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Someone in Michigan wins $1.05 billion Mega Millions jackpot

17 Comments
By ED WHITE

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17 Comments
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1,000 people winning $1 million each would help more people than one person having enough to spend $1 million per year for 1000 years.

12 ( +13 / -1 )

My new friend!

5 ( +6 / -1 )

It's not like Japan. The person will lose 30 to 40% to taxes right off. Also, their names are publicized and they will be approached by all manner of sharks and long-lost relatives and "friends."

Many winners lose everything because they are not ready to manage such large amounts of money. Most people have no experience in being wealthy. Wealthy people learn it along the way, but an overnight change like this is way over most people's skill set. It's surprisingly easy to lose wealth.

That said, a billion dollars provides one heck of a cushion and a lot of room for error.

-5 ( +3 / -8 )

It's not like Japan. The person will lose 30 to 40% to taxes right off. Also, their names are publicized and they will be approached by all manner of sharks and long-lost relatives and "friends."

Actually not all states have the winners names publicized, in fact Michigan does not require it either, but in this case it will be publicized because it is a multi-state lottery.

And even if it was 50% in taxes they still get $500,000,000.00 not too shabby!

8 ( +8 / -0 )

you could clean up the whole of Detroit for that!

0 ( +4 / -4 )

Yes, so how much is left after taxes?

-1 ( +0 / -1 )

Lottery takes a percentage off the top and Michigan govt. does too. Will only get $441,000,000 or so if taken as a one lump sum.

So, not a billion. I would pout and say , Then I don’t want it.

0 ( +1 / -1 )

Enough.

-1 ( +0 / -1 )

He will find he suddenly has a lot of new friends. I hope he is prepared for that.

0 ( +0 / -0 )

Hilarious that anyone is worried about taxes on this. Some people sound like conservatives: “If I can’t have if all, I don’t want any!”

-2 ( +4 / -6 )

Rumor is that it was won by a group of teachers and school staff from a Detroit suburb. I’m guessing they aren’t going to be complaining too much about the taxes. Everyone who buys a lottery ticket goes in knowing that a big win will be about 1/2 of the total and even with that, those teachers will still have multiple times more than money they’d make after a lifetime in the classroom.

As for having to have your name publicized, there are ways around that. You can set up a trust and have the prize won in the name of the trust. As long as you can keep your mouth shut and don’t make a bunch of impetuous, grandiose purchases, you should be fine.

2 ( +2 / -0 )

commanteerToday  01:19 pm JST

It's not like Japan. The person will lose 30 to 40% to taxes right off. Also, their names are publicized and they will be approached by all manner of sharks and long-lost relatives and "friends."

No, it’s not like Japan, where the biggest regular lottery prize is something like the equivalent of $2,000,000.00. I think the Mega Millions starts at $20,000,000.00.

I have mixed feelings about publicizing the winner’s name. On the one hand, greedy “friends” and con artists come out of the woodwork. On the other hand, not knowing who the winner is creates opportunities for lottery fraud.

2 ( +2 / -0 )

1,000 people winning $1 million each would help more people than one person having enough to spend $1 million per year for 1000 years.

Gentle is the slope that leads to socialism...

-4 ( +1 / -5 )

What is the address?

-1 ( +0 / -1 )

I think I have won last night. My dog chose the numbers. I always hoped and believed it'd be lucky. Finally.

0 ( +0 / -0 )

No, it’s not like Japan, where the biggest regular lottery prize is something like the equivalent of $2,000,000.00. I think the Mega Millions starts at $20,000,000.00.

No, the top prize is 1 billion yen, which is about $9.5 Million! Not to mention that it is tax free, and there are more than one winner!

2 ( +2 / -0 )

Please help stop the blight and restore Detroit's neighborhood of abandoned homes.

0 ( +0 / -0 )

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