Economic Disparity & The 1.5 Billion Dollar Lottery

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.

Don't kick yourself over it. I thought it would be nice to win and show my appreciation to all the working families by giving them each a million. Turns out, my math was piss poor because I wasn't thinking correctly. Lol.

originally posted by: greencmp

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.

I made a mistake and that mistake is all mine.

Is there anything that you don't blame Obama for or is he the reason your ass needs wiping after you go to the bathroom too?

originally posted by: Flatfish




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.

I love your sense of humor! Hey! No need to apologize.

We have folks running this country that are great lawyers, smooth politicians, but money with lots of zeros after the dollar sign seems to confuse them. When it goes south, they just yell for more TAXES to cover their ineptness.

I have often considered if only the gov would stop sending money into other countries, or spending hundreds of millions of dollars on vacations... if they would instead offer 1 million to each individual in America, that it would make for very interesting times.

Now think about what it would do to prices, they would raise, people who are on social services would have the one time option to either stay on the welfare dolls or take the cash...

What it would do to crime, to the war on drugs, on homicide, on robbery and such.

Then what if Americans joined their funds and opened up factories, business and commerce together? That could be good.

Land purchases, not to mention paying down and off of all debt...

There is no reason in my mind why we can not do something like this.

OP, your idea makes me wonder, it would be very interesting if this offer was proposed. BUT think about how all the welfare mommas with 5-8-10 children would prosper! They were popping them out for social services but it could make them multimillionaires.

So perhaps per family or individual rather than each? I suppose people would go for divorce to garner more money?

Crazy, but I like the way you think. Why not?

a reply to: antar

Most of the people in your scenario that got a million dollars would be dead broke within a couple of years....you can bank on it!

a reply to: Flatfish

I would privately fund the development of my own big black triangle, then live out the rest of my days like Dan Bilzerian!

that is the humble route to take!

originally posted by: queenofswords

originally posted by: Flatfish




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.

I love your sense of humor! Hey! No need to apologize.

We have folks running this country that are great lawyers, smooth politicians, but money with lots of zeros after the dollar sign seems to confuse them. When it goes south, they just yell for more TAXES to cover their ineptness.

I most definitely didn't have my head screwed on straight this morning. Usually my math is a little better than that.

I guess I was too focused on what would happen if economic disparity was eliminated overnight.

a reply to: Flatfish

Good sense of humor AND a good heart!

originally posted by: Flatfish

originally posted by: greencmp

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.

I made a mistake and that mistake is all mine.

Is there anything that you don't blame Obama for or is he the reason your ass needs wiping after you go to the bathroom too?

No worries, I feel a little bad for making fun.

It certainly wasn't personal but, you gotta admit, my timing was excellent.

a reply to: Flatfish

Others have pointed it out but you wouldn't get that much. It's 858 million after taxes and less if you take the lump sum. For arguments sake though, lets say you got the full 1.5 billion. 1.5 billion is only 1500 million. So if you were to give each person a million dollars you could only provide that money to 1500 people.

originally posted by: Aazadan
a reply to: Flatfish

Others have pointed it out but you wouldn't get that much. It's 858 million after taxes and less if you take the lump sum. For arguments sake though, lets say you got the full 1.5 billion. 1.5 billion is only 1500 million. So if you were to give each person a million dollars you could only provide that money to 1500 people.

Yeah, that's been pointed out to me in this thread as well.

Bad math on my part, sorry.

Just imagine the cost of things if everyone in the US got 1 million dollars.

A gallon of milk would be 100,000 dollars.

Forget chocolate milk. Even Trump wouldn't be able to buy it.

a reply to: queenofswords

I seriously doubt it would take even close to a few years. No, unless you have prosperity consciousness no amount will do it for you.

Even though the math is wrong, your heart is in the right place. However, as another posted noted, a lot of the people that received the money would be dead broke within a year. They'd blow the money on hookers, drugs, bad investments, etc. Face it, some people just make bad decisions and their lives reflect this fact. Yes, it is heartless, but the world is cruel.

I've know several people who have received fairly substantial financial windfalls (life insurance payouts - like $100k) and they completely pissed away the money and are now broke again.

If I won, I'd definitely make some substantial charitable contributions to causes that are important to me.

I don't know what they use for the discount rate for NPV calculation of the $1.5 billion, but I assume the cash payout is $900 million. Uncle Sam will probably want at least $400 million of that... so you are left with $500 million. If you can earn 5-7% a year return you'd make about $2.5 million a year in income. Of course, you'd then be paying capital gains on that income... but you'd still live pretty large.

If I had the $500 million, I'd probably give away about $100 million.

masqua!!!!!! Lets do a SS contest with this theme....

Each person in the country of origin, be it here in America or elsewhere in the free world, receives 1 million dollars or the equivalent in their currency all at once...

Let the Games begin...

Buwhaaaaaaa

a reply to: Flatfish

I'd invest into education to be honest. Mainly the trades, not enough aid and support for apprenticeship programs, knowing what I am personally going through now with the programs that are set in place, it needs a whole new overhaul.

But, I'd also just invest and live off my investments. Travel, etc.

Here is billionaire, Mark Cuban's advice should you win that Powerball billion+.

thescoopblog.dallasnews.com...

Hire a tax attorney first.

Don’t take the lump sum. You don’t want to blow it all in one spot.

If you weren’t happy yesterday you won’t be happy tomorrow. It’s money. It’s not happiness.

If you were happy yesterday, you are going to be a lot happier tomorrow. It’s money. Life gets easier when you don’t have to worry about the bills.

Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs 1m dollars for anything. No one needs 100k for anything. Anyone who asks is not your friend.

You don’t become a smart investor when you win the lottery. Don’t make investments. You can put it in the bank and live comfortably. Forever. You will sleep a lot better knowing you won’t lose money.

But don’t take this as a suggestion from Cuban that you should spend a lot of money on lottery tickets. The odds (one in 292.2 million) will continue to be remote no matter how many tickets you buy.

“It’s OK to spend 2 dollars for entertainment value,” he said via email. “If you have 10 dollars go to a Mavs game.”

I just wonder what kind of computing power the PowerBall operations uses or needs to have....
so that a list of numbers can be made to absolutely eliminate anyone from being an actual winner
by holding a printed ticket

I know that when my horse racing $10. TRIFECTA ticket with a:
3 to win/
5 to place/
8 to show/

came in exactly in that order... the Turf Paradise annual opening day of races of 1995... took some 15 minutes to seemingly splice together different finishes from the stocked/vintage race finishes from all other taped races to offer up a manipulated finish with #8 the Show horse being demoted to 4th place because of some alleged infraction against horse #7 who was one-of-the-favorites on the handicappers sheet (a 2-1 co favorite)


I suspect I lost a $100,000.00 payout on that ticket (3-5-8 were all 12-1 to 15-1 or least likely Longshots)


I also suspect that the drawing itself is pre-ordained.... look at all the attention this $1.5 Billion drawing is generating all over the world...

it will or should be next to impossible for there not to be a winner with only a small cache of red 'power balls' available to draw from...~ the 5 white balls might escape an exact match with 69 of them to opt for


I toss in the red challenge flag for intentional, covert, 'manipulation'

originally posted by: Flatfish
Yeah, that's been pointed out to me in this thread as well.

Bad math on my part, sorry.

In the spirit of that plan, I'll let you in on something you may not be aware of. Benjamin Franklin was inspired by a book as to what to do with his fortune, what he ultimately decided was that he would give parts of it to various cities as funds. The cities would manage those funds and then every 50 or 100 years or so half of the funds would go to a large public works project and the other half would be managed again. Philadelphia used theirs to create loans for first time home buyers and small businesses.

If you wanted to be a philanthropist with the money, that's where I would look. Set up funds like that with a few million each in various cities around the US, and let the money grow over time to eventually provide something nice, while also being productive as it grows.

If I ever get a sizable amount of money in my life, I plan on doing something similar.

Fun math fact:
They say that the total amount of "money" in the world is about 75 trillion.
The total population of the world is about 7 billion.

If we divided up all of the money equally between all humans on this planet each person would get around $10,715.00 each.

How poor do you feel now?