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Posts: 65472
Posted: Fri Mar 09, 2012 9:36 am
QBall QBall: I hope they prosecute this dumb bitch to the fullest extent of the law. Sadly, what she is doing is legal. She may not even have to return the money she took.
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andyt
CKA Uber
Posts: 33492
Posted: Fri Mar 09, 2012 10:13 am
BartSimpson BartSimpson: Just a little info:
Most US lottery prizes reflect the total value of an annuity that pays out over twenty to even as much as forty years.
For about the last decade the lotteries have offered winners the option of taking the cash value of the annuity as opposed to having it paid out over time. In the case of the young lady in Michigan the cash value was reportedly about $750,000.00 and after state, Federal, and local income taxes she was left with about half of that amount or about $350,000.00 so the 'million dollar' lottery winner thing is not exactly accurate.
She's still wrong, for sure, but she's not as rich as the media is making it sound mostly because 'million dollar lottery winner on welfare' sounds a lot better than the truth. But how was she maintaining two houses if she has such low income she qualifies for food stamps? It doesn't make sense. What does it take to qualify for them anyway?
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Posts: 8851
Posted: Fri Mar 09, 2012 10:25 am
andyt andyt: BartSimpson BartSimpson: Just a little info:
Most US lottery prizes reflect the total value of an annuity that pays out over twenty to even as much as forty years.
For about the last decade the lotteries have offered winners the option of taking the cash value of the annuity as opposed to having it paid out over time. In the case of the young lady in Michigan the cash value was reportedly about $750,000.00 and after state, Federal, and local income taxes she was left with about half of that amount or about $350,000.00 so the 'million dollar' lottery winner thing is not exactly accurate.
She's still wrong, for sure, but she's not as rich as the media is making it sound mostly because 'million dollar lottery winner on welfare' sounds a lot better than the truth. But how was she maintaining two houses if she has such low income she qualifies for food stamps? It doesn't make sense. What does it take to qualify for them anyway? Some jurisdictions base the 'need' soley on 'income' and not 'assets'. Some years back when I lived in Northern B.C a local single mom with a 17 year old son - who owned 2 skidoos- was denied benefits, because the welfare office deemed her to be the lawful owner of the skidoos as her son wasn't 18 yrs, so legally couldn't own the machines. She was told to "sell the machines, and live off of the proceeds until it's gone, then reapply for assistance"!
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andyt
CKA Uber
Posts: 33492
Posted: Fri Mar 09, 2012 10:34 am
But it takes income to maintain two houses. How did she buy a million dollar house with her lottery winnings if they were, as Bart said, only 350,000? How did she buy the other house? How does she pay taxes, utilities and upkeep on them? Something is not adding up here.
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Posts: 14139
Posted: Fri Mar 09, 2012 10:40 am
andyt andyt: But it takes income to maintain two houses. How did she buy a million dollar house with her lottery winnings if they were, as Bart said, only 350,000? How did she buy the other house? How does she pay taxes, utilities and upkeep on them? Something is not adding up here. Short answer....it's Detroit. 
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Posts: 8851
Posted: Fri Mar 09, 2012 10:41 am
She has to have some source of income. Whether from rent, or interest bearing account, or... Has to be something which was 'overlooked'!
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andyt
CKA Uber
Posts: 33492
Posted: Fri Mar 09, 2012 10:43 am
Yogi Yogi: She has to have some source of income. Whether from rent, or interest bearing account, or... Has to be something which was 'overlooked'! That's what I'm saying.
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Posts: 65472
Posted: Fri Mar 09, 2012 2:18 pm
andyt andyt: BartSimpson BartSimpson: Just a little info:
Most US lottery prizes reflect the total value of an annuity that pays out over twenty to even as much as forty years.
For about the last decade the lotteries have offered winners the option of taking the cash value of the annuity as opposed to having it paid out over time. In the case of the young lady in Michigan the cash value was reportedly about $750,000.00 and after state, Federal, and local income taxes she was left with about half of that amount or about $350,000.00 so the 'million dollar' lottery winner thing is not exactly accurate.
She's still wrong, for sure, but she's not as rich as the media is making it sound mostly because 'million dollar lottery winner on welfare' sounds a lot better than the truth. But how was she maintaining two houses if she has such low income she qualifies for food stamps? It doesn't make sense. What does it take to qualify for them anyway? It's Michigan. One of our posters from Windsor just a few months back was crowing about how he bought several homes there for under $1,000 each. That she owns two homes in that economic climate is not terribly remarkable.
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Brenda
CKA Uber
Posts: 50938
Posted: Fri Mar 09, 2012 2:22 pm
BartSimpson BartSimpson: andyt andyt: BartSimpson BartSimpson: Just a little info:
Most US lottery prizes reflect the total value of an annuity that pays out over twenty to even as much as forty years.
For about the last decade the lotteries have offered winners the option of taking the cash value of the annuity as opposed to having it paid out over time. In the case of the young lady in Michigan the cash value was reportedly about $750,000.00 and after state, Federal, and local income taxes she was left with about half of that amount or about $350,000.00 so the 'million dollar' lottery winner thing is not exactly accurate.
She's still wrong, for sure, but she's not as rich as the media is making it sound mostly because 'million dollar lottery winner on welfare' sounds a lot better than the truth. But how was she maintaining two houses if she has such low income she qualifies for food stamps? It doesn't make sense. What does it take to qualify for them anyway? It's Michigan. One of our posters from Windsor just a few months back was crowing about how he bought several homes there for under $1,000 each. That she owns two homes in that economic climate is not terribly remarkable. It is when she is on food stamps.
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Posts: 65472
Posted: Fri Mar 09, 2012 2:32 pm
Brenda Brenda: It is when she is on food stamps. And then we're back where we started that she should not be getting the food stamps but, for some reason, the Michigan legislature will not pass a law prohibiting what she's been doing.
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