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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]So it's it possible to be pushed into a high enough tax bracket that you lose money? That's what my mom always implied. I always urged her to apply to jeopardy because she knows all the answers abd she said, no, too many taxes.[/quote]

On their podcast, they mentioned being pushed into a higher tax bracket by winning the million. They did say the $477K was estimated, but like a PP, I have always figured winners get half of what the announced winnings are.

Right now Mega Millions is showing 830M.  Cash option is $487M.  Figure after taxes, the actual winning is half of that.  A lot of money to be sure, but kind of sucks lottery winnings are taxed so high. [/quote]
Why would lottery winnings be taxed any lower than other income?[/quote]

Because I feel personally these lottery programs which are supposed to allegedly be income generators for schools should allow for tax free winnings. It is a double tax.  The government basically provides no service yet they want their outrageous cut. It’s criminal IMHO.[/quote]

1) Taxes are the way lotteries are income generators for schools. 
2) Better to tax windfalls like lotteries than labor. Same as better to tax dead people than living workers.
3) You have an absurd definition of what is “criminal.” Taxes by definition are not criminal. [/quote]

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