Recently, I read the story of a Michigan woman who won the lottery and was still collecting food stamps. And while I understand the outrage over her egregious behavior, I was dumbstruck by the unreported story within the story.
Supposedly the woman won $1,000,000. Sounds good, but the reality is that she didn't receive $1,000,000 nor anything close to that. First, she opted for a lump sum payment which reduced the award to $700,000. Then the tax man came, and chopped that figure down to about $400,000.
Holy crap! $400,000 is a lot less than $1,000,000, and just to get the advertised prize she would have to win the lottery one and a half more times. Where's the outrage that people playing the lottery are being shafted? Seriously. That's false advertising and someone should be held accountable.
Someone who wins money playing the lottery is usually not well off. It's not as if every year they take home $700,000. Why tax them as if they did? It's one thing to ask Buffet to pay more, he makes $700,000 every hour. In addition, government runs the lottery!. Isn't it ironic that they sponsor the lottery, award you the money, and then demand that you pay them their "fair" share? Not even the mob can do shit like that.
The gap between $400,000 and $1,000,000 is ridiculous and as far as I'm concerned, she should keep the food stamps on principal. One good screw deserves another.