Mikee Posted March 30, 2012 Share Posted March 30, 2012 This article caught me by surprise."The enormous sum of $476 million will just be fuel taking you deeper into a black hole of despair if you harbor questions about whether you’re really worth anything at all, at your core. -- And I mean worth a father’s time spent unselfishly with you as a child. I mean, worth a friend’s devoted attention. I mean, worth a husband or wife’s real devotion. I mean, worth the respect of honest critics. But, first and foremost, I mean worth investing in yourself by doing the work you truly love in this life, by surrounding yourself with people who truly care about you, by shaking off the self-defeating habits that roil your mind or body and are rooted in self-hatred or self-doubt." Link to comment Share on other sites More sharing options...
9thdoctor Posted March 30, 2012 Share Posted March 30, 2012 His comments called this to mind: If you won the lottery and came to my office Saturday morning, I would tell you our work together to get you to that giant pot at the end of the rainbow—that treasure called true self-esteem—had just gotten about 476 million times tougher. Because money gained through anything other than labor, creativity, courage and commitment is far more likely than not to obscure the path toward real richness. I’m not kidding myself here. I wouldn’t turn down the jackpot. I would probably get fooled by it, too. Link to comment Share on other sites More sharing options...
Brant Gaede Posted March 30, 2012 Share Posted March 30, 2012 His comments called this to mind: If you won the lottery and came to my office Saturday morning, I would tell you our work together to get you to that giant pot at the end of the rainbow—that treasure called true self-esteem—had just gotten about 476 million times tougher. Because money gained through anything other than labor, creativity, courage and commitment is far more likely than not to obscure the path toward real richness. I’m not kidding myself here. I wouldn’t turn down the jackpot. I would probably get fooled by it, too.You've already been fooled.--Brant Link to comment Share on other sites More sharing options...
9thdoctor Posted March 30, 2012 Share Posted March 30, 2012 You've already been fooled.Moi? No, I was quoting from the article, which is fairly Branden-esque BTW. Link to comment Share on other sites More sharing options...
Brant Gaede Posted March 30, 2012 Share Posted March 30, 2012 You've already been fooled.Moi? No, I was quoting from the article, which is fairly Branden-esque BTW.Ah, you fooled me--not using quotation marks.--Brantdon't get fooled again! Link to comment Share on other sites More sharing options...
Peter Posted March 30, 2012 Share Posted March 30, 2012 I bought five. Sixty percent of the cash payout is over two hundred million dollars.Peter Link to comment Share on other sites More sharing options...
Selene Posted March 30, 2012 Share Posted March 30, 2012 I bought five. Sixty percent of the cash payout is over two hundred million dollars.Peter640, 000, 000x .60____________384,000,000 Link to comment Share on other sites More sharing options...
Peter Posted March 30, 2012 Share Posted March 30, 2012 Adam the cash payout is less than one half, with powerball but higher with Mega Millions. It is 462 million times sixty percent take home after taxes is 277 million dollars. I am not sure when ticket sales close because it is sold on the West Coast too. Peter Taylor Link to comment Share on other sites More sharing options...
Selene Posted March 31, 2012 Share Posted March 31, 2012 Adam the cash payout is less than one half, with powerball but higher with Mega Millions. It is 462 million times sixty percent take home after taxes is 277 million dollars. I am not sure when ticket sales close because it is sold on the West Coast too. Peter Taylor Annuity Cash Mega Millions Jackpot for Fri, Mar 30, 2012 $640,000,000 $462,000,000 Gross Prize 26 annual payments of $24,615,385 Lump-sum cash: $462,000,000 - 25% Federal Tax - $6,153,846 - $115,500,000 Subtotal $18,461,539 $346,500,000 - State Tax:================================================= Maryland: 8.5% State Tax for In-State Residents - $2,092,308 - $39,270,000 Your net per year: $16,369,231 Your net payout: $307,230,000 After 26 payments: $425,600,006 ============================================================== New Mexico: 6% State Tax - $1,476,923 - $27,720,000 Your net per year: $16,984,616 Your net payout: $318,780,000 After 26 payments: $441,600,016 ================================================= Rest of the relevant states: http://www.usamega.com/mega-millions-jackpot.asp Link to comment Share on other sites More sharing options...
Brant Gaede Posted March 31, 2012 Share Posted March 31, 2012 It's all fraud, of course. No one wins 640 million, just a disbursement over time adding up to that as if there were no price to time (interest). If I ever played--I won't--and won it I'd set up a foundation as the lump-sum winner and there would be no deductions for taxes. One of the purposes of the foundation would be to publicize the true economics of the state-run lotteries. Just to screw over the whole crappy mess.--Brant Link to comment Share on other sites More sharing options...
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