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Not logical but who knows

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  • Center Left
    Independent
    Central, FL
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    The Powerball jackpot was 900 million for last nights drawing. Nobody won. The jackpot for Wednesdays drawing is expected to be 1.3 Billion dollars. Is buying a ticket a good idea ? Not really, the odds are around 1 in 300 million. If you need every dollar that you have - don't buy one. Will I ? Oh yes. I'll get a chance or two but I won't spend 20 or more dollars. Two bucks for a chance. Cash option pays about 1/2 so if you could get by on 650 million (or more, it could go higher) you can get a chance at many gas stations, or convenience stores. Best of luck to you.

    channel3000.com/money/powerball-jackpot...

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    If after all taxes are paid and the cash out is $600,000,000 then you can rest assured that at least 200 million will disappear. Fees, consulting, consultants et al will chew away $200 million in a heartbeat and with the support and blessing of the winner doing the smart thing.
  • Center Left
    Independent
    Central, FL
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    Jackpot is up to 1.5 billion. With the drawing 30 hours away I don't know if that total prize will change. One two or three lives be changed substantially. A cup of coffee won't do that. Mark Cuban is a billionaire and he's suggesting that the winner hire a great tax attorney. Great idea. I'm not looking for wealth but I am looking for comfort for myself and several special people around me. With crazy ass odds it could be that nobody wins Wednesday. I can't imagine what would occur then.
  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    Chet Ruminski Wrote: If after all taxes are paid and the cash out is $600,000,000 then you can rest assured that at least 200 million will disappear. Fees, consulting, consultants et al will chew away $200 million in a heartbeat and with the support and blessing of the winner doing the smart thing.

    CNBC did an interesting article breaking down exactly how much a sole winner would take in after taxes.

    If there was only one winner and they took the lump sum it would shrink to $930 million before taxes. Then there would be the federal taxes, which brings it down to $561.7 million. Then, depending on where you bought the ticket, there could be local and/or state taxes deducted from that sum.

    The article stated that after all the taxes are calculated the total would be roughly $422.2 million. It's no paltry sum, but it's still a far cry from $1.5 billion.