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Economic Disparity & The 1.5 Billion Dollar Lottery

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posted on Jan, 12 2016 @ 10:34 AM
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With the current power ball lottery hovering around 1.5 billion dollars, I was wondering.....

What might happen if the winner decided to give every man, woman & child in America 1 million dollars each?

With one of the biggest problems facing America today being income disparity and seeing a lottery that's fixing to pay out a cash value somewhere in the neighborhood of 900 million, the winner could give away 300 million and still be left with 600 million for themselves.

My wife & I were discussing what we'd do with the money if we won and this came up as one of the options.

So, what do you think would happen?

Would this lead to total chaos?

Would everyone quit their jobs?

Would it end homelessness, poverty & welfare in America, even if just temporarily?

What would the long term implications look like?

Would it be good, bad or ugly?

What say you, ATS?

ETA; It's been pointed out that my math is on par with that of Jethro Bodene and I apologize. Guess we're going to need a bigger lotto.
edit on 12-1-2016 by Flatfish because: (no reason given)



+5 more 
posted on Jan, 12 2016 @ 10:37 AM
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Check your math.



posted on Jan, 12 2016 @ 10:39 AM
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a reply to: Flatfish

That is a very interesting question.
I think in the short term it would help those in poverty.
I have talked with my friends in the past about giving them money if I won, but giving to everyone is an impressive idea.



posted on Jan, 12 2016 @ 10:40 AM
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Would it not be about $3 each after taxs.



posted on Jan, 12 2016 @ 10:40 AM
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a reply to: Flatfish

Um, I came up with 4 dollars and change, before taxes.

But I don't know maths too good.



posted on Jan, 12 2016 @ 10:40 AM
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originally posted by: Flatfish
With the current power ball lottery hovering around 1.5 billion dollars, I was wondering.....

What might happen if the winner decided to give every man, woman & child in America 1 million dollars each?

With one of the biggest problems facing America today being income disparity and seeing a lottery that's fixing to pay out a cash value somewhere in the neighborhood of 900 million, the winner could give away 300 million and still be left with 600 million for themselves.

My wife & I were discussing what we'd do with the money if we won and this came up as one of the options.

So, what do you think would happen?

Would this lead to total chaos?

Would everyone quit their jobs?

Would it end homelessness, poverty & welfare in America, even if just temporarily?

What would the long term implications look like?

Would it be good, bad or ugly?

What say you, ATS?


Um, people would be pissed off around the 750th (taxes) person in line.



posted on Jan, 12 2016 @ 10:41 AM
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originally posted by: queenofswords
Check your math.


How do you mean?

Sometimes I can't see the forest for the trees. What did I miss?



posted on Jan, 12 2016 @ 10:43 AM
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originally posted by: Flatfish

originally posted by: queenofswords
Check your math.


How do you mean?

Sometimes I can't see the forest for the trees. What did I miss?


1.5 billion divided by 320 million.

Or 1.5 divided by .320

Should get you the same results.



posted on Jan, 12 2016 @ 10:43 AM
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a reply to: Flatfish

That's what my wife and I were discussing a few days ago. We'd realistically go ape sh!t with a few million, put $50 million away in a conservative investment and live off the interest and do lots of good with the remaining money.

We probably wouldn't outright give people $1 million each, but probably go with needs based grants, where we'd setup a charitable foundation and directly pay people's bills, etc.

$700 or $800 million could help 8k people with $100k, 16k people with $50k worth of assistance, etc.



posted on Jan, 12 2016 @ 10:44 AM
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a reply to: Flatfish

The cost of postage and money orders would kill the whole $1.




posted on Jan, 12 2016 @ 10:45 AM
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Approximately 322 million people in the usa.
Approximately 114 million "households" in the usa.
One would still be able to give significantly to "everyone"".
I think it is a very interesting concept. Surely shearing is a concept everyone can get behind?



posted on Jan, 12 2016 @ 10:45 AM
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a reply to: Flatfish

Do you think you could give 300,000,000 people $1,000,000 each with just 1.5 billion dollars?


+8 more 
posted on Jan, 12 2016 @ 10:46 AM
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If you gave 1 million dollars out to as many people as you could from 1.5 billion, it would mean only 1,500 people would get 1 million dollars.

There's a meme going around on Facebook right now that if 1.3 billion dollars were shared with 300 million people, each would get 4.3 million dollars.

Wrong.

Each would get 4 dollars and 33 cents.

I think that 1.3 billion should go into re-educating people with math..........
edit on 1/12/2016 by eriktheawful because: (no reason given)



posted on Jan, 12 2016 @ 10:46 AM
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originally posted by: queenofswords
a reply to: Flatfish

Do you think you could give 300,000,000 people $1,000,000 each with just 1.5 billion dollars?



That's the same math they used to figure how affordable Obamacare was going to be.

hahahahahaha



posted on Jan, 12 2016 @ 10:47 AM
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originally posted by: queenofswords
a reply to: Flatfish

Do you think you could give 300,000,000 people $1,000,000 each with just 1.5 billion dollars?



Never mind, I can see now, I need more zeros.



posted on Jan, 12 2016 @ 10:49 AM
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I guess there's something to be said for teaching better arithmetic in the schools of mass education.



No wonder the economy is up-side-down.



posted on Jan, 12 2016 @ 10:50 AM
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originally posted by: Flatfish

originally posted by: queenofswords
a reply to: Flatfish

Do you think you could give 300,000,000 people $1,000,000 each with just 1.5 billion dollars?



Never mind, I can see now, I need more zeros.


That's what Obama said.




posted on Jan, 12 2016 @ 10:51 AM
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Is there a cap on the prize or can it keep rolling over indefinitely?



posted on Jan, 12 2016 @ 10:53 AM
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originally posted by: eriktheawful
There's a meme going around on Facebook right now that if 1.3 billion dollars were shared with 300 million people, each would get 4.3 million dollars.


The only way that would work would be if the jackpot was 1.3 quadrillion dollars. Someone can't math.
edit on 12-1-2016 by Junkheap because: (no reason given)



posted on Jan, 12 2016 @ 10:53 AM
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a reply to: Flatfish

What?

OMG, can some of you not do basic math?

Lump sum after tax will probably be around 600 million.

You can give every household less that $6 dollars.



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