Just imagine ... 800 million | GTAMotorcycle.com

Just imagine ... 800 million

chiller

chiller

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Just imagine winning ? the sum is so mind boggling, 0.8 BILLION dollars ... 50 million LottoMax is great and totally life altering ... 0.8 BILLION is empire building ...

http://money.cnn.com/2016/01/08/news/powerball-jackpot-800-million/index.html

Draw is Saturday night, they could potentially sell another $100 million in sales between now and then have a 0.9 BILLION dollar lotto ... crazyness
 
Blackfin said:
I'd settle for a lousy million.

:)
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LOL why settle for a million when you can have nearly a billion :p :p

the crazy part is i read somewhere that 80% of all lotto winners are broke in 10 yrs ... can you imagine being on the news as the guy who won a billion dollars and is now broke ? LOL
 
chiller said:
LOL why settle for a million when you can have nearly a billion :p :p

the crazy part is i read somewhere that 80% of all lotto winners are broke in 10 yrs ... can you imagine being on the news as the guy who won a billion dollars and is now broke ? LOL
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I read an article that Canadians are buying tickets. Boy that'd piss some people off south of the border if a Canuck 'stole' 'their' prize.
 
klr_guy said:
I read an article that Canadians are buying tickets. Boy that'd piss some people off south of the border if a Canuck 'stole' 'their' prize.
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it is legal ... it says so on there website : link here : http://www.powerball.com/pb_contact.asp

quote :

CAN A NON-RESIDENT WIN POWERBALL?

If you legally purchase a Powerball ticket, you can play the game and you can collect prizes. You do not have to be a citizen or a resident to play the game. You can be a tourist. That said, some states do have rules that seem to imply that a winner must produce evidence of citizenship or a federal SSN, but there are other ways to hold back taxes for a winner who does not have a U.S. SSN. Occasionally, some state lawmaker talks about limiting wins to U.S. citizens, but no laws have passed so far.
 
Group buy? I'm in.

Sent from a Samsung Galaxy far, far away using Tapatalk
 
chiller said:
it is legal ... it says so on there website : link here : http://www.powerball.com/pb_contact.asp

quote :

CAN A NON-RESIDENT WIN POWERBALL?

If you legally purchase a Powerball ticket, you can play the game and you can collect prizes. You do not have to be a citizen or a resident to play the game. You can be a tourist. That said, some states do have rules that seem to imply that a winner must produce evidence of citizenship or a federal SSN, but there are other ways to hold back taxes for a winner who does not have a U.S. SSN. Occasionally, some state lawmaker talks about limiting wins to U.S. citizens, but no laws have passed so far.
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True, but you'd have to pay income tax in the US, and possibly Canada too! But even if they add up to 60%, I'd be okay with winning $320 million USD. That's like 0.8 Billion CDN anyways :p
 
The only ones who win, are those who take their cut off of the top, and quietly slip away into the shadows.
 
WoBblyCaT said:
True, but you'd have to pay income tax in the US, and possibly Canada too!
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with my warmestest heart & feeling :hippy2::albino::bunny:, i say: wining lotery for CND nut considured income. considured windfall, so NO TAX for CND! :bigsmurf::angel7::toothy4:
 
Dreamy Boom Boom said:
with my warmestest heart & feeling :hippy2::albino::bunny:, i say: wining lotery for CND nut considured income. considured windfall, so NO TAX for CND! :bigsmurf::angel7::toothy4:
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wtf?

US lottery win=income, bend over for the tax man. They don't care where you live, they want their cut.
 
Blackfin said:
I'd settle for a lousy million.

:)
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I'd take about $50K, enough to pay off my mortgage and all our remaining debt, and call it good. I'm not greedy.

Wouldn't turn down more, though. ;)
 
GreyGhost said:
wtf?

US lottery win=income, bend over for the tax man. They don't care where you live, they want their cut.
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Yeah, but you can file to reclaim about half of what you paid.

Keep in mind that the 800 million is the annuity pre tax amount.
If you opt for the cash payout it can be from 20 -60% less depending on the state. But in the end, give me 2 milly, and the wife and I can retire. Give me 1 milly, and wifey still has to work ?.

Sent from a Samsung Galaxy far, far away using Tapatalk
 
Actually how it works

You can have a one time payout thats about...i think 55% of the original prize
Or the 800 million can be paid to you as an annuity over 30 years

In both cases, you get taxes 25% from the get go and depending on what state or jurisdiction you live in, their taxes too.

Reading a few articles on it, depending on what you invest it in, the annuity might be better if you put it in safe investments (5% lower return) but if you put it in something with higher returns, the one time payout is better.
Oh and also, that takes into consideration that income tax will always increase (which it will but only to a certain point which they don't seem to explicitly calculate)
 
LePhillou said:
Actually how it works

You can have a one time payout thats about...i think 55% of the original prize
Or the 800 million can be paid to you as an annuity over 30 years

In both cases, you get taxes 25% from the get go and depending on what state or jurisdiction you live in, their taxes too.

Reading a few articles on it, depending on what you invest it in, the annuity might be better if you put it in safe investments (5% lower return) but if you put it in something with higher returns, the one time payout is better.
Oh and also, that takes into consideration that income tax will always increase (which it will but only to a certain point which they don't seem to explicitly calculate)
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So....basically what I said?? ?

Sent from a Samsung Galaxy far, far away using Tapatalk
 
Joe Bass said:
So....basically what I said?? 

Sent from a Samsung Galaxy far, far away using Tapatalk
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No.
Because i'm different and i'm special.

And because i talked about investment options :D
 
meme said:
"You don't think about it at the time"


Ummm, yes you do. You've just gotten more money than you know what to do with. Not saying hire a FA but do something to keep the moolah ya just won. Stupidity.

Then again, 9 kids....
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Most people would need to hire someone... the ones that wouldn't.. already have someone working for them.
 
meme said:
Then again, 9 kids....
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Some people just aren't good with money. A girl I know, 0 kids, blew a big inheritance because yolo.
 
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