Why do Americans tolerate such abusive taxes? Even Australia doesn't tax lottery winners, let alone steal 2/3 of their winnings.
>>62182234dont live in California
>>62182234because they still believe that taxes are some sort of a necessary evil
>>62182234>Even Australia doesn't tax lottery winnersThey do tax the winnings, same as here in NZ.But the law is that the lottery is only allowed to advertise the post-tax sum.So if you win a $1M jackpot, it's actually more like $1.5M with the $500k being paid as tax and $1M being deposited to you.Same concept as USA stores advertising the pre-GST price, and when you get to the counter they add the Sales Tax onto your bill.
>>62182234Lottery is a scam anyways....
>>62182234There's two parts to this:1. An advertised jackpot has a far lower cash value if you take the lump sum. It depends based on interest rates. Basically the advertised jackpot is based on taking the amount paid out over 30 years. If you take the lump sum on a $2 billion lotto you probably take home more like $1 billion.2. Then that cash value of $1 billion is taxed at basically 39.6% plus state income taxes. Those are the income taxes someone pays on very large incomes.3. It's nice to hate taxes but of all the incomes I'm mad to see getting taxed lottery jackpots are the lowest of my sympathies.
