Posted November 29, 201212 yr The US has been in a recession for years. And they owe China billions of dollars. So why on earth would they offer the chance to win 550 million dollars to some random person when they could use it for something useful?
November 29, 201212 yr Err, would you give little bit explaining what you are talking about right now? Like what and when has US offered to lotto? Some link to news or if you could give explanation.
November 29, 201212 yr Why do you always have to point out the USA's flaws? Why do you always have to talk about the USA when you DON'T LIVE IN THE USA!
November 29, 201212 yr Presently, many US lotteries support public education systems. I don't know much about the lotteries but it's gambling. Your technically winning someone elses money since the amount of money piles up weeks after weeks when thousands of people play and there is no winners due to the very low probability of winning which makes the prize money so high. I think the US Goverment runs the lotteries but the money is just a circulation between thousands of players that later falls into the hands of a few people when they win. Sometimes I still wonder why I still live in the US...
November 29, 201212 yr They make WAY more money off of tickets than they will ever give away. Then they'll charge "fees" on the money they give away until the person is left with a plan of like $2000 a year for like 1000 years Sometimes I still wonder why I still live in the US... I feel this every day
November 29, 201212 yr Yea! What they said ^^ and erm because the LOTTO grosses more and more when like no one wins over time I think o.o
November 29, 201212 yr They make WAY more money off of tickets than they will ever give away. Then they'll charge "fees" on the money they give away until the person is left with a plan of like $2000 a year for like 1000 years There's also income taxes. Those take a lot out of a single-time fortune.
November 29, 201212 yr Here in Europe if someone wins the Euromillions, they gain around 24 millions euros, I think. Most of the times it's way more than 24 millions.
November 29, 201212 yr The US has been in a recession for years. And they owe China billions of dollars. So why on earth would they offer that much money in lotto? we're providing the money for it, and a big part goes to the school systems, so its not super all that bad.
November 29, 201212 yr Author Why do you always have to point out the USA's flaws? Why do you always have to talk about the USA when you DON'T LIVE IN THE USA! You've taken this topic the wrong way. And I don't say sh*t about the U.S any more. My point of this is that the they're giving 550 million dollars to some random winner. That is a lot of money especially when your country could use it for better things.
November 29, 201212 yr You've taken this topic the wrong way. And I don't say sh*t about the U.S any more. My point of this is that the they're giving 550 million dollars to some random winner. That is a lot of money especially when your country could use it for better things.Exactly we should use that money for lowering our debt to other countries, so everyone can be better off
November 29, 201212 yr I don't get why people forget that China owes USA as well. I think it was around 1 trillion dollars? Yeah, TONS of countries owe America when we help them out. I don't get why people say "USA OWES CHINA" when USA possibly owes more countries than that, and other countries owe America also. The main reason we are in a recession is because we are in debt to ourself, not bc we're in debt to China.
November 29, 201212 yr Do they tax lotto winnings? They do. This is from an article I read about the Powerball played last night at 550 million dollars as the prize pool. "The jackpot swelled to $587.5 million, according to Lottery official Sue Dooley. The two winners will split the jackpot each getting $293.75 million. The cash payout is $192.5 million each." So they only get $192.5 million each after taxes. So if we do the math, that means there was $385 million to start with and then to split for two people since there were two winners. That's about $202.5 million US dollars in taxation. But still, we are in a recession and the US debt continues to grow. I mean you have to account that how often are these winners for lotteries. It's once in a while. Plus do remember, these are other people's money. I don't think the US Goverment puts in any of their own money. Edited November 29, 201212 yr by Noobles
November 29, 201212 yr You've taken this topic the wrong way. And I don't say sh*t about the U.S any more. My point of this is that the they're giving 550 million dollars to some random winner. That is a lot of money especially when your country could use it for better things.550 million dollars is a penny to the trilllions of dollars our debt has grown to let's be real here that money does not make a wink of difference in the grand scheme of things -_-Quite frankly you're once again bring attention to in what your mind is a flaw in the U.S when in fact 4Everbee has a point, it has no impact on you because at the end of the day you don't live here. Edited November 29, 201212 yr by devereauxr
November 29, 201212 yr While reading so much about Lotto here... I should use some money for it Why do you always have to point out the USA's flaws? Why do you always have to talk about the USA when you DON'T LIVE IN THE USA! You can do the same thing. No one is stopping you, right? Find a flaw, talk about it and tada.
November 29, 201212 yr You've taken this topic the wrong way. And I don't say sh*t about the U.S any more. My point of this is that the they're giving 550 million dollars to some random winner. That is a lot of money especially when your country could use it for better things. The "random winner" could be multiple winners and the value of the dollar can be less and less the more people that win the lotto. Also you don't take into consideration the tax, and any sort of fees The lotto has only gotten that big because there hasn't been a winner, so the cash prize has accumulated also I don't get why people forget that China owes USA as well. I think it was around 1 trillion dollars? Yeah, TONS of countries owe America when we help them out. I don't get why people say "USA OWES CHINA" when USA possibly owes more countries than that, and other countries owe America also. The main reason we are in a recession is because we are in debt to ourself, not bc we're in debt to China.
November 29, 201212 yr The lotteries generate so much money from ticket sales that for every million they give away, they gain 3 or 4 million. The number is probably even larger for the bigger lotteries. And often times, they don't even give away the jackpot because nobody purchased the winning ticket.
November 29, 201212 yr The lotteries generate so much money from ticket sales that for every million they give away, they gain 3 or 4 million. The number is probably even larger for the bigger lotteries. And often times, they don't even give away the jackpot because nobody purchased the winning ticket. This is a huge factor The "random winner" could be multiple winners and the value of the dollar can be less and less the more people that win the lotto. Also you don't take into consideration the tax, and any sort of fees The lotto has only gotten that big because there hasn't been a winner, so the cash prize has accumulated also And this I don't get why people forget that China owes USA as well. I think it was around 1 trillion dollars? Yeah, TONS of countries owe America when we help them out. I don't get why people say "USA OWES CHINA" when USA possibly owes more countries than that, and other countries owe America also. The main reason we are in a recession is because we are in debt to ourself, not bc we're in debt to China. and this too x1000 Edited November 29, 201212 yr by Flaming Lea
November 29, 201212 yr You've taken this topic the wrong way. And I don't say sh*t about the U.S any more. My point of this is that the they're giving 550 million dollars to some random winner. That is a lot of money especially when your country could use it for better things. The government takes a huge portion of that for taxes. Plus, that money doesn't come from the government, so they're not just giving that money away. If they could keep that money, trust me, they would. But it doesn't belong to them. It belongs to the company hosting the lottery. It has nothing to do with the government.
December 10, 201212 yr You see, the cool thing about the lottery, is that it doesn't lose money. Ever. The millions of people who buy those tickets give much more money than they lose in one of the prizes. Also, the lottery has to pay taxes with the money it gets. So it generates more money for the government.
The US has been in a recession for years. And they owe China billions of dollars. So why on earth would they offer the chance to win 550 million dollars to some random person when they could use it for something useful?