24-year-old Manuel Franco won last month’s $768.4 million Powerball drawing. Franco took the lump sum cash amount of $477 million then started paying federal and state taxes of a combined estimate of $217 million on his earnings. That leaves the big winner with a little more than a third of what the winning ticket was purportedly worth. More
Still, a pretty good payday for a man with about $1,000 in his savings account. Here
And the tax man will keep whittling away at as much of that as possible every year. On the bright side, if he has common sense, he won’t vote Democrat.
Oh well, it’s only money.
$217 million…..WHOOOO HOOOOOOOOO
and he’s only 24 years old!!!!!!
He is going to meet some really hot chicks and he has the libido to deal with it. Lucky devil.
I’m kinda glad it was a young guy, I hope he does well with it instead of just losing it like so many lottery winners seem to do.
Heads they win, Tails you lose.
Anonymous APRIL 25, 2019 AT 11:05 AM
Iām kinda glad it was a young guy, I hope he does well with it instead of just losing it like so many lottery winners seem to do.
Without researching it I wonder what the payout spread over twenty or thirty or whatever time span they offer? With those numbers I’m thinking he could have still been able to afford Waffle House whenever he wanted and collected a shit pot full more. For me taking the lump sum suggests he will be broke in ten years or so…
Also wonder if the annuity could truly be guaranteed as what he’ll probably do won’t…
Place that sold the ticket only a few miles from my son’s new house…
“Legal” theft.
https://binged.it/2GBk9rn
He needs to lose his phone and disappear for six months, find a quiet beach somewhere…aside from government officials sending him “invoices”, the “please help me” people will show up at his door and endlessly ask him for money.
Interesting how winnings are whittled away at to support Federal and Local governments who did nothing to warrant such heavy taxation…at some point it just looks like theft.
…I know of a guy who won a $4 million lottery, went out and bought the biggest, fastest muscle car that existed right out of the box, wrecked it almost immediately, lost his leg, and then pissed away the rest of his money in a house that he was left in alone after everyone left him when his money ran out, with only a back door neighbor he hated with a passion for company. They always found a way to fight (hiring lawyers and paying medical bills was one way he lost his money), and I picked him up one time after they had done SUCH an excellent job of beating each other up that the police were called, and they were given an option of “jail or hospital”, so you can guess which they both chose.
Side note; one of the things he beat his neighbor up with was his artificial leg, so the police took it as evidence, so no leg to stand on – literally – at the hospital.
We put them in separate ambulances for obvious reasons, but our potato-headed squad captain decided to route them both to the SAME HOSPITAL for some reason. The guy with two legs somehow found out where the guy with one leg was, and made the trip, forcing us to come out of the squad room where we were writing this mess up and sit on the combatants until the security guard got done taking a shit or masturbating or whatever, and had time to actually do, like, his job.
…anyway, the point is that money doesn’t make you, and not having money doesn’t break you. If he’s a young man who doesn’t have financial sense, he damn sure isn’t going to find anyone to tell him not to spend all his money NOW. You can blow a quarter-billion on a single HOUSE in some places, and then have nothing when the tax man takes the house since you don’t have money to pay the taxes.
…I had heard it said once that you COULD do the socialist wet dream and take all the money from the people who know how to make it and give it to all the people who do NOT…and within a year, it will be right back where it started.
And I’ve never seen any reason to doubt that would happen.
…but somewhere, there’s a very rich Government apparatchik who found a way to give the stolen half billion to his friends and family, because you can be DAMN sure that no actual school kids or whatever benefited from the legalized theft, no matter WHAT lies the lottery “officials” tell you…
He’ll probably spend 90% of it on hookers and blow.
The rest he’ll just waste.
š
More likely it will turn out more like what Supernightshade described.
The ‘big winner’ in any of these lottery payouts is The State.
I love how he wants to help the world–he already has by having 60% of his winnings taken away from him.
He can always donate it to a Dem candidate.
They have ways, if ya know what I mean.
Remember when Ill. was so broke they couldn’t pay lottery winners?
Did they ever?
@Anymouse April 25, 2019 at 11:24 am
> Without researching it I wonder what the payout spread over twenty or thirty or whatever time span they offer?
He’s young. He still has hope for the future. People with hope for the future don’t expect the government to be around to keep printing money for thirty or twenty years.
One “plus” of living in South Cackylacky is you can collect your lottery winnings AND choose to remain anonymous.
‘Lottery’ – a tax on people who can’t do math ~ Weber’s Dictionary
The Lottery: The financial equivalent of a one-legged basset hound catching an 80 yard Hail Mary pass from Stephen Hawking and running it past the 1985 Chicago Bears defense for a touchdown.
He’ll be broke in 5 years. Bloodsucking family and friends, wrecked sports cars, sunk boats, lavish parties. Gone. That is his future.
Hey……….somebody has to pay taxes to support all the somali “refugees” that the liberal church groups sponsored in the last ten years!!
Some people find out that the struggle in life is actually good for you. There are many lessons to learn along the way and you are better for it.
It’s like supercharging an undersized vehicle – you’re going to wreck it right off the bat if it doesn’t blow up on you first.
Putting a 1000cc engine of money on his minibike of financial ability probably won’t work out too well.
I think it’s wasteful of him. I would have taken the long payout and set my kin up for the future after I’m gone in a few years.
That said, wonder if I can convince him we’re related and guilt him out of a couple hundred thousand.