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Laos' get rich quick schemes (Read 37584 times)

llX God Member Offline "Absolute power corrupt." Posts: 2685 Gender: Age: 36 Awards: 2	Re: Laos' get rich quick schemes Reply #15 - 15^th May, 2011 at 4:42pm Power ball in America is a quick money making for the states. Good way to generated revenue. They taxes you about 40%. So if hit $100 million you get $60 million.
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Larb Dip

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Re: Laos' get rich quick schemes
Reply #16 - 15^th May, 2011 at 11:48pm

llX wrote on 15^th May, 2011 at 4:42pm:

Power ball in America is a quick money making for the states. Good way to generated revenue. They taxes you about 40%. So if hit $100 million you get $60 million.
Wink

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Why is it taxed?

The lottery over here isn't taxed! However, the prize pool NEVER jackpots to $100 million. Grin

Grin

The highest ever won was $36 miliion. Tax free. That's still alot of money.

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Re: Laos' get rich quick schemes
Reply #17 - 16^th May, 2011 at 1:39am

Lot and lot of taxes here. Power ball can go up to $300 million and only cost $1 to buy.
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Larb Dip wrote on 15^th May, 2011 at 11:48pm:

llX wrote on 15^th May, 2011 at 4:42pm:

Power ball in America is a quick money making for the states. Good way to generated revenue. They taxes you about 40%. So if hit $100 million you get $60 million.
Wink

Wink

Why is it taxed?

The lottery over here isn't taxed! However, the prize pool NEVER jackpots to $100 million. Grin

Grin

The highest ever won was $36 miliion. Tax free. That's still alot of money.

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PEACE

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Re: Laos' get rich quick schemes
Reply #18 - 16^th May, 2011 at 8:51pm

If you win $100 million, the first tax is 44% and you got $56 million left, then you are hit with a second tax which is 35% and your final take home is ~$36.4 million.
llX wrote on 15^th May, 2011 at 4:42pm:

Power ball in America is a quick money making for the states. Good way to generated revenue. They taxes you about 40%. So if hit $100 million you get $60 million.
Wink

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llX God Member Offline "Absolute power corrupt." Posts: 2685 Gender: Age: 36 Awards: 2	Re: Laos' get rich quick schemes Reply #19 - 16^th May, 2011 at 10:41pm After 44% taxes. You'll get less if taking lum sum instead of 30 year payment. I like Spain lottery. If the pot is $300 million they'll draw 300 wining ticket $1 million each. Instead of one winner take all.
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Larb Dip God Member Offline Lao Pride, and No. 1 Lao Pride Admin' fan from NZ! Posts: 1383 Hadxaifong, Vientiane Gender: Age: 37 Awards: 1	Re: Laos' get rich quick schemes Reply #20 - 16^th May, 2011 at 11:47pm PEACE wrote on 16^th May, 2011 at 8:51pm: If you win $100 million, the first tax is 44% and you got $56 million left, then you are hit with a second tax which is 35% and your final take home is ~$36.4 million. It doesn't sound like much after that does it?
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PEACE

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Re: Laos' get rich quick schemes
Reply #21 - 17^th May, 2011 at 2:07am

I'll take $36.4 million any day Cool

Cool

.

Larb Dip wrote on 16^th May, 2011 at 11:47pm:

PEACE wrote on 16^th May, 2011 at 8:51pm:

If you win $100 million, the first tax is 44% and you got $56 million left, then you are hit with a second tax which is 35% and your final take home is ~$36.4 million.

It doesn't sound like much after that does it? Cheesy

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Re: Laos' get rich quick schemes
Reply #22 - 17^th May, 2011 at 2:14am

That's probably why they make first prize in America is so high, because they've taken into consideration that the winner will be taxed heavily.

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Re: Laos' get rich quick schemes
Reply #23 - 17^th May, 2011 at 2:28am

There is a 1:25,000,000 odds (or something like that) of winning the jackpot. These taxed money supposively goes to education as they say and you have to think it like that. I only play lotto if the jackpot gets to $25,000,000 and above and $2 is enough for me (not a gambler) or once in awhile just for fun. I had 4/6 numbers drawn and won $125 about 10 years ago and so far my lotto gambling money is at the positive end til this day Cool

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Larb Dip God Member Offline Lao Pride, and No. 1 Lao Pride Admin' fan from NZ! Posts: 1383 Hadxaifong, Vientiane Gender: Age: 37 Awards: 1	Re: Laos' get rich quick schemes Reply #24 - 18^th May, 2011 at 12:22am How much is tax in the USA?
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llX God Member Offline "Absolute power corrupt." Posts: 2685 Gender: Age: 36 Awards: 2	Re: Laos' get rich quick schemes Reply #25 - 18^th May, 2011 at 4:47am Larb Dip wrote on 18^th May, 2011 at 12:22am: How much is tax in the USA? Overall I think around 35-40%. There's taxes on everything. Every single dollars you earn Uncle Sam want a piece if it.
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PEACE God Member Offline Posts: 719 DIN FAR Gender: Age: 53	Re: Laos' get rich quick schemes Reply #26 - 18^th May, 2011 at 12:54pm After all said and done, you'd get ~36% of the total jackpot. Larb Dip wrote on 18^th May, 2011 at 12:22am: How much is tax in the USA?
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Larb Dip God Member Offline Lao Pride, and No. 1 Lao Pride Admin' fan from NZ! Posts: 1383 Hadxaifong, Vientiane Gender: Age: 37 Awards: 1	Re: Laos' get rich quick schemes Reply #27 - 18^th May, 2011 at 3:59pm 36% equates to 64% TAX!!! That's rat sht, isn't it?
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llX

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Re: Laos' get rich quick schemes
Reply #28 - 18^th May, 2011 at 9:13pm

Lot of taxes but it's still free money if you win. They say about 1/2 of the people go broke in couple of year after winning a power-ball. You have more, spend more.
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Admin Saovaluck wrote on 17^th May, 2011 at 2:14am:

That's probably why they make first prize in America is so high, because they've taken into consideration that the winner will be taxed heavily.

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PEACE God Member Offline Posts: 719 DIN FAR Gender: Age: 53	Re: Laos' get rich quick schemes Reply #29 - 19^th May, 2011 at 3:07am Money management problem. If I have so many millions, I would invest in land because land gurantees to increase in value every year. Laos would be a perfect place to put your money on .
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