Comments on: The “bad at math” tax http://www.holyfuckingshityouredumb.com/2012/03/30/the-bad-at-math-tax/ Laughing at other people's dumbness since 2009 Wed, 09 Jul 2014 20:55:42 +0000 hourly 1 http://wordpress.org/?v=4.1.1 By: Two Things You Must Know About The Most Common Winning Lottery Numbers | Winning Lottery Tips http://www.holyfuckingshityouredumb.com/2012/03/30/the-bad-at-math-tax/comment-page-1/#comment-677 Fri, 27 Apr 2012 02:44:02 +0000 http://www.holyfuckingshityouredumb.com/?p=1080#comment-677 […] Finding Lottery Phone numbersHow To Keep Your Travel Photos Safe, Secure and Backed UpCanada Lotto 649 winning numbers for Wednesday, April 25, 2012Win Str8 ClubThe “bad at math” tax – Holy Fucking Shit You're Dumb! […]

]]> By: Dave http://www.holyfuckingshityouredumb.com/2012/03/30/the-bad-at-math-tax/comment-page-1/#comment-676 Tue, 03 Apr 2012 21:47:04 +0000 http://www.holyfuckingshityouredumb.com/?p=1080#comment-676 I’m not sure what you mean. The 50% off the top never even goes into the pot, so you at least don’t get taxed extra on that somehow. The 40% in taxes is just a withholding, same as how part of your paycheck disappears every week and you have to file a tax return at the end of the year to see if you get any of it back or if you actually owe more. Same thing here, they withhold part of the jackpot if you take the lump sum and you file your taxes to see if you get any of it back or owe still more. I assume if you take the annuity, they withhold part of each yearly payment, and you file your taxes at the end of the year like normal.

]]> By: Darien http://www.holyfuckingshityouredumb.com/2012/03/30/the-bad-at-math-tax/comment-page-1/#comment-675 Tue, 03 Apr 2012 21:32:12 +0000 http://www.holyfuckingshityouredumb.com/?p=1080#comment-675 If I correctly understand the way lottery is taxed (and I may not), I believe it’s even worse than you state. My understanding is that they take off that huge 40% lop before you even see the money, but then they tax it *again* as income at the end of the year (and since it puts you in the highest tax bracket by default, that’s another, what, 37% or so).

I mean, I agree with you: it’s one dollar. Who really cares? If you’ll get a giggle out of spending a dollar on a lottery ticket, there’s nothing wrong with that. That said, I have all the reason I need not to play the lottery, which is: the government already steals enough of my money at gunpoint, and I see no need to hand it any more. If I really think gambling would turn my crank, I’d head off to a casino and give my money to *honest* criminals.

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