Wait... Why would you only get half the money if you take it in a lump?😮😮

I don't know why that dude doesn't just shave his head...

@@DeepValueOptions no, that was a separate thing. He mentions that, that no matter if you get the money in small chunks or in one big lump you pay tax. But if you take it all at once, then you only get half, and then tax is deducted from that half. So I wondered why only half from the get-go

Abolish the IRS and SEC

I am curious, if you live in a state with low income taxes, but buy the ticket while on vacation. Do you have to pay taxes from the state you bought the ticket, or the state you are from? Do we have an answer to this?😮😮😮😮

That's why it's called a voluntary tax.

Not if you take payments

The house always wins.

I'll happily pay tens of millions of dollars on my lottery win.

​@@JamesR1986Foolish

The government needs to go to prison

This government need a regime change

This government need a regime change

Amen plus who gave them the rights ??

@@inkbold8511 agree. we need a socialist government asap

Government mandated taxation AND extortion! Another government form of revenue stream and taxation on the poor at best, of course Uncle Sam ALWAYS gets his cut!

Sex, Gambling, Alcohol.....keep them distracted.

​@@Unmaleable how does the government support sex? 💀

I'll take 25m

uk and eurupean lotto are TAX,of Any kind FREE! YOU get the FULL amount,But Lottery is a "Working Class" tax because only The Not rich play it!

I see that “Friday” reference good one lol

Well they could increase everyone's taxes for education at least some lucky people or bad investors get something back for a change. I know i would be bummed too!

*soviet anthem intensifies*

Have you tried guessing tho, it sure ain’t easy 😂😂

Exactly!

Yes but it’s incredible how stupid taxes are there shouldn’t be as many as there are today most of them go towards war, weapons and unnecessary things

Especially if you spend 700 dollars a year in tickets

Abolish the IRS and SEC

Abouta move to Canada

Same in Australia.

In Germany it will get taxed after a year, so just invest it and easy 😊

True

Same in the U.K.

Bro 😂😂😂

Time to gamble with my life to deliver this pizza for a $4 tip! See you guys later

😂yep!!

😂😂😂

😊haha nice.. been there, done that.. drive responsibly my friend @@tybarker5038 😂

I believe it's the same in Denmark, you get what you win. Have a good day.

Same in the Uk :)

Same everywhere else in the world.

Same thing here uk 🇬🇧 👍🏼💷 💰 Ker Ching 👌🏼👍🏼. There is tax mind on the interest you make. That said , what do most people do anyway when they win => buy things which have already got tax(v.a.t) built-in to the cost ~ So whatever way you look at it Your taxed just appears less So .

Yes but our lottery is so much smaller than in the usa

i think thats a good thing.

@@christianlee7244 explain?

​@@afishynado6812creating tax dollars out of thin air.

​​@@christianlee7244not really because after they take taxes they also take taxes from all the stuff you will spend that money on. If I won I would move my money and my family somewhere else so the USA doesn't get my money.

​@@THEFIFTHDIMENTIONcare to explain where?

Alot of ppl don't know this 👍

@Keegan Hughes The founding fathers are rolling in their grave right now.

The rallying cry of the colonists was "No taxation without representation."

No, not really. It was taxation without representation

​@@Aaron-dp5kb'Murica muh GUNZZZ!!!

lol this a welfare abuser, i bet ^ 😂

Incredibly stupid take

They just recouped 38 million from 175 wealthy tax evaders.... if you actually fund them they can do their job, which is good for us tax paying law abiding citizens.

@@seymourkrelborn207who tf cares about 38 mil? Our government spends trillions a year it has nothing to do with tax evasion and everything to do with government spending. They could tax every American 90% of their money and we still would have a deficit.

@ldeez4375 try thinking long term... if the irs is underfunded and they could still get 38 mil from the rich, who can afford litigation, imagine what a funded irs could do... then with the money they reoup we can pay for Healthcare education and the stuff that matters. A working government works for all of us, but conservatives just break and then convince people like you it's useless.

No tax in Alaska either. 😁

@@AkReneeno state taxes maybe but Alaskans still pay federal taxes right ?

And that's why Americans pay most of the u.n. support for most of rhe world

Click on the link

Fr instead Grhama wanted to explain something everyone already knows

Same

The United States taxes you on the interest too

Thats because the money advetised is pre taxed. Im not sure but i Think its an EU-law

@@mathiasthorvaldsen5010 no you just aren’t taxed on lottery wins or gambling wins in the uk. It’s always been the case in the uk. US tax laws are a con.

That’s how it should be.. like it’s not income is fucken one in a billion chance gambling win.. just pure scum to take any of it. Their already probably taking huge cuts from the gambling companies themselves, usually.

That sounds like the fair thing to do. USA is too greedy on that.

Fun fact, the price and odds of the ticket are basically the same in Canada but the jackpots are way way way way way way lower.

All lotteries are a poor man’s tax.

Yeah but from what I can find, the average Canadian family pays 45% of their income in taxes compared to 28.5% in the U.S. So you win big if you win the lottery for sure, but the average person is losing half their pay for their whole lives.

@@HatedJaredI understand this argument from an American sometimes, but also as a Canadian diabetic I’m all for paying my taxes. Because I don’t have to scrounge for my medication I get it for basically free. And that’s why we get taxed so high

@@HatedJaredthis is false 🙁 someone who makes 120000$ a year will pay 36.2% of that amount towards taxes in the province with the highest tax rate (quebec)

@@HatedJared In BC, you have to make over $163,000/yr to pay 45% income tax. If you make $34,840/yr (40 hour weeks min wage) you pay 20%.

What about marginal tax in Canada?

That is insane… taxes should not be that high…

Its basically bordaline "legalized" robbery

That dude lived in California So he got robbed twice By the State and the Federal Government

In the end it's always the government that really wins. Then we just continue to work for them for a wage just to give it right back to them. Modern day slavery.

Thats crazy. Any other country pay taxes on lottery wins? In NZ we dont.....but then our jackpots has never gone over 30odd mill

😂😂😂😂 you are the lab of the world. WEF just keep fucking you all.

Your government is much better than ours in the USA . Politicians net worth grows like crazy after they are elected. It is very sad . They forget they will judged

Same in Germany

No taxes on inheritances either.

They just take it out already, they dont mention the pretax amount. So yes its tax free when you get it but the government got theirs already.

His name is Timothy Shultz… he has a self titled KZfaq channel and he interviews other lottery winners. His story is a good one!

And significantly, in Canada you don't pay any tax on your full winnings! Any income you generate through those winnings is however taxable.

And in the UK

That’s not really the case, in Canada you win the whole amount but after a fiscal year you have to pay taxes on the remaining money you haven’t spent, we still get fucked by the government but at least they give us a year to spend as much as possible.

Hard to believe that sorry to say, because we all know any government would be rubbing their dirty hands to get their cut of a lottery win

​@@hereforagoodtyme9361you are incorrect you only pay tax if you put the money in a bank and it earns interest then only the interest amount is taxable. If you invest in stocks you pay tax on any earnings only not the lottery money. So cash and tax free savings accounts if you don't want to pay the tax.

How do you know if he explained that in the video clip?

​@frankb.1546 well there was more chance if he played it all of finding out wasn't there?

fr bro💀

It was just under 16mill after taxes.

He actually has a youtube channel and interviews other lottery winners 🎉

Same for Canada

You recieve the full amount in the uk aswell, if u put it all in the bank into a "savings" account u only get interest on it and dont pay tax on it

that is why your country is a cess pit

​@@markeymark25 you pay 20% tax on interest on anything over £1,000...I guarantee that a lotto winner would be paying that!

That's nice, otherwise lottery would become nightmare ;half would go for taxes and half would vanish in relatives, friends line-up asking for monetory help.

same in Ireland

Imagine being that poor sap that has to share their winnings with the government

Same in South Africa.

Yep same in Blighty 🇬🇧

You just got raped for the other $75M. Let that sink in.

You wouldn't be upset that someone took $75,000,000 away from you?

@@terracottapienope lol. I’ll take my lil 25 mill.. they can keep that 75. Don’t gotta work another day in my life

​@@UA7s Yeah but you're coming from the perspective of someone who doesn't hold a winning lottery ticket. So your options are: (a) $0, or (b) $25 million out of nowhere. So of course (b) is better. But if you're actually holding the lottery ticket where you just won $100 million, then suddenly having 3/4ths of it disappear from your hands isn't as appealing anymore.

​@@terracottapienot as appealing as having nothing? I don't know like, I'd still take the 25M even with having to pay the tax on it.

It's Germany, we talk about U.S where majority of them don't consider themselves female or male

And uk

​@@mittao86no worries, we are not far behind over here

*"Call J.G. Wentworth, 877 cash Now! 877 cash Now!!"* 😂

Same with the UK and all gambling income.

Do you still have the "Irish Sweepstakes'?

same for europe ❤

Meanwhile in Canada your gas is higher, food prices higher, healthcare sucks, and you’re all a bunch of pussies

Same with us in the UK, France and Germany

Tax is paid from the ticket. Not from the winnings.

Hey. Im coming to canada rn

​@@DDHH616teea

Exactly

That's how I see it.

Yeah but you'd want to get a sum somewhat proportional to the risk you take

@BEN-ys6gu what are you on about. The most a single lottery ticket costs here in the UK is £5 for a scratchcard. And and £1 for Lotto and £2.50 for EuroMillions. Where on earth is the risk going to be proportional to the sum. Its supposed to cheap to win big. You have to elaborate.

I love him and his show!!

I see what you did there lol

What does the South Eastern Conference have to do with any of this?

@@graysonallen3479 Geek

@@graysonallen3479 Freaking nerd

Yep exactly. It's Bullshit for realll

And Biden wants more 😂

@@wordsjustwords3156 wtf biden gotta do with this?

@@avianreacts He's the one trying to get higher taxes on lotto winnings with a ten percent plus tax hike on the already ridiculous forty three to forty seven percent of the winnings.

Mathematically a horrendous decision

Why would I have it over 27 years when I could die next week? Plus the value of it in 27 years will be much lower to now

@@benchoflemons398 yo ass is gonna disappear by the end of the 27 years, that’s what’s mathematically horrendous

⁠@@hoogadabooga u should lower your risk of death… but I get it taking the money asap and investing would make wayy more

No you ain’t

🤔 what's the fed tax % on the lottery?

But then there's other taxes too. Like city tax, federal tax, county tax and etc. So the government takes a cut of your winnings

Even if you are somewhat stupid with it… it should still be enough to set up for life.

Even if you are somewhat stupid with it… it should still be enough to set up for life.

It is in a way but usually people take the lump sum cause with all that money you can safely invest it and get a lot of the money you lose by getting the lump sum back. Plus who knows the state of the world 25 years from now

The value after cumulative inflation means that after 27 years, the purchasing power of that amount is much less then it was at the origin.

if you somehow die before the 27 years end, the payments stop. they are not continued to family members, it just ends. which is something to also think about

You always want to take it right than and there.

It’s literally the worst move u can make 😂 take it all at once and invest to make the money back & then some & enjoy life. 27 years 😂

No you wouldn’t bro

I mean sure, if someone drove up to your front door and handed you $25,000,000, that would be great. But I guarantee that if you legitimately won $100,000,000 you would not be content with getting $25,000,000

And then your bank account can be frozen if you donate to a protest the PM doesn't like

Same in UK all gambling winnings are tax free

Big up canada 🇨🇦

Not after Taxes

😂😂😂

😂😂😂

I’d take that money use it to take them to court and sue them win that case and win all my money back and you’ll never see or hear from me again

Big brain tax evasion

@JPmax4 so its a crime 😭?

@@cambamslam3510 Only if you’re caught

@@JPmax4ever real

Uncle Sam doesn’t get paid second. He gets paid first. Just like if you were working a w2 job whatever you decide. Taxes come out before you get your portion nice try 😂

For our elderly 🙄. Gtfoh!

Dang

That’s what it’s made for, trick people into paying taxes

That's what I just said🤣🤣