Wow Winning Lottery in The US sucks
@CaptAlbertWhisker (32760)
Calgary, Alberta
April 29, 2018 11:09pm CST
I already know winning a game show in the US sucks because of Taxes that you have to pay twice. I remember talking to a former winner of the Reality competition Survivor. She told me she thought she can use the money she won to retire but she didn't because after the Taxes, her 1 million dollar cash price is now 400 thousand and she have to donate some money to charity just to decrease the taxes.
Remember when Oprah gave away free cars for her audience?
Those people are forced by the US government to pay taxes for that car they received for free.
The video below shows a woman explaining how much money will be left to you if you won 500 Million dollars jackpot at Powerball. After the taxes you will be left with 120 million dollars. It doesn't sound bad but American lotto winners have no right to Privacy. Only 6 states allows you to be anonymous. Imagine all the people wanting hand outs and imagine all the stalkers who will be threat to your life. You have to show your face in public and do interviews to receive your prize.
If I am American and I won lottery, after paying all the taxes, I will leave the US and move to low cost of living country where no one knows me.
Canadian Lotto Winners don't have taxes but have no right for privacy. Italian lotto winners only have 12 percent tax and have right for privacy.
It's still a pretty penny, but not as much as you might think.
12 people like this
12 responses
@Starmaiden (9308)
• Canada
30 Apr 18
They make sure the winners won't be TOO happy. I wonder if the lottery prize is always so high for that reason? After taxes, the only winner is the government. 
3 people like this
@CaptAlbertWhisker (32760)
• Calgary, Alberta
30 Apr 18
Italian Lotto Winners though they have taxes, At least it is not as ridiculous as the one in the us where 60 percent of the money will be gone and you have right to privacy vanished. Italian Lotto winners only gets 12% tax deduction.
At least we don't have those taxes here.
3 people like this
@Starmaiden (9308)
• Canada
30 Apr 18
@CaptAlbertWhisker thats true. But our lotteries don't give out any more than $50 million on a good week. I wouldn't know what to do with $600 million. 
2 people like this
@AKRao24 (27422)
• India
30 Apr 18
I fully agree with your views that ultimate winner is the Government ! Thanks @Starmaiden !
2 people like this
@id_peace (17036)
• Singapore
30 Apr 18
The no right to privacy is a killer. Lucky in my country you have all the privacy you have when you win.
The best part is that everything had been taxed. So you are left with the actual amount available which however means that you only have about 1 to 12 million or so.
Unfortunately for me, I had not strike anything at all.
3 people like this
@AKRao24 (27422)
• India
30 Apr 18
That is too much! People do they have idea about this? despite they involve themselves in these activities? In India also we have heavy tax on winning amount which can go to 40% some times! Thanks for the detailed discussion about the tax levied on the person winning a prize money or a Prize for that matter @CaptAlbertWhisker !
2 people like this
@AKRao24 (27422)
• India
30 Apr 18
@CaptAlbertWhisker , Thanks for the teaching me the tricks of the trade, but unfortunately I can't use them as I never gamble or wager though I am connected with Horse Racing Industry! Thanks!
@CaptAlbertWhisker (32760)
• Calgary, Alberta
30 Apr 18
@AKRao24 Do they tax horse racing in India?
1 person likes this
@CaptAlbertWhisker (32760)
• Calgary, Alberta
30 Apr 18
If you dont pay the taxes for Lotto and gameshow winnings in the US, You will get jailed for it. If I will win Lotto abroad, I will put all the cash on Paypal so my country's government wont know.
1 person likes this
@CaptAlbertWhisker (32760)
• Calgary, Alberta
30 Apr 18
apparently your home address will be public too. The only person who was given privacy by the US lotto is an Iraqi man who won via online transaction, He told the operators of Powerball he will be murdered on his country if he reveal is identity.
1 person likes this
@CaptAlbertWhisker (32760)
• Calgary, Alberta
30 Apr 18
@jstory07 yeah sell your house and move to a state where no one knows you.
1 person likes this
@jstory07 (148734)
• Roseburg, Oregon
30 Apr 18
@CaptAlbertWhisker We would not even go home if we won.
1 person likes this
@asfarasiknow (3340)
• Bournemouth, England
30 Apr 18
Here in the UK, I don't think there are any taxes on the winnings and winners can opt to remain anonymous. Having said that, I am happy for the world to know that I won a tax-free £2.90 a couple of weeks ago. That's a profit of 40 pence on the £2.50 cost of the ticket.
1 person likes this
@CaptAlbertWhisker (32760)
• Calgary, Alberta
30 Apr 18
Who knows that might be the start of your luck's winning streak and you can win the tax free jackpot. So UK Lotto have no taxes? What is the biggest Jackpot your country's Lotto had?
1 person likes this
@CaptAlbertWhisker (32760)
• Calgary, Alberta
30 Apr 18
@asfarasiknow If I win £114 I will migrate to a peaceful 3rd world country and retire like a billionaire. That winner is lucky since there are no taxes.
1 person likes this
@asfarasiknow (3340)
• Bournemouth, England
30 Apr 18
@CaptAlbertWhisker We have various lotteries in the UK: Health, Postcode, charities, etc, but the biggest are the Lotto (formerly the National Lottery) and Euromillions. Without looking it up, I think the biggest National jackpot was £42 million in the 90s, shared by 3. They have added more numbers now so the jackpots are potentially bigger but fewer. The biggest Euromillions winners have been around £150 million. There was a winner last week that was about £114 million!
1 person likes this
@JohnRoberts (109841)
• Los Angeles, California
30 Apr 18
They always make a big deal about "instant millionaire" if someone wins a million when that couldn't be further from the truth. You get less than half of the sum. Lottery winners are unjustly double taxed.
1 person likes this
@CaptAlbertWhisker (32760)
• Calgary, Alberta
30 Apr 18
for sure 120 million is still a big money but all the cash you lost from those taxes.... Most of us dont even know where are taxes go.
1 person likes this
@scarlet_woman (23463)
• United States
14 Jun 18
if you have a lawyer make a trust/LLC under a name before you cash in the ticket,it will keep your direct name off of it.
@scarlet_woman (23463)
• United States
14 Jun 18
@CaptAlbertWhisker if you take annuity,it is much cheaper..but some are too greedy to wait.
@CaptAlbertWhisker (32760)
• Calgary, Alberta
14 Jun 18
@scarlet_woman I guess they think they wont be alive on 29 years. I mean an 88 year old woman won it few years ago and she decided to go for lump song. She doesnt care if she will only get 38 percent of the money.
1 person likes this
@CaptAlbertWhisker (32760)
• Calgary, Alberta
14 Jun 18
I heard that if you decided to claim the money on a slow yearly installment of 1.5 million dollars a year there will be less tax.
1 person likes this
@CaptAlbertWhisker (32760)
• Calgary, Alberta
6 May 18
The Jackpot of Powerball is 205 but I dont know how much will be left after taxes. If you play Lotto in Delaware, Kansas, Maryland, North Dakota, South Carolina and Ohio, You have right to be anonymous.
@CaptAlbertWhisker (32760)
• Calgary, Alberta
30 Apr 18
Showing up on national news and being forced to be interviewed on TV and having your home address go public is bad though.Imagine all the stalkers.
Leaving the US with the money is the solution I think.
Leaving the US with the money is the solution I think.@CaptAlbertWhisker (32760)
• Calgary, Alberta
30 Apr 18
@skysnap There was a lotto winner got murdered because jealous people want to steal his money.
1 person likes this
@skysnap (20152)
•
30 Apr 18
@CaptAlbertWhisker I know what you mean. In US and even in asia that can be risky. in asia many people run away to another country once they win lottery as this invites mafia's.
1 person likes this
@RasmaSandra (98033)
• Daytona Beach, Florida
30 Apr 18
They make winning the lottery a very bad thing indeed. If I won say 50 million I would pay those taxes and once i have my money I would go to live on a tropical island.
@CaptAlbertWhisker (32760)
• Calgary, Alberta
30 Apr 18
Yeah A tropical Island away from the US since most people in the US will remember your face after your multiple forced tv interviews. It is a good way to avoid stalkers.
1 person likes this
@ridingbet (66854)
• Philippines
30 Apr 18
here, the winners' faces are blurred out on TV for their confidentiality
@CaptAlbertWhisker (32760)
• Calgary, Alberta
1 May 18
@ridingbet If you are lotto winner, sometimes even you family cannot be trusted.
1 person likes this
@CaptAlbertWhisker (32760)
• Calgary, Alberta
30 Apr 18
Which is great because Lotto winners should have privacy for their safety.
1 person likes this
@ridingbet (66854)
• Philippines
1 May 18
@CaptAlbertWhisker for fear that somebody might commit crimes to the winners.
@aureliah (24687)
• Kenya
2 May 18
I think everywhere you have to pay taxes for each cent that you earn. They take so much money
@CaptAlbertWhisker (32760)
• Calgary, Alberta
20 May 18
Canadian Lotto and British Lotto have no taxes but the jackpots never rich billions.
1 person likes this
