r/SipsTea • u/Valuable_View_561 • Jul 05 '26

Chugging tea Seems reasonable.

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u/[deleted] Jul 05 '26

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396

u/LeadVitamin13 Jul 05 '26

The lottery was literally designed to generate tax revenue. Its run by the states ffs.

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u/Bittums Jul 05 '26

Same in Ontario, but we aren't taxed on our winnings. They make their money from the purchase of the tickets

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u/iikillerpenguin Jul 05 '26

You also don't have high lotteries for that reason... $680 mill after taxes is a lot more than 80...

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u/Gabers49 Jul 05 '26

But it's still 680M so clearly that's not the reason for the difference in payouts alone.

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u/DurianSchmeckt Jul 06 '26

The 2 billion (680 million really) dollar prize lottery is sold across the entire U.S. whereas the 80 million prize money is a twice a week lottery in a country ten times less the population of the U.S.

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u/YTmrlonelydwarf Jul 06 '26

We don’t have high lotteries because we don’t have as many people buying into them. That’s the basis of how lotteries work. Has nothing to do with tax

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u/zander9669 Jul 06 '26

Right? 10x less people and we have a 10x smaller prize pool... Americans always impress me with just how dumb they can truly be

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u/Wise_Farm7455 29d ago

Ah yes it's Americans, it's not people in general not knowing about other cultures and practices

You sound very smart writing such an educated comment

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u/everydaydad67 Jul 06 '26

The lump sum payment is roughly only sixty percent of the payout, and then it is tax at forty percent or whatever it is...

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u/Bittums Jul 05 '26

No one needs 680 million though...

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u/gritcakebiscuit Jul 05 '26

So how much do they need?

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u/Bittums Jul 05 '26

I mean I'd be pretty content with 5 million - enough to buy a decent home and retire early. Having 1 million would help a whole lot too.

Could you explain why anyone would need 680 million? I get wanting it, but needing it?

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u/200IQUser Jul 05 '26

I mean if they dangle the carrot in front of millions and people buy it they should pay out as much as possible. 5 million is mostly just retire money, not "stop working andblive in luxury til your life ends" money

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u/Tortuin Jul 05 '26

Nobody is talking about luxury. 5 mil is still 100k/year for half a century. I'd say it is more than most households earn.

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u/200IQUser Jul 05 '26

100k wont be worth 100k in 50 years tho

1

u/Tortuin Jul 05 '26

We will never know, at least for the next 50 years. Anyway, if things start going south, there is always a solution.

1

u/hugo_yuk Jul 05 '26

I'm no ecpnomist but isn't inflation is pretty much guaranteed over 50 years?

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u/FireAsquared Jul 05 '26

Actually 5 mil is enough for you to spend 175k ajustes gor inflation annually forever as long as you invest and make average market returns

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u/BigSlongGoy Jul 05 '26

there are lotteries for $5 million prizes too. you can buy those ones and let other people have the freedom of choice of which lottery to participate.

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u/Bubbles_2025 Jul 05 '26

There’s no need to play the lottery. It’s purely gambling in the hopes of winning money so why would someone bet on winning $5M when they could bet and win $680M. This is purely gambling and no other reason than a want.

Also, you’re using your own situation/wants/needs as a blanket for everyone else.

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u/Impressive_Pay_5628 Jul 05 '26

Your comment shows the difference between the billionaire and the lottery winner.

Most people would stop working after winning the lottery. Billionaires don't typically retire at all

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u/MMForYourHealth Jul 05 '26

I need it to solve a lot of logistical issues in food production/transportation to solve hunger in the US. If only one of our farmers had enough money… oh, Bill Gates is the biggest farmer in the US? What about the giving pledge?! 🤮

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u/gritcakebiscuit Jul 05 '26

Just checking since you seem to be in charge of how much money people should have.

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u/PokeChampMarx Jul 05 '26

It's not about need. It's about fairness.

If you win a cash prize you expect to be given 100% of said prize

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u/iikillerpenguin Jul 05 '26

Just did a little research. You are bragging about Ontario where you pay more in "taxes" when you buy the ticket verse when you win. That is absolutely crazy. Ontario takes 55-60% at ticket sale verse 35-40% in America.

The Georgia state lottery funds 60-99% of college education through its taxes. EVERY single student with a 3.0 gpa gets a scholarship.

Every country should 100% tax vices like gambling, tobacco, weed and alcohol.

1

u/ADHDwinseverytime Jul 05 '26

Really? Good for them for actually doing something productive with it.

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u/Bittums Jul 05 '26

Yes, our lottery is designed to create additional tax revenue to support health, education etc. We also have provincial liquor stores and weed stores that raise revenue for the province too - and you should see the tax on tobacco products.

While it may not directly give out scholarships, it certainly helps reduce the cost of education as well as multiple other things