After I win the $500,000,000. Power-Ball lottery we will move to Wyoming to
avoid Utah's confiscatory 5% income tax, thus saving a cool 25 million
dollars. I will then hire Mitt's tax guy to avoid ever having to pay more
than 15% in taxes!
And you wondered how those proffesional NFL players and some other sports
athletes go broke in a hurry. Remember Big Ostetag gives very little tips at
restraunts which was smart of him (I think).
One has to wonder the difference between the lottery and Wall Street investment
Lottery truly is a tax on the stupid...
I agree with BSR, it's a stupid tax. And not nearly as much fun as
blackjack with free beer in vegas. At least there you get some value there even
if you don't do well. But, since I was going out to Free America anyway and
a whole bunch of friends needed me to pick up the tickets they bought, I got
some to. And I'd be willing to take on the challenge of managing a big win,
if necessary. And I think I'd do well with it.
@DEW - "Remember Big Ostetag gives very little tips at restraunts which was
smart of him (I think)." That doesn't make Ostertag frugal, it just
makes him a jerk. I'm yet to meet a person who's met Greg Ostertag
that's told me about what a nice guy he is. Anyone that I've ever
talked to that's ever met him, didn't like him. Servers at restaurants
make most of their money off tips because they are only paid like $2/hr. The
same goes for anyone who works for tips. But, you do bring up a good
point about professional athletes. Many of them need to take the advice of these
lottery winners. Most of them come from humble backgrounds and think that now
they're "big time" the money will just keep rolling in. But all it
takes is an injury, a bad deal/investment or simply putting their trust in the
wrong people, and they end up just as broke as they were to begin with.