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Powerball winners would have paid $17.7 mil more in taxes if they won after going over ‘fiscal cliff

Discussion in 'Current Events' started by BIV, Nov 29, 2012.

  1. BIV

    BIV I'm Biv Dick Black, the Over Poster.

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    http://news.yahoo.com/blogs/ticket/...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
     
  2. Ballbuster1

    Ballbuster1 In The Danger Zone...
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    I think I could still survive on winning over 100 million.
    Nice return for 2 bucks.

    But it is still disgusting the amount of money the gubbernment
    takes in and still runs seriously in the red.
     
  3. Absolutely

    Absolutely Self-Heavy

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    I'm not sure how the inevitable hayseed winner will ever survive without that extra $18M.
    Assuming this is the type of person who wins, they'll need that money to maintain their lavish lifestyle. Trucker hats and Pall Malls don't buy themselves.
    [​IMG]
     
  4. Don the Radio Guy

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    Don't blame the "fiscal cliff". Blame the regime.
     
  5. Motor Head

    Motor Head HIGHWAY TRASH REMOVAL

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    That's a lot of Gibsmedats! Mitch McConnell busted out laughing at Tim Geitner today when he proposed what Obama wanted to do. Essentially it was "tax the rich and maybe we might cut something next year or something".
     
  6. MagicBob

    MagicBob Registered User

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    damn those winkle toed socialists regimes that used to make us pay alllllll that extra tax waaaaaaaay back in 1917-1924 and 1932-1987 and 1991-2003!!!!

    I'm sure glad the country isnt headed down the communist trash chute it obvious was back then and we pay lower taxes now.


    :action-sm

    oh yes... almost forgot... because FREE STUFF!!!!!
     
    #6 MagicBob, Nov 29, 2012
    Last edited: Nov 29, 2012
  7. tattered

    tattered Uber-Aryan
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    Yeah im sure they would be fine for a few years beings most lottery winners are broke in 5-10yrs anyway but the point of the article to is to point out just how much taxes would jump by using lottery numbers to make it more shocking
     
  8. MayrMeninoCrash

    MayrMeninoCrash Liberal Psycopath

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    Anyone who complains about getting taxed an extra $18M after winning half a billion dollars deserves a punch in the nuts.
     
  9. Ballbuster1

    Ballbuster1 In The Danger Zone...
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    I think the point is more that the govt continues
    to take more and more and still is deeper than ever in debt.

    I'd have no problem paying the tax but I know the money
    will not be well spent.
     
  10. tattered

    tattered Uber-Aryan
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    exactly they are just gonna give it to the ni.........
     
  11. Turfmower

    Turfmower Registered User

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    there where 2 winners so that is 36 Million
     
  12. Ballbuster1

    Ballbuster1 In The Danger Zone...
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    Or themselves. Not sure which is worse at this point.
     
  13. MayrMeninoCrash

    MayrMeninoCrash Liberal Psycopath

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    You suck at reading

     
  14. Don the Radio Guy

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    Bullshit. That money comes from a pool of money earned (and already taxed at least once) by the people who played the lottery. Attitudes like yours are why we're in the mess we're in now. Enough is enough.
     
  15. tattered

    tattered Uber-Aryan
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    don is right. the money the pool comes from has already had its federal and state income taxes deducted from it. its kind of ridiculous that this same money again has to have the same taxes taken out of it again
     
  16. MayrMeninoCrash

    MayrMeninoCrash Liberal Psycopath

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    With that logic there would be no taxes because all money has been "taxed" at some point. What if I bought a lottery ticket with a dollar my grandmother gave me for my birthday?

    I shouldn't have taxes taken out of my paycheck, because it's paid for by selling goods that have had taxes paid on them by people who bought them using money that they had taxed when they were paid.
     
  17. Don the Radio Guy

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    All of these are reasons why progressive income taxation is a broken system by design. It's designed to invoke class warfare, and this story/thread is a perfect example.
     
  18. Myhairygrundle

    Myhairygrundle Screw you guys, I'm going home.

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    I'll be bold and say it should not be taxed at all. Like any cap gains, the money used to take the risk has already been taxed. Rich,poor, whatever....if you risk your money, you should keep 100% of your return tax free.
     
  19. Turfmower

    Turfmower Registered User

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    i didn't read it i just looked at the title :)
     
  20. Norm Stansfield

    Norm Stansfield 私は亀が好きだ。

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    And if you earn it you shouldn't?
     
  21. Norm Stansfield

    Norm Stansfield 私は亀が好きだ。

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    Do you have federal income taxes taken out of your paycheck?
     
  22. domelogic

    domelogic Registered User

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    Fixed that for you.
     
  23. stevethrower

    stevethrower Got Sig?

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    Always though it was odd you had to pay tax on lottery winnings as it is basically a government agency (ish) that is running it... like if you win anything in say a Ontario Casino or Lottery you don't have to pay tax on it. Also if you win 20 million you get 20 million in a lump sum... none of this x amount of dollars spread over 30 years or whatever.

    Stoopid question if you get the yearly payout and you snuff it... do they still keep paying your estate?
     
  24. MayrMeninoCrash

    MayrMeninoCrash Liberal Psycopath

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    Yes why? I'm not a 47% er
     
  25. BIV

    BIV I'm Biv Dick Black, the Over Poster.

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    Nope. Which is why they do it.
     

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