NumbersGirl Posted June 19, 2013 Share Posted June 19, 2013 Full story is here for anyone who cares to read it. Brief synopsis, an 84-year-old Florida lady won the recent $590 million Powerball lottery jackpot. She admittedly cut in front of another lady to get her ticket; that 34-year-old lady was kind enough to let the old lady cut in front of her even though the cashier didn't want to let it happen, and the young lady's little girl was like hey wtf this old hag is cutting in line. The end result is the old lady won the big jackpot (although now it is "only" $370 million since she elected to take the lump sum payout). There is a big outcry/debate going right now as to whether the winner should give the young lady a portion of the winnings as a "thank you" and/or "sorry for cutting in line". What do you think? Should the winner keep all the money, or give some of it to the other lady (and if the latter, how much)? Give reasons for your opinion. I have some thoughts about this, but I'd like to see some of your opinions first. Link to comment Share on other sites More sharing options...
Prince Myshkin Posted June 19, 2013 Share Posted June 19, 2013 She should but she doesn't have to. It's a disgusting amount for anybody to win. I'd love to win it. If I was the one who hadn't won I'd probably not be able to sleep for quite a long time. Link to comment Share on other sites More sharing options...
Reilly Posted June 20, 2013 Share Posted June 20, 2013 She should at least give a few million, personally I'd give more, but old people can be ****s just as much as anyone. But if we're going to get technical about it, if the other woman had kept her place in line, she definitely wouldn't have been drawn the same numbers (Unless she drew them at the same millisecond). Link to comment Share on other sites More sharing options...
Batman Posted June 20, 2013 Share Posted June 20, 2013 She should but she doesn't have to. It's a disgusting amount for anybody to win. I'd love to win it. If I was the one who hadn't won I'd probably not be able to sleep for quite a long time. I wanted to write down my first thought about that story that was rather asshole-ish, but then this is also an opinion I can relate to. Link to comment Share on other sites More sharing options...
Coldplay Posted June 20, 2013 Share Posted June 20, 2013 Out of politeness, sure, I would and I would kind of expect it if I was in that lady's position :anxious: yes I'm greedy But uhh it's not like she would've gotten the same numbers had she been in that spot in line, it's not like the combinations are made already and drawn out in a queue, they're formed completely randomly. Link to comment Share on other sites More sharing options...
Cobalt Posted June 20, 2013 Share Posted June 20, 2013 I'm guessing both are aware of the other's identity now? The older lady is not obligated to. I actually don't know what I would do in this situation - on one hand it's a nice gesture, on the other if the younger had not let her pushed in she wouldn't have drawn the same numbers anyway. Unfortunately I don't perceive this story as being about genuinely being nice and it sounds more like 'it's not faiiiiiiiir'. I don't know why, I'm just cynical with money I guess. Link to comment Share on other sites More sharing options...
Empily Posted June 20, 2013 Share Posted June 20, 2013 I spose if I where her I'd at least give her a couple thousand quid to say thanks, seeing as though you could easily afford to... But if I had just won like $20 I wouldn't have given the lady anything... but there again the other lady is not going to get arsey about $20. Link to comment Share on other sites More sharing options...
busybeeburns Posted June 20, 2013 Share Posted June 20, 2013 where does the "other" $220m go? Same place the $571m goes while it gathers interest if annual payments are taken? Link to comment Share on other sites More sharing options...
Lodder Posted June 20, 2013 Share Posted June 20, 2013 where does the "other" $220m go? Same place the $571m goes while it gathers interest if annual payments are taken? It goes to the Lodder fund. Link to comment Share on other sites More sharing options...
busybeeburns Posted June 20, 2013 Share Posted June 20, 2013 No excuse for not going to the beehive then! Link to comment Share on other sites More sharing options...
Lodder Posted June 20, 2013 Share Posted June 20, 2013 No excuse for not going to the beehive then! I own it now ;) Link to comment Share on other sites More sharing options...
Prince Myshkin Posted June 20, 2013 Share Posted June 20, 2013 I wonder who needs the money all up front? Link to comment Share on other sites More sharing options...
Reilly Posted June 20, 2013 Share Posted June 20, 2013 ^84 year olds who don't think they'll live to be 114 and receive it in annual payments. Again I also take an issue with that, if I was old I'd accept the annual payments for my family to inherit, she'd get $19million up front and every year she does live, jeese. Link to comment Share on other sites More sharing options...
Prince Myshkin Posted June 20, 2013 Share Posted June 20, 2013 Yeah, I thought that about the inheritance. I may be completely wrong but I imagine a huge lump sum would get taxed more to pass on too. Link to comment Share on other sites More sharing options...
Reilly Posted June 20, 2013 Share Posted June 20, 2013 I'm also not sure but I think when it comes to multi-millions they do tax the hell out of it, but there must be some amount that once it goes higher than that they can't just keep raising the percentage of tax taken off of it. Link to comment Share on other sites More sharing options...
NumbersGirl Posted June 20, 2013 Author Share Posted June 20, 2013 where does the "other" $220m go? Same place the $571m goes while it gathers interest if annual payments are taken?The people in charge of the lottery don't shout it from the rooftops, but the $590m (or any jackpot) is the face value of the annuitized payments; the $590m isn't the actuarial present value of the payments. It's paid out as in increasing (4%) 30-year annuity in order to accommodate for future inflation (because inflation would totally be something you'd worry about if you won that much money). Considering this lady is 84, her future life expectancy of 7 years makes the default 30-year annuity moot. I assumed that the $371m was the present value of the future benefit payments (accounting for interest), but after reading this maybe that's not the caseThe estimated jackpot usually is 32.5% of the (non–Power Play) revenue of each base ($1) play, submitted by game members to accumulate into a prize pool to fund the jackpot. If the jackpot is not won in a particular drawing, the prize pool carries over to the next drawing, accumulating until there is a jackpot winner. This prize pool is the cash that is paid to a jackpot winner if they choose cash. Regardless, she'll also have to pay taxes. Florida doesn't have income tax, so she'll only have to pay federal taxes. Lump sum tax rates are pretty steep but she'll still make out just fine methinks. Link to comment Share on other sites More sharing options...
Prince Myshkin Posted June 20, 2013 Share Posted June 20, 2013 I'm sure she'll be left with enough. Link to comment Share on other sites More sharing options...
Wyrd Posted June 21, 2013 Share Posted June 21, 2013 The amazing thing in the Netherlands with those things is that if the old lady would give - let's say - a million to the young lady who let her go first, the young lady or old lady could get all the taxes back from that million from NL because it's a gift! Link to comment Share on other sites More sharing options...
Black Rose Posted June 21, 2013 Share Posted June 21, 2013 Was the person whom let her cut in line going to buy a ticket? I would imagine that time of day, hundreds/thousands tickets were being sold every minute, so even a second later and the winning numbers would have been lost. One good thing with the UK tax law is that if someone wins the £160 million on the euro-millions on Tuesday, they will take home £160 million. 'Jeffrey' won't be able to touch any of it for the bankers bonus pot. Link to comment Share on other sites More sharing options...
Reilly Posted June 21, 2013 Share Posted June 21, 2013 ^Yes the woman bought a ticket after her and was planning to, and it's already been pointed out that she wouldn't have won if she had have gone first. As I said it'd have to be the exact same millisecond, either if it's a random number generator, which I'm sure it is, or if particular sets of random numbers are ready to be dealt out, in that situation the thousands of other people buying lottery tickets at that time would've got the numbers. And nobody knows what you're talking about with Jeffrey and the bankers bonus pot, or is that somewhat intentional. Link to comment Share on other sites More sharing options...
Coldplay Posted June 21, 2013 Share Posted June 21, 2013 Who is Jeffrey Link to comment Share on other sites More sharing options...
Black Rose Posted June 21, 2013 Share Posted June 21, 2013 Bankers Bonus Pot - Taxes Jeffrey - George Osbourne (what Obama called him) Link to comment Share on other sites More sharing options...
Reilly Posted June 21, 2013 Share Posted June 21, 2013 Bankers Bonus Pot - Taxes Jeffrey - George Osbourne (what Obama called him) Thanks, but why can't you just write without constant sardonic cryptic messages. Who is Jeffrey Shush you go play a face melting solo OH YEAH THATS RIGHT YOU CANT :bomb: Link to comment Share on other sites More sharing options...
Coldplay Posted June 21, 2013 Share Posted June 21, 2013 Bankers Bonus Pot - Taxes Jeffrey - George Osbourne (what Obama called him) Shush you go play a face melting solo OH YEAH THATS RIGHT YOU CANT :bomb: ok Link to comment Share on other sites More sharing options...
Black Rose Posted June 21, 2013 Share Posted June 21, 2013 Thanks, but why can't you just write without constant sardonic cryptic messages. Shush you go play a face melting solo OH YEAH THATS RIGHT YOU CANT :bomb: As it's the weekend. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now