1.5 Billion Dollars... Billion... with a "B"...

[gregintenn]

Jan 11, 2016 21:57:20 GMT -5 TheHaitian said:

Jan 11, 2016 21:24:54 GMT -5 gregintenn said:

I'm not condemning or defending anyone. I'm simply stating what I've seen. I don't see wealthy people standing in line waiting to buy lotto tickets. I don't care what people do. I DO care when I'm taxed to feed their kids while they can always scratch up money for lotto tickets, beer, and smokes.

Really because I remember recently 3 hedge funds managers winning the lottery


Oh yeah there it is :

dealbook.nytimes.com/2011/11/28/connecticut-asset-managers-win-254-million-powerball-lottery/?_r=0

Maybe you need to shop elsewhere

I'd say you're on to something. There aren't many hedge fund managers in my neck of the woods.

[fishy999]

Jan 11, 2016 21:46:51 GMT -5 gregintenn said:

Jan 11, 2016 21:44:32 GMT -5 fishy999 said:

Where do you shop?  

Hate to burst your bubble, but most of the welfare people you seem to be worried about do not buy drugs, alcohol, lottery tickets, and smokes- they can barely afford food- don't think you can buy any of those items with food stamps anyway.

No, but you can sell food stamps for pennies on the dollar to get money for these things. Perhaps this is just local to Tennessee and doesn't happen in the socialist utopia where you live.

I am sure it happens everywhere- but not to the degree you think.  There is no socialist utopia anymore than there is a conservative utopia- both ideologies fail in pure versions.  Have to have a little of both for society to function- too bad we spend our time screaming at each other- only thing that is good for is ratings.  

[Deleted]

Jan 11, 2016 21:23:43 GMT -5 Virgil Showlion said:

Jan 11, 2016 20:13:22 GMT -5 @richardintn said:

Wrong. Just because YOU can't see the harmless fun doesn't mean others can't.

I have a great deal of fun, and I very well know I have a better shot at living quietly in my retirement years on the moon WITHOUT a pressurized habitat.

But why is it fun? Ask yourself that.

Better still, if playing the Powerball is "fun" despite the infinitesimally small odds of winning, ask yourself why simply going through your daily routine isn't funner than a barrel full of monkeys?

After all, you start your day by opening your mail. Your heart is pounding with excitement because this could be the day you get a letter saying one of your long lost relatives died and bequeathed you a $5 million inheritance. The chances of that happening are greater than you winning the Powerball.

Then it's time to open the front door. Now things are getting really exciting. There's a chance you'll see a fiery car crash or a bear mauling your neighbour or a celebrity driving drunk. Newspapers and tabloids pay a mint for that kind of thing if you get it on camera, and the chances of that happening on any given morning is considerably more likely than you winning the Powerball.

Quaking on an adrenaline high, you get into your car. What excitement will today bring? Will you get rear-ended by a millionaire who offers to pay you $800K to not file suit against him even though you're not injured? More likely than you winning the Powerball.

Maybe you'll recognize a wanted criminal with a $150,000 bounty on his head and you'll phone in the winning tip. More likely than winning the Powerball.

Maybe you'll be walking through the park, notice something glinting, and discover that it's buried treasure from the Civil War, or a gold vein, or a gemstone vein worth hundreds of millions, and you're entitled to a 5% finder's fee. More likely than winning the Powerball.

Maybe this will be the day you come home and discover a message on your voicemail from the wealthy developer who wants to turn your block into a shopping mall and is willing to pay you 10 times the market value of your house to get you out ASAP. Still more likely than you winning the Powerball.

Every day in your life must be a deliriously fun experience if you don't give a crap about the odds of something wonderful happening to you--if all that matters is whether the probability is greater than zero. And you don't even have to pay $2.00 per thrill.

It's fun because it's fun!

[Tennesseer]

Bought my tickets today to beat the Wednesday crowds.  I won't win but it will be fun the next few days entertaining ideas what I might do with the money.

[dondub]

I think Virgil has talked me into buying 4 or 5.

[Virgil Showlion]

You people are nuts.

I should write a "YMAM Lottery" plugin. $2.00 a pop buy-in. You'll watch the pot grow week by week and wet yourselves with excitement thinking about all the wonderful things you can buy with the money you'll win.

Then I'll look at the list of everyone who's bought a ticket, figure out which one hates snow leopards the most (besides me of course), award that poster half the money, pocket the other half, and walk away feeling good about myself for offering you all a brief, irrational glimmer of hope.

[Value Buy]

Jan 11, 2016 10:13:08 GMT -5 deminmaine said:

Jan 11, 2016 9:59:47 GMT -5 NoNamePerson said:

Guess this explains why I'm divorced.            I would never dream that I had to ask permission to spend $2 on a lotto ticket.  Not even sure there was a lottery when I was married but I still wouldn't have had to ask permission 

But everyone is different and I respect that difference.  

I think my wife asked me the same question.  I didn't take it that she was "asking permission".  I figured she was asking more to get my opinion, because she rationally knows it's silly, but thought maybe it would be fun.  No big deal.  Two.  Dollars. 

Dem, I sort of see Virgil's philosophy on the lottery issue.
Do any of us kick in two dollars to the homeless shelter, or Red Cross, or any other personal favorite issue at the same time we buy a lotto ticket?
After all it is only two dollars......
Twice a week, maybe 52 weeks a year? Now we are over $200 a year.
Yes, I know we are talking about members here who only splurge when it only gets this high, but there are millions of people who play several lotteries twice weekly regardless of the pot total. 
The excuse is it's only twenty dollars a week........

[Value Buy]

Jan 12, 2016 9:35:43 GMT -5 @sroo4 said:

Jan 12, 2016 9:29:14 GMT -5 Value Buy said:

Dem, I sort of see Virgil's philosophy on the lottery issue.
Do any of us kick in two dollars to the homeless shelter, or Red Cross, or any other personal favorite issue at the same time we buy a lotto ticket?
After all it is only two dollars......
Twice a week, maybe 52 weeks a year? Now we are over $200 a year.
Yes, I know we are talking about members here who only splurge when it only gets this high, but there are millions of people who play several lotteries twice weekly regardless of the pot total. 
The excuse is it's only twenty dollars a week........

But I still don't understand why it's Virgil's or anyone's concern how another person uses their money?  

It isn't.
It's a philosophical discussion.

[NoNamePerson]

Jan 12, 2016 9:29:14 GMT -5 Value Buy said:

Jan 11, 2016 10:13:08 GMT -5 deminmaine said:

I think my wife asked me the same question.  I didn't take it that she was "asking permission".  I figured she was asking more to get my opinion, because she rationally knows it's silly, but thought maybe it would be fun.  No big deal.  Two.  Dollars. 

Dem, I sort of see Virgil's philosophy on the lottery issue.
Do any of us kick in two dollars to the homeless shelter, or Red Cross, or any other personal favorite issue at the same time we buy a lotto ticket?
After all it is only two dollars......
Twice a week, maybe 52 weeks a year? Now we are over $200 a year.
Yes, I know we are talking about members here who only splurge when it only gets this high, but there are millions of people who play several lotteries twice weekly regardless of the pot total. 
The excuse is it's only twenty dollars a week........

I hope my charities aren't counting on a match of my lottery tickets. They will be getting $2.00. Most likely won't be getting any more that that this year. I donate way more than that. I didn't even buy a ticket last year. But that does make me wonder if I am donating way to much to charities based on this philosophy.

[sesfw]

I don't ask permission to purchase lottery tickets from DH. I would be highly insulted if I felt I had to.

Which reminds me, I need to get the ticket out of my purse and put somewhere safe.  Just don't want to forget where 'safe' is. 

[Tennesseer]

Jan 12, 2016 11:03:08 GMT -5 sesfw said:

I don't ask permission to purchase lottery tickets from DH. I would be highly insulted if I felt I had to.

Which reminds me, I need to get the ticket out of my purse and put somewhere safe.  Just don't want to forget where 'safe' is. 

Sign the ticket now.

[cronewitch]

I am not really good at math but a 1 chance in 292 million does that mean for $2 I get one chance or is that for each dollar. The prize isn't a billion and a half unless you take it over 30 payments so it is about 930 million before taxes so if you figure 330 million in taxes you have about 600 million. Is that a good bet if the tickets are $2 each? Wouldn't 594 million be the break even for betting? What if they have two winners you would only get 300 million.
I think I will just save my money so I can at least get something from the dollar menu instead of throwing it away.

The problem with spending $2 on a ticket is that people who do that also spend $2 many other times since they don't watch their pennies. I have only heard poor people say it is only a couple of bucks to justify spending on something not worth having. Watch your pennies and your dollars will take care of themselves. Do they ask themselves is it worth or can I afford it when buying stuff. I can afford whatever I want but somethings aren't worth the cost. I saw candy bars for 1.65 a couple of days ago they were large but not worth that much to me, Christmas candy in bulk foods was 98 cents a pound for really good peppermint in chocolate, I wasn't tempted by the candy bar. A poor person might have gotten it just because they had some cash and it was only a couple of bucks.

[NoNamePerson]

Jan 12, 2016 15:51:22 GMT -5 deminmaine said:

VB- I understand Virgil's argument, and don't really disagree with most of it. I guess the only parts with which I would quibble would be the idea that one shouldn't have the smallest modicum of fun fantasizing about winning- and even that I understand, and agree to the intellectual merit of the point.

I am surprised nobody brought up the point that government legislates morality, restricts other gambling on moral and ethical grounds, and yet sees fit to run gambling schemes (lotteries) whereby it brings in lots of money- much of it from people who can't really afford to participate in the games to the extent that they do.

I'm not a big fan of lotteries, or gambling in general.  I did, however, by a computer pick ticket yesterday for the next drawing on Wednesday. 

I have never seen one person marched into a place selling lottery tickets with a gun to their head. If they are too poor to buy a lottery ticket they shouldn't or is it a stupid factor in play

If they are looking for sympathy they can find it between - never mind. That's an old saying I heard long ago in a bar!!  

[Virgil Showlion]

I WON THE POWERBALL!
I'M A BILLIONAIRE!!










...said your aunt's gardener's 9th grade gym teacher's boss's second wife's neighbour

...who isn't you

...and who now has your money.


But... that won't stop you from comin' back for more next year.

[Tennesseer]

[NoNamePerson]

Jan 13, 2016 7:49:29 GMT -5 deminmaine said:

That's part of my Fantasy Island. If I win 1.3 billion all of my relatives will be rich.

So that way they still won't visit me.

Same here. My only living relative - my son - will be rich. No one else to show up 

[Value Buy]

Time to update the thread title for the prize total before this thread becomes irrelevant after someone wins it tonight!





Still holding out no one hits it so we have a pot for 2.3 billion on Saturday night

[NoNamePerson]

Jan 12, 2016 6:26:47 GMT -5 Virgil Showlion said:

You people are nuts.

I should write a "YMAM Lottery" plugin. $2.00 a pop buy-in. You'll watch the pot grow week by week and wet yourselves with excitement thinking about all the wonderful things you can buy with the money you'll win.

Then I'll look at the list of everyone who's bought a ticket, figure out which one hates snow leopards the most (besides me of course), award that poster half the money, pocket the other half, and walk away feeling good about myself for offering you all a brief, irrational glimmer of hope.

If you think I would do a $2.00 buy in on YMAM you are the one who is nuts. I wouldn't trust that with a ten foot pole to be legit. To many people out there just looking to scam you online with all the fake give me crap going on. Why would you be any different? 

As for the lottery debate - me thinks thou does protest way to much  
 

[Virgil Showlion]

Jan 13, 2016 8:04:57 GMT -5 NoNamePerson said:

Jan 12, 2016 6:26:47 GMT -5 Virgil Showlion said:

You people are nuts.

I should write a "YMAM Lottery" plugin. $2.00 a pop buy-in. You'll watch the pot grow week by week and wet yourselves with excitement thinking about all the wonderful things you can buy with the money you'll win.

Then I'll look at the list of everyone who's bought a ticket, figure out which one hates snow leopards the most (besides me of course), award that poster half the money, pocket the other half, and walk away feeling good about myself for offering you all a brief, irrational glimmer of hope.

If you think I would do a $2.00 buy in on YMAM you are the one who is nuts. I wouldn't trust that with a ten foot pole to be legit. To many people out there just looking to scam you online with all the fake give me crap going on. Why would you be any different? 

As for the lottery debate - me thinks thou does protest way to much  
 

"It's just $2.00."

[NoNamePerson]

Jan 13, 2016 8:26:17 GMT -5 Virgil Showlion said:

Jan 13, 2016 8:04:57 GMT -5 NoNamePerson said:

If you think I would do a $2.00 buy in on YMAM you are the one who is nuts. I wouldn't trust that with a ten foot pole to be legit. To many people out there just looking to scam you online with all the fake give me crap going on. Why would you be any different? 

As for the lottery debate - me thinks thou does protest way to much  
 

"It's just $2.00."

  But it's MY $2.00 to spend as I so choose. That seems to be a concept you don't seem to be able to  grasp. Like I said "Me thinks you protest to much" - wolves in sheep's clothing and all that jazz!!!!

ETA: Odd that you didn't include the whole post to which my reply answered??

[Value Buy]

I really get tired about hearing take the annuity so you do not blow the money.
How could you blow $500,000,000 cash?
Unless you start donating to Hillary's campaign, you will be fine.

Seriously, does anyone believe the Federal and state governments will not be raising individual income tax rates in the next five years, or even multiple times over the next twenty five years, thus eroding your yearly income?
Take the lump sum now, invest half in tax free bonds, and live off the income stream from that.
Also consider buying that tropical island somewhere and instituting your own tax free country.

[Deleted]

Jan 13, 2016 9:23:23 GMT -5 Value Buy said:

I really get tired about hearing take the annuity so you do not blow the money.
How could you blow $500,000,000 cash?
Unless you start donating to Hillary's campaign, you will be fine.

Seriously, does anyone believe the Federal and state governments will not be raising individual income tax rates in the next five years, or even multiple times over the next twenty five years, thus eroding your yearly income?
Take the lump sum now, invest half in tax free bonds, and live off the income stream from that.
Also consider buying that tropical island somewhere and instituting your own tax free country.

We need a Brewsters Millions 2 where someone blows 500,000,000.

[Opti]

Jan 13, 2016 9:23:23 GMT -5 Value Buy said:

I really get tired about hearing take the annuity so you do not blow the money.
How could you blow $500,000,000 cash?
Unless you start donating to Hillary's campaign, you will be fine.

Seriously, does anyone believe the Federal and state governments will not be raising individual income tax rates in the next five years, or even multiple times over the next twenty five years, thus eroding your yearly income?
Take the lump sum now, invest half in tax free bonds, and live off the income stream from that.
Also consider buying that tropical island somewhere and instituting your own tax free country.

How could you blow $500 million? IDK, depends on the person. Anyone can do what they want. Most pick the lump sum and most have what they started with or less within 5 years of winning.

If you think you could manage the lump sum better, go for it. I know I'd be happier with an annuity even if it cut off in year 3, 5, or 24 with this kind of amount.

[Opti]

Jan 13, 2016 8:26:17 GMT -5 Virgil Showlion said:

Jan 13, 2016 8:04:57 GMT -5 NoNamePerson said:

If you think I would do a $2.00 buy in on YMAM you are the one who is nuts. I wouldn't trust that with a ten foot pole to be legit. To many people out there just looking to scam you online with all the fake give me crap going on. Why would you be any different? 

As for the lottery debate - me thinks thou does protest way to much  
 

"It's just $2.00."

As a known lottery hater, $2 would be too much to give you.

[Opti]

The good news I've found on Google is at least two of the big winners I researched have a very small internet footprint so it is possible to win and stay out of the news after the initial rush.

There's always more info on the cautionary tales of course-

Janite Lee, a St. Louis wig shop owner, won $18 million in 1993. Thegamble.jpg 52-year-old then went on a philanthropic binge that lost her everything. Besides the usual million-dollar house and cars, Lee reportedly donated more than $1 million to Washington University, where her namesake reading room commemorates the occasion. She reportedly donated $277,000 to Democratic political candidates, earning herself meals with Bill Clinton, Al Gore, and even the President of South Korea.

She didn’t stop there. $30,000 went to the family of a South Korean church pastor who passed away. The St. Louis Korean American Association received a house from her. Another Korean adoption-related association also benefited.

Lee’s philanthropy was expensive. But combined with her gambling habit—she lost $347,000 in a single year—bank loans, and credit card debt, it harkened disaster. She filed Chapter 7 bankruptcy in 2001.

In 1997, Home Depot stocker Billie Bob Harrell, Jr. won a $31 million Texas jackpot. To the former Pentecostal preacher, $1.24 million per year was a gift from heaven.

He bought a ranch, six homes for himself and family, and a bunch of new cars. After the initial glory subsided, however, Harrell found himself losing and loaning money at an alarming rate. Like many winners, he had trouble saying no to those who ask for his funds.

As a result, Harrell’s life became too stressful to handle. He divorced his wife. Less than two years after hitting paydirt, he committed suicide. “Winning the lottery is the worst thing that ever happened to me,” he is quoted as saying shortly before his suicide
www.westtowninsurance.com/blog/would_winning_the_lottery_give_you_your_happily_ever_after/

How do you spend all that money? Like above only more.

[ArchietheDragon]

Jan 13, 2016 9:23:23 GMT -5 Value Buy said:

I really get tired about hearing take the annuity so you do not blow the money.
How could you blow $500,000,000 cash?
Unless you start donating to Hillary's campaign, you will be fine.

Seriously, does anyone believe the Federal and state governments will not be raising individual income tax rates in the next five years, or even multiple times over the next twenty five years, thus eroding your yearly income?
Take the lump sum now, invest half in tax free bonds, and live off the income stream from that.
Also consider buying that tropical island somewhere and instituting your own tax free country.

Either way, the winner will not handle the money well. 

[Virgil Showlion]

Jan 13, 2016 8:45:58 GMT -5 NoNamePerson said:

Jan 13, 2016 8:26:17 GMT -5 Virgil Showlion said:

"It's just $2.00."

  But it's MY $2.00 to spend as I so choose. That seems to be a concept you don't seem to be able to  grasp. Like I said "Me thinks you protest to much" - wolves in sheep's clothing and all that jazz!!!!

ETA: Odd that you didn't include the whole post to which my reply answered??

I edit out large quote-of-quotes sometimes to reduce the length of my posts. Nobody likes that much redundancy.

As for "it's MY $2.00 to spend as I so choose": what does that have to do with anything?

As I've pointed out several times, and even VB has pointed out on my behalf, this is a philosophical discussion. If it were a philosophical discussion about investing $2.00 into Haitian penny stocks, and my position was that it was a bad idea to invest in Haitian penny stocks, hopefully in that case you can see how "it's MY $2.00 to spend as I so choose" has no relevance to whether or not my argument has merit.

The same is true for this thread. If it were a debate about whether lotteries should be illegal, then "it's MY $2.00 to spend as I so choose" would be a relevant argument. But this discussion quite obviously isn't about legality--or even morality. Nobody, myself least of all, is talking about revoking people's right to have fun throwing their money away on a terrible investment.

If you don't like me calling lotteries "terrible investments" because buying tickets gives you the warm fuzzies and that makes it all worth it: tough. You can gloat when you win the Powerball.

Jan 13, 2016 9:57:53 GMT -5 Opti said:

Jan 13, 2016 8:26:17 GMT -5 Virgil Showlion said:

"It's just $2.00."

As a known lottery hater, $2 would be too much to give you.

[Opti]

Yes lotteries are bad investments. We all know that, so not sure what kind of discussion you want to have? But that's a debate you and perhaps someone wants to have. I don't think most of us want to join in round 347 of 'lotteries bad' by Virgil.

[Virgil Showlion]

Jan 13, 2016 11:20:53 GMT -5 Opti said:

Yes lotteries are bad investments. We all know that, so not sure what kind of discussion you want to have? But that's a debate you and perhaps someone wants to have. I don't think most of us want to join in round 347 of 'lotteries bad' by Virgil.

Obviously some do, because all I'm doing is responding to criticisms of my arguments.

[wyouser]

Look on the bright side. You'd have enough money to buy 2, Two,  of the biggest Airbuses made. And, you would still have enough left over to fuel those babies and stay a good step ahead of all those folks chasing you with ideas of how to spend the money....    And besides, a psychologist on fox this morning says fantasizing about all that money you will never win is actually good for you.