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  • Nazonazokiyoubinbou@mastodon.social
    Jun 13, 2026, 11:57 PM

    @vicfroh The ridiculous thing is, if one steps back just for a split second on their greed to look at it objectively, $628 million is a freaking lot of money!

    But all the super rich can see is "how dare anyone take away any of my money!" and fight tooth and nail over every single cent of it.

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  • Nazonazokiyoubinbou@mastodon.social
    Jun 14, 2026, 4:00 AM

    @hugoestr @vicfroh Yep. They all are 100% willing to collude at no direct profit to themselves if they think it might someday lead to profits for the rich as a whole or if it will screw over all the 99%.

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  • peachfrontpeachfront@toot.community
    Jun 14, 2026, 12:10 AM

    @vicfroh

    soft-shelled eggs in my yard are box turtles but i don't have the knowledge to identify these eggs, could be turtle, could be something else...

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  • disorderlyfdisorderlyf@todon.eu
    Jun 14, 2026, 12:44 AM

    @vicfroh There's also far more billionaires than there are lottery ticket winners, so you wouldn't have to tax it nearly as aggressively to provide the same amount of funding.

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  • huntingdonhuntingdon@mstdn.social
    Jun 14, 2026, 12:57 AM

    @vicfroh

    The tax hit is actually higher than that.

    But the biggest deduction from that $2.04 billion lottery win comes from regulators permitting the lottery to advertise the gross amount. The actual cash value is less than half that, because it's paid out over decades.

    Elsewhere in the world, the present cash value of a prize is what's advertised and paid out,. Try running a lottery the American way overseas and you'd land in prison or pay a whopping fine for false advertising.

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  • MacCruiskeenmaccruiskeen@social.linux.pizza
    Jun 14, 2026, 1:27 AM

    @huntingdon @vicfroh In the lotteries here, you can choose a lump-sum cash payout, but yes, it is less than the top-line number. Usually it is ~60% or so. But this guy probably still paid something like 40% tax on his winnings.

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  • Patch You UpJumpmed@mastodon.social
    Jun 14, 2026, 2:58 AM

    @jik @vicfroh If the prize amount is given to you as a smaller amount if you choose the lump sum, then that difference is being taken by the government. Calling it a fee or a penalty instead of a tax is just as bad as corporations charging hidden fees after advertising a lower amount. It's effectively a tax.
    I'm not saying it's necessarily a bad thing that the government keeps such a large chunk of the money. Nobody needs a billion dollars.

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  • ewhacewhac@mastodon.social
    Jun 14, 2026, 4:29 AM

    @Jumpmed @jik @vicfroh
    > If the prize amount is given to you as a
    > smaller amount if you choose the lump
    > sum, then that difference is being
    > taken by the government.

    INCORRECT.

    The lottery does not have $2.04 billion in cash. They have $997.6 million. If you take the lump sum, that's what you get. If you take the 30 year payout, they put the $997.6 million into a self-amortizing annuity that pays you interest -- exactly like you would pay interest to a bank on a mortgage.

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  • Jonathan Kamens 86 47jik@federate.social
    Jun 14, 2026, 4:35 AM

    @Jumpmed
    Congratulations! Your reply is such an incredible example of moving the goalposts, missing the point, and tortured (false) logic that you get to join the exclusive club of people whose first interactions with me online were also their last.
    *plonk*

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  • I AM BANKSY ☕ / 🗑‍🔥xinit@mastodon.coffee
    Jun 14, 2026, 6:52 AM

    @jik
    Thanks. The numbers didn't make sense as the op presented. I can't imagine more than 50% tax rate applying to anyone ever in the USA.

    I assumed he must have taken a lump sum to get such a high withholding.

    @vicfroh

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  • My camera shoots fascistsMikal@sfba.social
    Jun 14, 2026, 2:07 AM

    @vicfroh

    I disagree. Billionaires should be taxed even harder because the guy who won the lottery is the only honest billionaire. He didn't have to exploit anyone or rip them off.

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  • QuasitQuasit@beige.party
    Jun 14, 2026, 2:49 AM

    @vicfroh

    I think he should have been taxed $2.03 billion. And come the Revolution, we abolish the goddamned lotteries. They're just another way to suction money out of the working class!

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