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July 30, 2008


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One great thing about wining in Canada is that if you win 5 million, you go home with 5 million, not 5 million - taxes. It's fantastic.

My plan if I ever win is to transfer the whole amount in to my ING account, that will mean it sits there for a few days while the transaction clears stopping me from doing something stupid. It's only a few days, but more than enough time for the reality to set in and do things reasonably. I only play in a lottery pool at work though, so I'm splitting the win with a pile of other people.

When I win the lottery, I'm going to waste all the money on hookers and blow.

Just kidding. I don't play the lottery, so there's nothing to worry about...

Lotteries . . . what a fantastic way for the Government to institute a voluntary tax on the poor, uneducated, and forever hopeful. Maybe if the Government applied the lottery system to the entire tax-paying process people wouldn't feel so bad about paying them.

MonkeyMonk -

You may be on to something there - have everyone who files a return get a "ticket" into the tax lottery. The more people that file, the more money into the kitty.

I like that idea too...$1 more for the chance and a ton more revenue. Oh wait...the government taxes too much already. Scratch that.

MonkeyMonk's description of who is affected by the lottery is also an apt description of cigarette taxes (the hopeful part is that the cancer, heart disease and emphysema morbidity affects the guy at the next bar stool).
Both are examples of regressive revenue raisers where financial planners (in this case, legislators and tax collectors) profit from the willingness of people to part with their money for....?

Besides the lost intrest, he is running the risk that the ticket will get stolen or destoyed. While safe deposit boxes are probably reasonably safe for most things, they are not covered by FDIC insurance, like savings accounts and CDs are.
( ). Hopefully he looked into what insurance the bank includes, if any, and whether he needs more (He probably does , with that valuable a slip of paper, though I`ve never had to deal with such worries:)
Otherwise, this just might be his (Un)lucky day...

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