– The Bottom Line –
"Powerball Lotto Jackpot = $338 million dollars! That sure is a lot of money, even these days. Congratulations to Mr. Quezada. We all wish we were him, but I have a very different reason.
So what's wrong with this picture? Here's what's wrong:
A lump sum payout would be $221 million, or about $152 million after taxes. It’s the fourth-largest jackpot in Powerball history.
Let's do the math: 338 – 152 = 186. The 'prize' was $338 million but this guy's 'only' getting $152 million. We're talking about $186 million dollars here folks. Where is it? "Don't bother to explain, it doesn't matter." That's what a judge would tell any one of us before he sentenced us to jail for 'false advertising' if we ran the same 'misinformation, aka lies, ( even with the small print) that the government is doing.
Here's the deal on he lotto. The government collects X dollars. Out of the total money that it collects it keeps HALF right off the top and then advertises the other HALF as the prize for the 'winner.' So far so good; 1/2 + 1/2 = money collected = total money.
Now when it comes time to pay the 'winner' his HALF, something very 'calculating' happens. The government, already keeping the first HALF for themselves, decides that it will pay you 'your' HALF but not all at once, even though all of 'your' money has been collected and sits in the bank – adding even more money to the governments share. The government now invokes it's 'policy' that it will pay you your HALF but over a 20 year span. Now of course there is only one 'Governing Body' that can guarantee that we will live for 20 years to collect OUR money but, as with so many of our misdirected 'endeavors', He has nothing to do with this.
So the government, in all of it's 'fairness' gives the winner the choice of being paid over 20 years or taking a' lump sum' payment. Now most sane people will take the 'lump sum' payment, knowing fully well not only that they may not be around for 20 years but also that he has to rely on the 'word' of the government and that it will not in fact spend 'his' money. (Does the Social Security fund ring a bell?)
So the 'winner' takes the lump sum payment which in this case is $221 million dollars. But wait! It's not over yet. The government, having already pocketed (338 + (338 – 221) 117) = $455 million dollars from this sham is now going to take more of 'your' money. It will now take for itself another 'cut' of 'your' winnings by hitting you with an 'income tax' (As though keeping the $117 million dollars extra for themselves wasn't enough tax to pay.) The tax here works out to be (221-152) about $69 million dollars!
Let's sum it up. Total Revenues for this Powerball = $676 million dollars. The 'winner gets $152 million dollars and the government gets $524 million dollars.
The bottom line here is not who the real winner is, we all knew that much all along. But also that our schools today even with all this lotto money flooding in, are more broke than ever! Because no matter how much the lawyer leaders in government take, they will waste it and take more and more. This is the history.
So two things need to be done. First, and I pray that I will be in the position to do this, the lotto winner needs to sue the government for 'false advertising' and racketeering in a scheme to perpetuate a fraud on the public. And finally and most importantly to correct most of the failures of government; Americans need to rid itself of the inept and narcissistic 'leadership' of it's privileged ruling class. and elect real men to lead the country.
This Hard-Working Family Man Just Won $338 Million
Posted on Mar. 25, 2013 by Jason Howerton
PASSAIC, N.J. (AP) — The winner of a $338 million Powerball jackpot told several media outlets Monday that his first priority will be helping his family. …
The numbers drawn Saturday were 17, 29, 31, 52, 53 and Powerball 31. A lump sum payout would be $221 million, or about $152 million after taxes. It’s the fourth-largest jackpot in Powerball history.The numbers drawn Saturday were 17, 29, 31, 52, 53 and Powerball 31. A lump sum payout would be $221 million, or about $152 million after taxes. It’s the fourth-largest jackpot in Powerball history.
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