This can’t be true?
Almost 75 % taxation
This newspaper headline was shared to me today about someone winning the +2 billion dollar Powerball lottery. Apparently the winner can only keep a mere 600 million USD. Because the rest is taxed out of the winner…
That seems just nuts. It’s not like casino winnings are taxed? Why in heaven’s name tax a lottery? In Belgium that is probably the only thing that is not taxed…
Ah well, 600 million isn’t bad either!
Sincerely,
Pele23
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Must live in California. Federal government takes their cut and then California their cut. Anyone who makes too much money in California ends up with less than half of what they earn. Isn't government great? lol
Insane
Lol, this is like being lucky and unlucky at the same time. Must've been a big payday for the tax collector :)