[BrentCrude]

Does anyone here watch that tv show on E network or A&E called Curse of the lottery winners?If so,don't you just want to jump through the screen and choke the people in charge of the state lotteries and the people who win the lotteries for being financially retarded!!!

For the most part,the people who play the lottery are the people who can least afford to lose money and the states know it.Even the tv commercials for the lottery are so dumbed down that it's like they are directed at 10 year olds.Then the states get away with the con game of calling it a 300 million dollar jackpot when in reality you would win half that in cash if you don't take the annuity option and then you get a little more than half of that after paying all the taxes.Then after that,you pay taxes again on anything you consume.Then you have to figure all the money in juice that the state got that was taken out.

Try being a private sector finance company that advertises rate of returns like the state advertises lottery winning prizes and you will be out of business and in jail in a week.

The only time I play Powerball is when the jackpot mounts up after it rolls over about 15 drawings without a winner.That way,I feel if I win,all the idiots paid for the taxes,juice and future taxes etc.

Then you get most of these Jerry Springer people that win the lottery going hog wild buying speed boats,10 Harley's,6 Hemy pickups,3 BMW's and any other death trap they can get their hands on as well as buying 2 Mc Mansions and sending their lame brain daughters to some college for fluff degrees in psychology,womens studies,communications or diversity studies for 30K a year tuition.

Most of the people on the show get about 6 to 30 million on average pure cash.In today's society where you can lose a 10 million dollar lawsuit for looking at someone the wrong way that's not allot of money.Then you have to figure that a dollar is now worth about 30 cents from when you were a kid.You are not super rich and you are vulnerable to pitfalls beyond comprehension.

Some of the idiots even bought bars with their winnings.Is there any business venture that's worse to get into than buying a bar if you are already rich?It's like being up by 7 points with a 1st down at your own 10 yard line with 50 seconds left in the super bowl with the opponent having no times outs left and throwing passes up the middle.

Then you have the people who win 40 million pure cash and they say that they are not going to change their lives and still go to work at the packing plant as a meat cutter ruining their health and living in a climate where it's 30 below zero in the winter.The biggest poweball jackpot in history was won by a group of meat packers at a Nebraska meat processing plant.They all got 15 million pure cash after taxes and some kept working.Now as an owner,would you want some formerly poor brainstem of an idiot using bandsaws while he or she is daydreaming about buying mud buggies and 400 inch plasma tv's?Hell no!!!!He's going to cut the hand off some illegal immigrant and you will lose a 30 million dollar liability suit.

Then you had those same people that won 15 million pure cash giving money away like they were Al Capone to any scam artist charity that begged them for it.You aren't rich and can't afford giving money away like that in today's rinky dink economy!!!!!!!!You aren't Warren Buffet who lives down the street from you in Omaha that drives an old Buick and lives in a 1950's 2 story plain old house and who has a few hundred billion bucks.When you win 15 million dollars in the lottery,you should have won 45 million due to taxes etc.and that 30 million bucks you won and didn't receive is your charitable donation.

[Iwinyourmoney]

Good post. Yes it is BS about the lottery. I ALWAYS tell people when they say "Im going to win the 80mil", I tell them "you mean the 30 mil" and they dont understand even after explained

[louisvillekid]

nice rant BrentCrude. I'm still going to play it though, just Powerball and the main State Lotto for me. I don't play pick 3 or 4 or 3 line lotto or all the other small games, well i should say, not often. i spend 8 bucks a week. $4 on Wed. and $4 on Sat., $2 on Powerball and $2 on Win-4-life(our state lotto). i figure thats a small price to maybe hit it big and help me live comfortable. just think, you can win a 2 million and after taxes have maybe 1 million, at just 5% interest, you will make $50,000 a year, then after taxes on that have around $35,000, i think the national average on income is around $38,000, so you could basically have a nice steady 2nd income. now you could easily squeeze more bang for your buck out of 1 million with a financial planner, but i was just giving a rough estimate.
About the show, i think i saw the same one maybe, i saw one on TLC. It had this hillbilly from the coal mine parts of the state who won over 100 million, he moved to a gated home in Florida, bought exotic cars, all kinds of mid-evil artifacts, swords and stuff, he had 2 suits of armor for Knights that he payed some ridiculous amount for, had a $80,000 piano that originally belonged to someone famous, i think. He was just blowing it away. I heard he's broke already, it hasn't even been 10 years since he won.

[katstale]

Idiocracy is upon us!!

[louisvillekid]

Originally Posted by katstale

Idiocracy is upon us!!

from who?

[Doug]

I can't see blowing 15M.

If you got no interest, you could spend $1,000 a day for 40+ years.

[MoneySportsGuy]

Doug,

That is just another problem with some of these people that win these lotteries They don't even have enough money management with an established bank account to even begin to put their money in it and let it earn interest