+aria afghan lol

You pay for it by the government taking half the prize pool as tax before the rest is distributed. That's why your jackpots suck compared to our jackpots.

@@MegaBallPowerBall Look at our population. Ik its 2 years ago you posted this message but our recent one was 65 million and divide the population of our countries to get a multiple of like 8.5.. Multiply the two and you get around 500 million.

Boy Canada is about to be over crowded yall keep telling about all the benefits 🤗

In Canada they tax you heavily anyway

ummmm---NO....IF YOU TAKE the annual payments....your payments will equal the jackpot amount....but, again you do have to pay taxes on that amount

Top prize is paid out over 29 years. Both the top prize and cash option totals are before taxes. Federal tax rate is 37% and state tax depends on where you win the prize.

@@sheezamann2724 Ummm... Yes. If you offer to sell me your car for 10,000 and I agree, and take possession, are you going to let me pay you over 29 years (no %). Why not? you are still getting your full 10K? The other big lie (in California)was that it would bring more money to schools. Sure it brought a billion dollars to the schools but then they just cut the existing budget by a billion so there was no net gain and they now had an extra billion that politicians could use to buy more votes with their targeted handouts etc. government in general is dishonest, and worse than the mob in that in runs the biggest ponzi in history (social security).

@@alanaldpal950 except that u pay $2 for the car with a chance of winning. The lottery company doesn't owe u anything. You willingly buy a ticket in hopes of having that $2 investment multiply by 10000%.

I guess welcome to the top 1% that don't pay their fair share.

@@armadillotoe except the CLEARLY DO...the bottom 49% is actually the only group that DOESN'T pay their fair share.

well...thank the democrats for all that bullshit.

The question is whose pockets are the taxes going in.

thanks ever so much :)

viva canada

Viva La Canada!

But living in canada isn't all suns and rainbows though

@@mnight207 It's not bad really and people make way more of the taxes we pay than it is. I have family that moved from here to there and what you make to cost of living is right about the same.

for real doe😧 that's on the set!😞😔

Doe, a female deer

Like all taxes

The root of the problem is government spending not taxes. Even with the excessively high tax burden placed on Americans, the government still manages to dig itself deeper in debt.

Yes,it does. Smh

U pay taxes by the state you purchased in so if u live NYC but purchased in texas u have no state tax and u can also claim anonymous because you would be under texas rules

No…that’s not true, in California, despite its high income tax, lottery winnings are not subject to state taxes, CA is one of ten US states that do not charge an income tax on lottery winnings

Except your lottery is who pays for your winnings tax or rather the deposit of said winnings.

You got it reversed

Dave, are you intoxicated? The woman in the video didn't win the lottery. She works for Forbes magazine

Yes, as she said. After everyone pays national tax/ IRS/ Federal tax currently for these jackpots it's at 39.6%. Most states have further state income taxes. It depends non where you buy the ticket. Not where you live. About 10 states do not charge any income tax including: Texas Wyoming Tennessee Florida Washington state Delaware New Hampshire Plus Puerto Rico and Virgin Islands I think still don't charge taxes on winnings If you live in NYC then you are screwed with further taxes on top of state income tax which is already high at nearly 9%. NYC winners pay a further city and county tax too. If you live in NYC on a big jackpot it's worth traveling to New Hampshire or Delaware buying a ticket and saving your self vabout 15% in tax. So basically 2 different people can split a jackpot but depending on where you buy the ticket. So it's best to find out which stat doesn't state income charge for winnings and doesn't charge income tax on winnings not people from other states buying tickets

Run state & federal hopefuls to make that part of their political platform.

top rate is now 37% (2018)

Lake Martin Just think that the so called forefathers of the U.S. were willing to die and fight against a 3% tax that the British were trying to squeeze out of them, hence the Boston tea party. 😞

Remember that when you hear Bernie and Hitlery and AOC speak about the rich paying their “fair share.”

@@BreuckelensFinest the forefathers were willing to die and fight against taxation without representation. Not about being taxed at all.

How did you think NYC Emergency gets its Funding for full time staffing compared to most other towns who have been switching over to volunteer departments.

as of 2018 no longer deductible

Martin Armendariz if you actually worked hard for your ENTIRE life then you wouldnt be in that situation. Stop lying to yourself and admit your errors, then try to work your way out. At this rate, your life will just be a shithole forever

Friends Do you want to know the secret of winning a lottery…. Here is the the link that helps you to win your next lottery… tinyurl.com/lottowin55

That's outrageous!! I see why people wait til the jackpot is really hight to play. Smh

Well if you win a million after taxes and just put the money in the bank as long as it isn't stock market things you could make money.but it becomes taxable money.the next tax time rolls around and your taxed on your income,which is a million dollars.so it's bullshit

The top tax rate was 39.4% for federal taxes, it has decreased to around 37% now.

Ronaldo Reis FS. either way u pay 48 ~ 51% depending on the state rates.. Game % Fed % State % Local% jb

Yeah it is not that difficult to look up the current IRS tax bracket and rates per bracket, heck just search 'income tax in USA' on Wikipedia for the previous and current years max % and the difference in the brackets that get tax per each percentage. However some taxes can be a bit confusing for the uneducated and that is where the advisor or tax attorney comes into play for winners to be able to understand how to collect and get taxed less per the IRS/Federal Govt..

Fermain Jackson Google that shit fam

common sense question do you pay for federal tax? do you pay for state and local income tax?

Federal tax is 37% (2018) FL has no state income tax.

Lol no

You may be older, you may want to invest it yourself, you may want to buy a very expensive hooker.

They are charged a higher tax rate

Foreigner will be left with 30% of his winnings

Nobody escapes the tax man.

Saul garciá greenwood2850canadaamamánda code texax pass i ouw

You don't get the money until it's already taxed

any lottery winnings over whatever the retail amount is some winnings go to like $600 if its more than $600 you would need to go to the lottery customer service to claim your check

Yes at 500k you hit the max tax rate of 37%

Previous year the minimum to get the highest tax was lower.

So it's a scam. Would you take the one off payment or periodic? I don't trust the US economy, i would cash out start businesses/venture capital off the interest.

Stamps600 im 3 years late but i thought i would tell you that your numbers are WAY off. Did you even watch the video? Thr top federal tax rate was 35%, not 50. And they take about 35-37% if you take the lump sum. All in all you get about 33-36% of the jackpot.

I am confused and hope to prepare a youtube video on the topic. receiving a lump sum payment versus getting paid over 30 years. on paper it makes sense to receive a lump sum payment but what most people forget is if you receive a lump sum payment and if you just make one poor investment decision or if you are swindled by a wife husband child relative or trusted lawyer accountant you can lose everything. you presume that every person in your family is honest and all investment advisors like those famous ones arrested or in jail like Bernie Madoff. if you do get ripped off or if you go on a crazy spending spree at least you know every year you have a huge check waiting for you. all these economists fail to grasp is most humans make poor decisions

*john doe* You and I are around the same figures. I calculates roughly 37.4%. So for every million dollars won, here in NYC i would get roughly 374K. For every $100 million I would get roughly $37.4 million dollars. Hey it's better than a poke in the eye!

john doyle. its 48 ~ 53% lump sum the game % fed% state % local % depends on state residing.. former big jackpot risker jb tax laws have changed

likaboss7654 same at CA

Selig A popular name for the US federal government is Uncle Sam. He get 39.6% of your lottery winnings in the form of income tax.

Selig you're not from the US, are you?

😂😂😂 I’m sick of the charity bull they be spitting. A lot of charities profit off the money and don’t help the actual reason they started it. I’ll do my own charity work.

You're missing the point

It's not a two dollar bet anymore if you've been playing for years, and if you never win which is likely, how much of that loss money is the tax man gonna cover?

Uncle Sam is not the United States. We've been led to believe this crock of shit. Uncle Sam is actually the Federal Reserve's, who is a private bank that was created by roughly around 13 families that "tax" the American people into believing that they need to pay them in order not go to jail. So in other words, they are a mafia that lends the United States our (well their) money to us & charges us interest & basically does whatever they want whenever they want through fear & ignorance & we just accept it. Read the book, "The Creature from Jeckle Island." These are all facts that I share. According to the usa Constitution and the Bill of Rights, the Government is suppose to be the people. But we don't think of ourselves as the Government. We think of a group of people that work in DC as our government. No, they work & represent us, nothing more or less.

It is entertainment for some, and desperation for others.

ting280 saying you have plenty isn't an a good reason to talk half of your money. Many palayers spent their hard harned taxed money on tickets, sometimes their entire life. But of course our government want more than a fair percentage like always. Most of the time these are lower income people. Under 100k a year. The government wants to double tax everything they touch. It's because they spend money wrecklessly. Point is. I paid taxes. The government needs a flat rate tax max of 12 percent. They won't tax the rich at a high percentage than the middle class or poor. Because they want to keep them happy to stay here. So the already rich stay rich and the already poor will get less for being lucky.........