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1/8/2013 1:17:30 PM
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$1 million lottery winner fatally poisoned by cyanide
[url=http://usnews.nbcnews.com/_news/2013/01/08/16397624-1-million-lottery-winner-fatally-poisoned-by-cyanide?lite]Article[/url]
Don't ever win the lottery people, it'll make you a bigger target than Usama Bin Laden.
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You get 575000 dollars taken off in tax?
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I've heard lots of stories where something terrible happens to the lottery winners. If I ever win, I'm probably going to build myself a bunker where I spend rest of my life, browsing bungie.net
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In some states you can stay anonymous but in other states you have to have a press conference. It's really stupid. If I were to win $1 million I wouldn't announce to anyone but my parents that I won it.
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Such is expected when so much money is given to a random person. There is an incredible amount of capability within the actions made by the money. I would give it to charities and scientific research.
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$50 his wife did it.
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It's kind of sad that an honest hard-working man wasn't consumed by greed when he won too. He was going to invest that money in his business and donate it? Whoever poisoned him is really sick in the head.
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[quote][b]Posted by:[/b] Mastergee You get 575000 dollars taken off in tax?[/quote] You don't actually win a million dollars. You win an annunity that pays out a million dollars over a period of time. When you take tax out, the true present value is that 425,000$.
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[quote][b]Posted by:[/b] Scottus4 [quote][b]Posted by:[/b] Mastergee You get 575000 dollars taken off in tax?[/quote] You don't actually win a million dollars. You win an annunity that pays out a million dollars over a period of time. When you take tax out, the true present value is that 425,000$. [/quote] Not at all. Both have a present value of $1 million. You can either take $1 million pre-tax income now, or $1 million pre-tax income spread over a set number of years. The reason the very few people take the annuity option is they are taxed less on it up front because they aren't placed in a higher tax bracket for all that income at once. $575,000 in taxes comes from bumping into the top tax bracket (35%), it being counted as ordinary income so you have to pay FICO taxes like social security tax/medicare tax (6.2% for Social Security, 2.9% for Medicare), State taxes (Illinois is 6.25%), and local income taxes. The reason people pick the lump sum over the annuity (in addition to the "get it now" mentality) is that the annuity is not adjusted for inflation. Twenty years from now, your structured annuity payment will be worth much less in buying power terms than it is now. [Edited on 01.08.2013 5:34 AM PST]
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[quote][b]Posted by:[/b] Scottus4 [quote][b]Posted by:[/b] Mastergee You get 575000 dollars taken off in tax?[/quote] You don't actually win a million dollars. You win an annunity that pays out a million dollars over a period of time. When you take tax out, the true present value is that 425,000$. [/quote]You can usually choose between that and a lump sum, though. The story indicates that he chose the lump sum payout, and when you do that, they do usually pay you less even [i]before[/i] taxes.
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This is why you don't tell anyone if you win.
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[quote][b]Posted by:[/b] Opt1mu5Pr1m3 15 It's kind of sad that an honest hard-working man wasn't consumed by greed when he won too. He was going to invest that money in his business and donate it? Whoever poisoned him is really sick in the head.[/quote]
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[quote][b]Posted by:[/b] A Good Troll [quote][b]Posted by:[/b] Scottus4 [quote][b]Posted by:[/b] Mastergee You get 575000 dollars taken off in tax?[/quote] You don't actually win a million dollars. You win an annunity that pays out a million dollars over a period of time. When you take tax out, the true present value is that 425,000$. [/quote] Not at all. Both have a present value of $1 million. You can either take $1 million pre-tax income now, or $1 million pre-tax income spread over a set number of years. The reason the very few people take the annuity option is they are taxed less on it up front because they aren't placed in a higher tax bracket for all that income at once. $575,000 in taxes comes from bumping into the top tax bracket (35%), it being counted as ordinary income so you have to pay FICO taxes like social security tax/medicare tax (6.2% for Social Security, 2.9% for Medicare), State taxes (Illinois is 6.25%), and local income taxes. The reason people pick the lump sum over the annuity (in addition to the "get it now" mentality) is that the annuity is not adjusted for inflation. Twenty years from now, your structured annuity payment will be worth much less in buying power terms than it is now.[/quote] It varies between lotteries. Some are actually the stated prize that can be taken as an annuity, others award an annuity of that pays out the listed amount over a period that can be taken as a lump sum. Powerball is the later, which is what comes to mind when I think "lottery". [Edited on 01.08.2013 5:53 AM PST]
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Jealously at its best.
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I wouldn't tell anyone if I won.
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I have to wonder what goes through people's minds when they win the EuroMillions lottery and then announce it. Sometimes the jackpot payout is £100m+ tax-free. Not to mention in the UK every single ticket is entered into a raffle for a guaranteed £1m winner per draw (at the cost of a 33% increase in ticket prices in 2009.)
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well everyone is not so damn lucky but everyone has a wish to win a lottery
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Id go on stage at the press conference looking like Bane....wearing a hat....
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[quote][b]Posted by:[/b] Mysten I have to wonder what goes through people's minds when they win the EuroMillions lottery and then announce it. Sometimes the jackpot payout is £100m+ tax-free. Not to mention in the UK every single ticket is entered into a raffle for a guaranteed £1m winner per draw (at the cost of a 33% increase in ticket prices in 2009.)[/quote]If it's like it is here in the US, they may not have a choice whether or not to announce it. [url=http://usatoday30.usatoday.com/news/nation/story/2012-04-22/lottery-winners-anonymous-mega-millions/54441676/1]There are only 6 states where winners have the option to stay anonymous[/url]. Lottery winners' names are mostly a matter of public record.
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[quote][b]Posted by:[/b] QuirkyNate In some states you can stay anonymous but in other states you have to have a press conference. It's really stupid. If I were to win $1 million I wouldn't announce to anyone but my parents that I won it.[/quote]
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[quote][b]Posted by:[/b] OP is a fa99ot [/quote] -blam!- christ seriously? He's going to get his account back anyway theres no reason to flip out over it.
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[quote][b]Posted by:[/b] Opt1mu5Pr1m3 15 [quote][b]Posted by:[/b] OP is a fa99ot [/quote] -blam!- christ seriously? He's going to get his account back anyway theres no reason to flip out over it.[/quote]-blam!- christ seriously? You needed to reply to him?
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[quote][b]Posted by:[/b] Make117 I've heard lots of stories where something terrible happens to the lottery winners. If I ever win, I'm probably going to build myself a bunker where I spend rest of my life, browsing bungie.net[/quote] Isn't it possible to ask to keep your identity a secret?
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[quote][b]Posted by:[/b] A Good Troll $50 his wife did it.[/quote]yup.
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[quote][b]Posted by:[/b] MegaMuffin16 This is why you don't tell anyone if you win.[/quote]
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[quote][b]Posted by:[/b] Mastergee You get 575000 dollars taken off in tax?[/quote] That is hilarious, I am guessing there are laws to stop 50% being taken of in tax.
