@@DeepValueInvesting no, that was a separate thing. He mentions that, that no matter if you get the money in small chunks or in one big lump you pay tax. But if you take it all at once, then you only get half, and then tax is deducted from that half. So I wondered why only half from the get-go
I am curious, if you live in a state with low income taxes, but buy the ticket while on vacation. Do you have to pay taxes from the state you bought the ticket, or the state you are from? Do we have an answer to this?😮😮😮😮
Well they could increase everyone's taxes for education at least some lucky people or bad investors get something back for a change. I know i would be bummed too!
Government mandated taxation AND extortion! Another government form of revenue stream and taxation on the poor at best, of course Uncle Sam ALWAYS gets his cut!
@@christianlee7244not really because after they take taxes they also take taxes from all the stuff you will spend that money on. If I won I would move my money and my family somewhere else so the USA doesn't get my money.
Same thing here uk 🇬🇧 👍🏼💷 💰 Ker Ching 👌🏼👍🏼. There is tax mind on the interest you make. That said , what do most people do anyway when they win => buy things which have already got tax(v.a.t) built-in to the cost ~ So whatever way you look at it Your taxed just appears less So .
They just recouped 38 million from 175 wealthy tax evaders.... if you actually fund them they can do their job, which is good for us tax paying law abiding citizens.
@@seymourkrelborn207who tf cares about 38 mil? Our government spends trillions a year it has nothing to do with tax evasion and everything to do with government spending. They could tax every American 90% of their money and we still would have a deficit.
@ldeez4375 try thinking long term... if the irs is underfunded and they could still get 38 mil from the rich, who can afford litigation, imagine what a funded irs could do... then with the money they reoup we can pay for Healthcare education and the stuff that matters. A working government works for all of us, but conservatives just break and then convince people like you it's useless.
In the end it's always the government that really wins. Then we just continue to work for them for a wage just to give it right back to them. Modern day slavery.
The lottery is basically another tax. The fact that they get to "tax" it again is crazy. Scratch tickets in Massachusetts pay 61 cents on the dollar, and people buy them all the time.
Yeah but from what I can find, the average Canadian family pays 45% of their income in taxes compared to 28.5% in the U.S. So you win big if you win the lottery for sure, but the average person is losing half their pay for their whole lives.
@@HatedJaredI understand this argument from an American sometimes, but also as a Canadian diabetic I’m all for paying my taxes. Because I don’t have to scrounge for my medication I get it for basically free. And that’s why we get taxed so high
@@HatedJaredthis is false 🙁 someone who makes 120000$ a year will pay 36.2% of that amount towards taxes in the province with the highest tax rate (quebec)
Your government is much better than ours in the USA . Politicians net worth grows like crazy after they are elected. It is very sad . They forget they will judged
@@mathiasthorvaldsen5010 no you just aren’t taxed on lottery wins or gambling wins in the uk. It’s always been the case in the uk. US tax laws are a con.
That’s how it should be.. like it’s not income is fucken one in a billion chance gambling win.. just pure scum to take any of it. Their already probably taking huge cuts from the gambling companies themselves, usually.
That’s not really the case, in Canada you win the whole amount but after a fiscal year you have to pay taxes on the remaining money you haven’t spent, we still get fucked by the government but at least they give us a year to spend as much as possible.
@@hereforagoodtyme9361you are incorrect you only pay tax if you put the money in a bank and it earns interest then only the interest amount is taxable. If you invest in stocks you pay tax on any earnings only not the lottery money. So cash and tax free savings accounts if you don't want to pay the tax.
In Australia, you receive the entire amount up front and pay no taxes on it. Of course if you put it all in the bank and earn interest on it, you pay tax on the interest because that is now classed as income.
That's nice, otherwise lottery would become nightmare ;half would go for taxes and half would vanish in relatives, friends line-up asking for monetory help.
@@UA7s Yeah but you're coming from the perspective of someone who doesn't hold a winning lottery ticket. So your options are: (a) $0, or (b) $25 million out of nowhere. So of course (b) is better. But if you're actually holding the lottery ticket where you just won $100 million, then suddenly having 3/4ths of it disappear from your hands isn't as appealing anymore.
@BEN-ys6gu what are you on about. The most a single lottery ticket costs here in the UK is £5 for a scratchcard. And and £1 for Lotto and £2.50 for EuroMillions. Where on earth is the risk going to be proportional to the sum. Its supposed to cheap to win big. You have to elaborate.
The reason they give you the lump sum is because that's all the physical money they have on hand If you do the annuity They're able to keep reinvesting that money until they have to pay you!
That’s horrible tho it’s like false advertising uncle sam don’t wanna pay fully out but if any of us owe the government money they hound you every chance they get smh
@@avianreacts He's the one trying to get higher taxes on lotto winnings with a ten percent plus tax hike on the already ridiculous forty three to forty seven percent of the winnings.
It is in a way but usually people take the lump sum cause with all that money you can safely invest it and get a lot of the money you lose by getting the lump sum back. Plus who knows the state of the world 25 years from now
if you somehow die before the 27 years end, the payments stop. they are not continued to family members, it just ends. which is something to also think about
I mean sure, if someone drove up to your front door and handed you $25,000,000, that would be great. But I guarantee that if you legitimately won $100,000,000 you would not be content with getting $25,000,000
I'm from Canada, and here lottery winnings aren't taxed. The only way they can be taxed here are if you generate income from your winnings (e.g. opening a business and generating income from the business)
Uncle Sam doesn’t get paid second. He gets paid first. Just like if you were working a w2 job whatever you decide. Taxes come out before you get your portion nice try 😂
I laugh when people makes it sound like it’s a bad thing. You still have a million times more than you had before who gives a f 😂 I would still be thankful and feel blessed. 💸
Here in germany its tax free but we dont have that high lottery’s numbers One is max 120 million chance 1:140 million on the other one is pretty low not worth playing
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Check Out The Full Video Here: th-cam.com/video/Ywkhs4gnpsg/w-d-xo.html
Wait... Why would you only get half the money if you take it in a lump?😮😮
I don't know why that dude doesn't just shave his head...
@@DeepValueInvesting no, that was a separate thing. He mentions that, that no matter if you get the money in small chunks or in one big lump you pay tax.
But if you take it all at once, then you only get half, and then tax is deducted from that half.
So I wondered why only half from the get-go
Abolish the IRS and SEC
I am curious, if you live in a state with low income taxes, but buy the ticket while on vacation. Do you have to pay taxes from the state you bought the ticket, or the state you are from? Do we have an answer to this?😮😮😮😮
IRS wins the lottery every spin
That's why it's called a voluntary tax.
Not if you take payments
The house always wins.
I'll happily pay tens of millions of dollars on my lottery win.
@@JamesR1986Foolish
IRS needs to go to prison
The government needs to go to prison
This government need a regime change
This government need a regime change
Amen plus who gave them the rights ??
@@inkbold8511 agree. we need a socialist government asap
I won the the lottery
Government: We won the lottery.
I see that “Friday” reference good one lol
Well they could increase everyone's taxes for education at least some lucky people or bad investors get something back for a change. I know i would be bummed too!
*soviet anthem intensifies*
and this is why the government supports gambling
Government mandated taxation AND extortion! Another government form of revenue stream and taxation on the poor at best, of course Uncle Sam ALWAYS gets his cut!
Sex, Gambling, Alcohol.....keep them distracted.
@@Unmaleable how does the government support sex? 💀
I'll take 25m
uk and eurupean lotto are TAX,of Any kind FREE! YOU get the FULL amount,But Lottery is a "Working Class" tax because only The Not rich play it!
When you win the lottery, the government actually wins the lottery.
i think thats a good thing.
@@christianlee7244 explain?
@@afishynado6812creating tax dollars out of thin air.
@@christianlee7244not really because after they take taxes they also take taxes from all the stuff you will spend that money on. If I won I would move my money and my family somewhere else so the USA doesn't get my money.
@@THEFIFTHDIMENTIONcare to explain where?
25 million is still good for doing nothing but guessing numbers lol
Have you tried guessing tho, it sure ain’t easy 😂😂
Exactly!
Yes but it’s incredible how stupid taxes are there shouldn’t be as many as there are today most of them go towards war, weapons and unnecessary things
Especially if you spend 700 dollars a year in tickets
Abolish the IRS and SEC
You just described my paycheck, I play the lotto every time I get paid.
Bro 😂😂😂
Time to gamble with my life to deliver this pizza for a $4 tip! See you guys later
😂yep!!
😂😂😂
😊haha nice.. been there, done that.. drive responsibly my friend @@tybarker5038
😂
In Canada, lottery wins are not taxed. What you win is what you get.
I believe it's the same in Denmark, you get what you win. Have a good day.
Same in the Uk :)
Same everywhere else in the world.
Same thing here uk 🇬🇧 👍🏼💷 💰 Ker Ching 👌🏼👍🏼. There is tax mind on the interest you make. That said , what do most people do anyway when they win => buy things which have already got tax(v.a.t) built-in to the cost ~ So whatever way you look at it Your taxed just appears less So .
Yes but our lottery is so much smaller than in the usa
In Canada, you get the whole thing tax free. Lottery isn't taxed.
Abouta move to Canada
Same in Australia.
In Germany it will get taxed after a year, so just invest it and easy 😊
True
Same in the U.K.
I wanted to listen to the lottery winner
Click on the link
Fr instead Grhama wanted to explain something everyone already knows
*laughs in no taxes in Australia*
Abolish the IRS.
lol this a welfare abuser, i bet ^ 😂
Incredibly stupid take
They just recouped 38 million from 175 wealthy tax evaders.... if you actually fund them they can do their job, which is good for us tax paying law abiding citizens.
@@seymourkrelborn207who tf cares about 38 mil? Our government spends trillions a year it has nothing to do with tax evasion and everything to do with government spending. They could tax every American 90% of their money and we still would have a deficit.
@ldeez4375 try thinking long term... if the irs is underfunded and they could still get 38 mil from the rich, who can afford litigation, imagine what a funded irs could do... then with the money they reoup we can pay for Healthcare education and the stuff that matters.
A working government works for all of us, but conservatives just break and then convince people like you it's useless.
It's ironic that this country was founded because of high taxes
Alot of ppl don't know this 👍
@Keegan Hughes The founding fathers are rolling in their grave right now.
The rallying cry of the colonists was "No taxation without representation."
No, not really. It was taxation without representation
@@Aaron-dp5kb'Murica muh GUNZZZ!!!
The two billion dollar winner ended up with six hundred fifty million.
That is insane… taxes should not be that high…
Its basically bordaline "legalized" robbery
That dude lived in California
So he got robbed twice
By the State and the Federal Government
In the end it's always the government that really wins. Then we just continue to work for them for a wage just to give it right back to them. Modern day slavery.
Thats crazy. Any other country pay taxes on lottery wins? In NZ we dont.....but then our jackpots has never gone over 30odd mill
Fun fact: Lottery winnings aren't taxed in Canada
Fun fact, the price and odds of the ticket are basically the same in Canada but the jackpots are way way way way way way lower.
The lottery is basically another tax. The fact that they get to "tax" it again is crazy. Scratch tickets in Massachusetts pay 61 cents on the dollar, and people buy them all the time.
All lotteries are a poor man’s tax.
Here in Canada you aren't taxes on lottery winnings, only interest collected. 🇨🇦🇨🇦
Yeah but from what I can find, the average Canadian family pays 45% of their income in taxes compared to 28.5% in the U.S. So you win big if you win the lottery for sure, but the average person is losing half their pay for their whole lives.
@@HatedJaredI understand this argument from an American sometimes, but also as a Canadian diabetic I’m all for paying my taxes. Because I don’t have to scrounge for my medication I get it for basically free. And that’s why we get taxed so high
@@HatedJaredthis is false 🙁 someone who makes 120000$ a year will pay 36.2% of that amount towards taxes in the province with the highest tax rate (quebec)
@@HatedJared In BC, you have to make over $163,000/yr to pay 45% income tax. If you make $34,840/yr (40 hour weeks min wage) you pay 20%.
What about marginal tax in Canada?
No taxes on lottery winnings here in Australia.
No taxes on compensation payouts either
🇦🇺
😂😂😂😂 you are the lab of the world. WEF just keep fucking you all.
Your government is much better than ours in the USA .
Politicians net worth grows like crazy after they are elected. It is very sad . They forget they will judged
Same in Germany
No taxes on inheritances either.
They just take it out already, they dont mention the pretax amount. So yes its tax free when you get it but the government got theirs already.
When you win the lottery, the government wins the lottery.
When you lose the lottery, the government still wins the lottery.
The fact that I would be millions of $$$ richer would definitely change my life forever.
In the UK , if you win £100,000,000 , you get the lot.
You are NOT taxed on your winnings.
You are only taxed on the interest it makes.
The United States taxes you on the interest too
Thats because the money advetised is pre taxed. Im not sure but i Think its an EU-law
@@mathiasthorvaldsen5010 no you just aren’t taxed on lottery wins or gambling wins in the uk. It’s always been the case in the uk. US tax laws are a con.
That’s how it should be.. like it’s not income is fucken one in a billion chance gambling win.. just pure scum to take any of it. Their already probably taking huge cuts from the gambling companies themselves, usually.
That sounds like the fair thing to do. USA is too greedy on that.
I wanted to hear the story of the young lottery winner.
His name is Timothy Shultz… he has a self titled TH-cam channel and he interviews other lottery winners. His story is a good one!
In my country, there are no taxes on money you win.
The winner in the video has a whole channel devoted to interviewing lottery winners. It’s pretty fascinating!
If you win the lottery in Canada... you get every cent.
And significantly, in Canada you don't pay any tax on your full winnings! Any income you generate through those winnings is however taxable.
And in the UK
That’s not really the case, in Canada you win the whole amount but after a fiscal year you have to pay taxes on the remaining money you haven’t spent, we still get fucked by the government but at least they give us a year to spend as much as possible.
Hard to believe that sorry to say, because we all know any government would be rubbing their dirty hands to get their cut of a lottery win
@@hereforagoodtyme9361you are incorrect you only pay tax if you put the money in a bank and it earns interest then only the interest amount is taxable. If you invest in stocks you pay tax on any earnings only not the lottery money. So cash and tax free savings accounts if you don't want to pay the tax.
Fun fact: canada doesn't tax lottery winnings. What you win is what you win.
The government ended up with more than the winner.
In Australia, you receive the entire amount up front and pay no taxes on it. Of course if you put it all in the bank and earn interest on it, you pay tax on the interest because that is now classed as income.
Same for Canada
You recieve the full amount in the uk aswell, if u put it all in the bank into a "savings" account u only get interest on it and dont pay tax on it
that is why your country is a cess pit
@@markeymark25 you pay 20% tax on interest on anything over £1,000...I guarantee that a lotto winner would be paying that!
That's nice, otherwise lottery would become nightmare ;half would go for taxes and half would vanish in relatives, friends line-up asking for monetory help.
If you hadn't interrupted maybe we would have found out exactly how much he won and how much after taxes.
How do you know if he explained that in the video clip?
@frankb.1546 well there was more chance if he played it all of finding out wasn't there?
fr bro💀
It was just under 16mill after taxes.
He actually has a youtube channel and interviews other lottery winners 🎉
25 mill sound nice
Australia has no tax on winnings as we don't consider winnings to be income unless you are a professional gambler
same in Ireland
Imagine being that poor sap that has to share their winnings with the government
Same in South Africa.
Yep same in Blighty 🇬🇧
I still don’t think I would be crying with 25 million in my back pocket😅
You just got raped for the other $75M. Let that sink in.
You wouldn't be upset that someone took $75,000,000 away from you?
@@terracottapienope lol. I’ll take my lil 25 mill.. they can keep that 75. Don’t gotta work another day in my life
@@UA7s Yeah but you're coming from the perspective of someone who doesn't hold a winning lottery ticket. So your options are: (a) $0, or (b) $25 million out of nowhere. So of course (b) is better.
But if you're actually holding the lottery ticket where you just won $100 million, then suddenly having 3/4ths of it disappear from your hands isn't as appealing anymore.
@@terracottapienot as appealing as having nothing? I don't know like, I'd still take the 25M even with having to pay the tax on it.
Damn, imagine winning the lottery at 21
I won the lottery yes!!
Government: You won us the lottery yes!!
"I have an annuity but I need cash NOW!"
*"Call J.G. Wentworth, 877 cash Now! 877 cash Now!!"* 😂
In germany you don’t have to pay any taxes on money you win in the lottery because it’s not seen as income
It's Germany, we talk about U.S where majority of them don't consider themselves female or male
And uk
@@mittao86no worries, we are not far behind over here
I wish someone who won the lottery would be the one telling us what happens when you win the lottery
And this is why the lottery is legalized gambling where the house always wins the house being the government in this case
In Ireland the Lottery is Tax Free
Same with the UK and all gambling income.
Do you still have the "Irish Sweepstakes'?
Meanwhile in Canada you get all the money tax free
Meanwhile in Canada your gas is higher, food prices higher, healthcare sucks, and you’re all a bunch of pussies
Same with us in the UK, France and Germany
Tax is paid from the ticket. Not from the winnings.
Hey. Im coming to canada rn
@@DDHH616teea
Bro’s comb over 😂 got me
You win the lottery but the government wins the prize.
In Canada no taxes on lottery winnings no matter the amount. However, biggest lottery jackpots are around $70M
same for europe ❤
I'd still be happy with the 25mil. Certainly more than I had before hand
Exactly
That's how I see it.
Yeah but you'd want to get a sum somewhat proportional to the risk you take
@BEN-ys6gu what are you on about. The most a single lottery ticket costs here in the UK is £5 for a scratchcard.
And and £1 for Lotto and £2.50 for EuroMillions.
Where on earth is the risk going to be proportional to the sum. Its supposed to cheap to win big. You have to elaborate.
Oh no, only 25 million, what will I ever do?
The reason they give you the lump sum is because that's all the physical money they have on hand If you do the annuity They're able to keep reinvesting that money until they have to pay you!
Tim Schultz is awesome. I love his interviews with lottery winners from around the world.
That’s horrible tho it’s like false advertising uncle sam don’t wanna pay fully out but if any of us owe the government money they hound you every chance they get smh
Yep exactly. It's Bullshit for realll
And Biden wants more 😂
@@wordsjustwords3156 wtf biden gotta do with this?
@@avianreacts He's the one trying to get higher taxes on lotto winnings with a ten percent plus tax hike on the already ridiculous forty three to forty seven percent of the winnings.
A win is a win
_IRS needs to go to jail with P Diddy._
Timothy Shultz has his own yt channel where he interviews other lottery winners.
His second interview of Randy Rush is particularly interesting.
I love him and his show!!
Open a trust fund . Redeem on behalf of the trust . Then the trust pays beneficiaries . A financial advisor would guide you through it .
Just gonna sue the irs at that point
a win is a win
That’s still enough for my family to never worry about money again.
Here in California, there aren't any state taxes on lottery winnings. You have to be a state resident though at the time of winning.
🤔 what's the fed tax % on the lottery?
But then there's other taxes too. Like city tax, federal tax, county tax and etc. So the government takes a cut of your winnings
Bro was your goddam glass
graham is mad he didn’t invest that $5 into a property
In Germany when you win the lottery its completely Tax free
Abolish the IRS and SEC
What does the South Eastern Conference have to do with any of this?
@@graysonallen3479 Geek
@@graysonallen3479 Freaking nerd
"freedom" 😂😂😂😂
We don’t pay tax on our winnings in Canada but it’s important to know how to invest because we get taxed on the earnings that the winnings make.
How corrupt is that. Extortion. I would be in jail if I did this to people.
No you wouldn’t bro
25 mil is plenty to be set for life if you're smart with it.
Even if you are somewhat stupid with it… it should still be enough to set up for life.
Even if you are somewhat stupid with it… it should still be enough to set up for life.
It doesn't matter. A win is a WIN!!!
Imagine complaining about receiving $25 million 🤦🏾♀️😂
Taking it over 27 years sounds so much better
It is in a way but usually people take the lump sum cause with all that money you can safely invest it and get a lot of the money you lose by getting the lump sum back. Plus who knows the state of the world 25 years from now
The value after cumulative inflation means that after 27 years, the purchasing power of that amount is much less then it was at the origin.
if you somehow die before the 27 years end, the payments stop. they are not continued to family members, it just ends. which is something to also think about
You always want to take it right than and there.
It’s literally the worst move u can make 😂 take it all at once and invest to make the money back & then some & enjoy life. 27 years 😂
definitely taking the 27 years of payment
Mathematically a horrendous decision
Why would I have it over 27 years when I could die next week? Plus the value of it in 27 years will be much lower to now
@@benchoflemons398 yo ass is gonna disappear by the end of the 27 years, that’s what’s mathematically horrendous
@@hoogadabooga u should lower your risk of death… but I get it taking the money asap and investing would make wayy more
No you ain’t
bro looks like a who from the Grinch💀
In the UK we dont pay a single penny in tax on lottery wins. We get to keep ALL of it
No tax on lottery winnings in Canada. Until you invest and earn money.
With $25 million dollars you could have a $150k to $200k live style for the rest of your life
Not after Taxes
Not the politicians and tv stars, they win and never pay tax😂
A WIN IS A WIN!
25 mil good for me😭
I mean sure, if someone drove up to your front door and handed you $25,000,000, that would be great. But I guarantee that if you legitimately won $100,000,000 you would not be content with getting $25,000,000
Well in here in Canada we don’t do that. You get the whole thing.
And then your bank account can be frozen if you donate to a protest the PM doesn't like
Same in UK all gambling winnings are tax free
Big up canada 🇨🇦
the math isn’t mathing😭
I'm from Canada, and here lottery winnings aren't taxed. The only way they can be taxed here are if you generate income from your winnings (e.g. opening a business and generating income from the business)
Only $25 million? I'd throw it back in their face!
😂😂😂
😂😂😂
I’d take that money use it to take them to court and sue them win that case and win all my money back and you’ll never see or hear from me again
Things like this make me want to see government crumble to the ground.
In Canada when you win the lottery it is one check with the full amount
I think id take the over 27 years bit
Still 25 mil more then I had when I bought the ticket....
The lottery, the government's "other" racket.
For our elderly 🙄. Gtfoh!
Lotto is the biggest earning for governments
Me:
(Laughs in Texas) 🎩💸💰
And then your Dad finally came back to grab a bit
What happens if you move?Like if I waited until I got the other lump sum and then moved to Belize or something would they still demand tax money?
Big brain tax evasion
@JPmax4 so its a crime 😭?
@@cambamslam3510 Only if you’re caught
@@JPmax4ever real
Uncle Sam doesn’t get paid second. He gets paid first. Just like if you were working a w2 job whatever you decide. Taxes come out before you get your portion nice try 😂
When he won he never did drugs, weeks later he was addicted to coke.😂😂
So that's where our defense budget comes from lol
My father won a million and after the lotto took it’s cut and taxes he walked away with 545k
Dang
So when people gamble, got wins no matter who wins the lottery
That’s what it’s made for, trick people into paying taxes
Not denying the taxes are crazy, but I could live off $25 million.
Lottery Prize amounts are Hyped and not the actual amount. So the Government gets it's money twice.
U.K doesn't charge tax on lottery winnings 😂
That's what I just said🤣🤣
If the IRS is gonna take %50 of my winnings then they need to pay for %50 of my lottery ticket
No taxes here in Sweden when you win the lottery. What you win is all yours. As it should be.
I laugh when people makes it sound like it’s a bad thing. You still have a million times more than you had before who gives a f 😂 I would still be thankful and feel blessed. 💸
Here in germany its tax free but we dont have that high lottery’s numbers
One is max 120 million chance 1:140 million on the other one is pretty low not worth playing