to taxation of winnings like this in principle. It’s knowing that said money is essentially being thrown into the financial black hole that is the United States government that bothers me. The unending waste of it all, and yet people want to give even more money to them.
- pixl97 2y agoAh yes, I'm sure you'd do far better as king libertarian dictator, right before you got ate by a bear.
- falkensmaize 2y agoYou’re incredibly far off base. I’m not a libertarian in the least. I’m all for well run government that uses its money to help its citizens. Unfortunately we don’t have that kind of government. But if you want give even more of your paycheck to help fuel the war machine and fund bloated useless department of redundancy departments be my guest.
- theGeatZhopa 2y agoHe haven't even learned.
- PenguinCoder 2y agoAfter US healthcare cancer treatments, -$3mil.
- xenospn 2y agoWhy does estate tax apply?
- defen 2y agoDepends on how long he has to live and set things up to work around it, but Oregon has an up to 16% estate tax + federal estate tax of up to 40%. Kicks in after 16 million or so.
- silisili 2y agoI think this was meant to be a dark comment. They only apply upon death when wealth is being passed to heirs. However, he's married, so in the unfortunate event of his death, AFAIK his wife would -not- have to pay any estate taxes.
- onionisafruit 2y agoI assume that’s because he has cancer. I hope it doesn’t apply to him for many years though. Imagine winning the lottery then dying six months later. Your heirs pay $200M for the privilege of you having that money for a few months.
- xenospn 2y agoI’d be ecstatic that I set my family up for life and die with a smile on my face.
- theGeatZhopa 2y agoAnd die like king tut.. spend the half on the passing haha
- auntienomen 2y agoThe money doesn't belong to the heirs. Winner can donate all of it if he wants.
- readthenotes1 2y agoI don't know. I thought people set up trusts to get around that
- KerrAvon 2y agoThere are plenty of ways the wealthy can avoid or reduce estate taxes -- giving most of it to charity is one unselfish way. The problem with lottery winners, as someone else has mentioned, is that they're often easy prey for grifters, so they're going to have to try to be as anonymous as possible when finding help.
- TacticalCoder 2y ago> $1.3 billion > ... > After estate tax: $200 million What's the most amazing is that with such a confiscatory scheme in place, the monkeys at the helm still managed to create 130% public debt and are concerned that they cannot sustain the debt payments anymore. And others shall push to make more of what didn't work: more taxes, we'll solve everything with more taxes, for the gubernment knows best!
- throwawaymaths 2y agoThe public debt is and never will be practically serviceable with income tax as it's designed to be an exponentially growing nominal value. The amazing thing is that with all that confiscation we can't fix basic social problems or even build a freaking high speed rail.