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Lottery Fever – America’s Million Dollar Madness

The Jackpot rose to a Whopping $ 640 000 000: FAT cash but Chances of winning are very, very SLIM! People across US lined up to buy their Lottery tickets with great hopes of pulling it off and getting America’s Winning Ticket – The biggest in world’s history. Richard Lustig, seven-time lotto winner says “You can actually game it, it is not a Scam.” “There is a method.” Well… I haven’t figured what that method is and neither bought Richard’s book! But here are some Quick Facts 🙂

Jackpot – $ 640 000 000
Take Home – $ 462 000 000
Odds of winning – 1 in $ 176 000 000
Uncle Sam’s Share – $ 161.7 000 000
State Share – ZERO for New Hampshire, Tennessee, Texas, South Dakota and Washington (don’t have a state income tax). Also Exempt – California, Pennsylvania and Delaware

For remaining States, The State tax varies between 3% – 12.69%

If you are a New York resident, you will have to pay another 3.87% to City Tax! That’s a whopping Tax of 12.69! Sweet, NOT!
42 States are in it to win it *Alabama, Alaska, Hawaii, Mississippi, Nevada, Utah, and Wyoming do not sell government-run lottery tickets. Although Puerto Rico has a lottery, it does not participate in either Mega Millions or Powerball; it does not plan to join either game*
A cafe worker in Arizona reported selling $2,600 worth of tickets to one buyer. Whoa!
$ 640 000 000 MEGA MILLION, RIGHT!? But… DID YOU KNOW that $640 Million is 11 hours of Foreign Imports in America! HA!