Cool, the search function does actually work
, now hopefully I won't get in trouble for posting in a pretty much dead thread.
I actually wanted to gripe about the taxes on lotteries.
In my state we have the state lotto where the minimum is 1 million. Ignore the stats and that its a losers game for this scenario.
If you win you have 2 options the annuity (25 payments of $40,000.00) or the lump sum.
With the lump sum you get half of that, so in this case $500,000.00. Surprisingly in my liberal state of Washington, there isn't any state taxes on
the winnings (although there is a sales tax so hopefully that's the logic their).
With each of these options, you are taxed at 25% on the federal level.
Now, the fact that the lump sum after taxes equates to my pretaxed income I currently get (assuming full 40 hours and no over time, its actually
within dollars) I would love to win it.
However its a principle, they say you win the 1 million, but there isn't even an asterisk stating its "before taxes" or any kind of legalize as far
as I can find.
I do play I have 4 that I play with any regularity. The state lotto, hit5, mega millions and powerball.
I do so for various reasons, and the main one is hope. The way I see life is not to work until you die, which is what I am doing now, but to live. If
I won just the minimum jackpot on any of those (with the exception of hit5, I would have to be the only winner on the minimum and several drawings
later) I would be able to pay off my house.
I of course would like to get a larger chunk as I want to become as independent as possible.
Try to find land with water rights to a river that is year round for some micro hydro. Do some algae for some bio diesel and of course grow my own
food. It costs some considerable amount to start up, but I could definitely do it.
Especially if I can control the temperature and lighting in a greenhouse
we have full spectrum lighting (although it really gives off something
like 94% of the light spectrum).
Don't worry, I have my fantasy all planned out
Now if I could win and not worry about a SHTF situation, Id be all good