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UAB Band Dad Offline
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Post: #81
RE: The lottery
They charge property taxes that bear some relation to reality. Alabama's 1907 Constitution was designed to do two things, write Jim Crow laws into the Constitution and to protect large landholders from property taxes. We run the state on sales taxes, which are regressive and go up and down with the economy - when the economy is bad we have to cut services just when they are needed most, throw the schools into proration, lay off state employees, freeze raises, etc. Property taxes are steady and predictable, allowing intelligent budgeting. Therefore, Alabama will not depend on them.

But look on the bright side - US Steel and Drummond Coal and the like pay low taxes! They're job creators! We won't talk about what happens to people who are not large landowners - look over there! Oooh, shiny! Pay no attention to that man behind the curtain!


Actually, since our property taxes are so low, it is an incentive for US Steel, Georgia Pacific, whoever, to leave land here dormant and cheap while spending money to develop land in states where they pay more tax. We cut our own throats several ways at once. Paying 10% in sales tax is ridiculous.

I wonder what it is like to live in a state that is in the top ten for efficient state governance. I wouldn't know, myself.
(This post was last modified: 05-19-2013 11:51 AM by UAB Band Dad.)
05-19-2013 11:49 AM
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UAB Band Dad Offline
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Post: #82
RE: The lottery
And as to the taxes on the lottery - if they take 40% of 600+ million dollars, I think I could struggle along on what was left.
05-19-2013 11:49 AM
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ATTALLABLAZE Offline
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Post: #83
RE: The lottery
(05-19-2013 11:17 AM)Matrix Wrote:  
(05-19-2013 10:18 AM)Grammar-Nazi Wrote:  I don't suppose anyone of us traveled to Florida to buy his ticket, did he?

03-lmfao I'm closer to Tennessee's and Georgia's borders. I really don't have an active desire to even go to Florida.

Nope. I hit 3 numbers but no power ball. Also hit some Keno. Paid for my trip over, tickets, and dinner. Broke even. (I'm not too far from Rome)
05-19-2013 11:54 AM
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BlazerPhil Offline
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Post: #84
RE: The lottery
(05-19-2013 10:18 AM)Grammar-Nazi Wrote:  I don't suppose anyone of us traveled to Florida to buy his ticket, did he?

Raises hand.

Our pool of 160 tickets, a $320 expenditure, netted us a cool $19.

We are thinking 2 dozen glazed and a box o coffee from Krispy Kreme ought to do the trick.
05-19-2013 11:59 AM
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LightEmUp70 Offline
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Post: #85
RE: The lottery
(05-19-2013 11:49 AM)UAB Band Dad Wrote:  They charge property taxes that bear some relation to reality. Alabama's 1907 Constitution was designed to do two things, write Jim Crow laws into the Constitution and to protect large landholders from property taxes. We run the state on sales taxes, which are regressive and go up and down with the economy - when the economy is bad we have to cut services just when they are needed most, throw the schools into proration, lay off state employees, freeze raises, etc. Property taxes are steady and predictable, allowing intelligent budgeting. Therefore, Alabama will not depend on them.

But look on the bright side - US Steel and Drummond Coal and the like pay low taxes! They're job creators! We won't talk about what happens to people who are not large landowners - look over there! Oooh, shiny! Pay no attention to that man behind the curtain!


Actually, since our property taxes are so low, it is an incentive for US Steel, Georgia Pacific, whoever, to leave land here dormant and cheap while spending money to develop land in states where they pay more tax. We cut our own throats several ways at once. Paying 10% in sales tax is ridiculous.

I wonder what it is like to live in a state that is in the top ten for efficient state governance. I wouldn't know, myself.

I didn't say I agreed with what our property taxes are. Just that if they are lower than the surrounding areas and I don't have an income to justify living there, why would I move?
05-19-2013 12:02 PM
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BAMANBLAZERFAN Online
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Post: #86
RE: The lottery
(05-19-2013 11:49 AM)UAB Band Dad Wrote:  They charge property taxes that bear some relation to reality. Alabama's 1907 Constitution was designed to do two things, write Jim Crow laws into the Constitution and to protect large landholders from property taxes. We run the state on sales taxes, which are regressive and go up and down with the economy - when the economy is bad we have to cut services just when they are needed most, throw the schools into proration, lay off state employees, freeze raises, etc. Property taxes are steady and predictable, allowing intelligent budgeting. Therefore, Alabama will not depend on them.

But look on the bright side - US Steel and Drummond Coal and the like pay low taxes! They're job creators! We won't talk about what happens to people who are not large landowners - look over there! Oooh, shiny! Pay no attention to that man behind the curtain!


Actually, since our property taxes are so low, it is an incentive for US Steel, Georgia Pacific, whoever, to leave land here dormant and cheap while spending money to develop land in states where they pay more tax. We cut our own throats several ways at once. Paying 10% in sales tax is ridiculous.

I wonder what it is like to live in a state that is in the top ten for efficient state governance. I wouldn't know, myself.

Where in Alabama are the highest property taxes collected? Why it is in Mountain Brook which has taxed itself in local property taxes for its own local schools. Is this why it has the highest ranked Alabama comprehensive high school listed in the recent national rankings? They "throw money at their local schools" and look what they get in return.
05-19-2013 12:10 PM
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Matrix Offline
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Post: #87
RE: The lottery
(05-19-2013 11:49 AM)UAB Band Dad Wrote:  They charge property taxes that bear some relation to reality. Alabama's 1907 Constitution was designed to do two things, write Jim Crow laws into the Constitution and to protect large landholders from property taxes. We run the state on sales taxes, which are regressive and go up and down with the economy - when the economy is bad we have to cut services just when they are needed most, throw the schools into proration, lay off state employees, freeze raises, etc. Property taxes are steady and predictable, allowing intelligent budgeting. Therefore, Alabama will not depend on them.

But look on the bright side - US Steel and Drummond Coal and the like pay low taxes! They're job creators! We won't talk about what happens to people who are not large landowners - look over there! Oooh, shiny! Pay no attention to that man behind the curtain!


Actually, since our property taxes are so low, it is an incentive for US Steel, Georgia Pacific, whoever, to leave land here dormant and cheap while spending money to develop land in states where they pay more tax. We cut our own throats several ways at once. Paying 10% in sales tax is ridiculous.

I wonder what it is like to live in a state that is in the top ten for efficient state governance. I wouldn't know, myself.

I stand in 04-bow...Excellent post.
05-19-2013 01:02 PM
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Matrix Offline
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Post: #88
RE: The lottery
(05-19-2013 12:10 PM)BAMANBLAZERFAN Wrote:  
(05-19-2013 11:49 AM)UAB Band Dad Wrote:  They charge property taxes that bear some relation to reality. Alabama's 1907 Constitution was designed to do two things, write Jim Crow laws into the Constitution and to protect large landholders from property taxes. We run the state on sales taxes, which are regressive and go up and down with the economy - when the economy is bad we have to cut services just when they are needed most, throw the schools into proration, lay off state employees, freeze raises, etc. Property taxes are steady and predictable, allowing intelligent budgeting. Therefore, Alabama will not depend on them.

But look on the bright side - US Steel and Drummond Coal and the like pay low taxes! They're job creators! We won't talk about what happens to people who are not large landowners - look over there! Oooh, shiny! Pay no attention to that man behind the curtain!


Actually, since our property taxes are so low, it is an incentive for US Steel, Georgia Pacific, whoever, to leave land here dormant and cheap while spending money to develop land in states where they pay more tax. We cut our own throats several ways at once. Paying 10% in sales tax is ridiculous.

I wonder what it is like to live in a state that is in the top ten for efficient state governance. I wouldn't know, myself.

Where in Alabama are the highest property taxes collected? Why it is in Mountain Brook which has taxed itself in local property taxes for its own local schools. Is this why it has the highest ranked Alabama comprehensive high school listed in the recent national rankings? They "throw money at their local schools" and look what they get in return.

That ain't all they throw money at. They make sure their children have the cleanest and enjoyable recreational facilities in and out of their schools, their baseball complex is better than some high schools or colleges. I am an umpire & basketball official there, so I see these venues regularly, kids that patronize these facilities have nothing to complain about or be ashamed of. If you're getting a better quality of life out of the money you invest in your given community, it's a win-win situation. In this day and age, unfortunately, some areas still want something for nothing. And from my vantage point, no amount of money is too much where their children's present and future are concerned.

I ain't mad at' em for that. ;-)
05-19-2013 01:11 PM
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Matrix Offline
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Post: #89
RE: The lottery
(05-19-2013 11:27 AM)Smaug Wrote:  
(05-19-2013 11:17 AM)LightEmUp70 Wrote:  The best thing for the person to do in my opinion is absolutely nothing for the next year or two. Find a good investment adviser and park the money while you learn how to be rich. That's the problem with rags to riches stories such as lottery winners and athletes. They don't know how to save and invest.

That our plan, with one difference: I will go out and buy a high end sports car. Once I scratch that itch, it'll be easier to take a deep breath and map out a plan. 03-lol

Yeah! You can go get "Frenchy" & take him for a joyride!!! Gonna let him take the wheel? 05-stirthepot (jk!)
05-19-2013 01:18 PM
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Matrix Offline
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Post: #90
RE: The lottery
(05-19-2013 11:59 AM)BlazerPhil Wrote:  
(05-19-2013 10:18 AM)Grammar-Nazi Wrote:  I don't suppose anyone of us traveled to Florida to buy his ticket, did he?

Raises hand.

Our pool of 160 tickets, a $320 expenditure, netted us a cool $19.

We are thinking 2 dozen glazed and a box o coffee from Krispy Kreme ought to do the trick.

03-lmfao
05-19-2013 01:19 PM
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blazerwkr Offline
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Post: #91
RE: The lottery
Well my $40 didn't get it so far but I'm still in on the pots till early june so I've still got some hope.

As to state taxes & moving, it won't work as they've laws about citizenship that won't allow you to move into a non state tax state then cash it (as much as I would love to just so that the retards down the road won't get any of it)
05-19-2013 02:23 PM
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Matrix Offline
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Post: #92
RE: The lottery
@blazerwkr: My sentiments exactly! Isn't there a law still on the books in that stupid state constitution that makes it illegal for a state resident to even bring a lottery ticket into alabama? But, yet they can still tax your winnings, your "ill gotten gains", your "tainted" gambling money. (laughing)...****ers!!!!
(This post was last modified: 05-19-2013 02:46 PM by Matrix.)
05-19-2013 02:45 PM
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LairDweller Offline
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Post: #93
RE: The lottery
(05-19-2013 11:05 AM)LightEmUp70 Wrote:  
(05-19-2013 10:43 AM)Matrix Wrote:  
(05-18-2013 10:50 AM)Matrix Wrote:  I just have a feeling that only one person is going to claim that prize when the lucky numbers are called. And it's going to be someone who resides in a lottery state. I've yet to see an occurrence where someone from a non-lottery state ventures to a state where the lottery is played and emerge in an entirely different tax bracket & socio-economic status. Not that I'm aware of, that is...Anyway, good luck to those of you here that are playing.

Behold, "Exhibit A"... One person in florida just won that powerball jackpot and is a damn near billionaire now...."sigh..." Figures...

Not quite. By the time taxes take over he or she will take home maybe 40% of the listed jackpot. And statistically speaking he or she will be close to bankrupt in the next few years.
I think you're bankruptcy prediction is WAY off. I know the statistics, but I don't think you can apply them to this much money.
Heck, if you only take home $300 million, and received ZERO interest, that would still provide $500,000 a month for the next 50 years. Even if trying to go broke, it would be tough
05-19-2013 03:15 PM
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58-56 Offline
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Post: #94
RE: The lottery
Quote:They "throw money at their local schools" and look what they get in return.

They get exactly the outcome they want: great schools for their own children, and an endless supply of dumb ass bammers to assure their children's economic and political standing in the future.
05-19-2013 03:51 PM
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LightEmUp70 Offline
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Post: #95
RE: The lottery
(05-19-2013 03:15 PM)LairDweller Wrote:  
(05-19-2013 11:05 AM)LightEmUp70 Wrote:  
(05-19-2013 10:43 AM)Matrix Wrote:  
(05-18-2013 10:50 AM)Matrix Wrote:  I just have a feeling that only one person is going to claim that prize when the lucky numbers are called. And it's going to be someone who resides in a lottery state. I've yet to see an occurrence where someone from a non-lottery state ventures to a state where the lottery is played and emerge in an entirely different tax bracket & socio-economic status. Not that I'm aware of, that is...Anyway, good luck to those of you here that are playing.

Behold, "Exhibit A"... One person in florida just won that powerball jackpot and is a damn near billionaire now...."sigh..." Figures...

Not quite. By the time taxes take over he or she will take home maybe 40% of the listed jackpot. And statistically speaking he or she will be close to bankrupt in the next few years.
I think you're bankruptcy prediction is WAY off. I know the statistics, but I don't think you can apply them to this much money.
Heck, if you only take home $300 million, and received ZERO interest, that would still provide $500,000 a month for the next 50 years. Even if trying to go broke, it would be tough

Studies disagree with you. The size of the winnings isn't really indicative of financial security. It only increases the length of time it takes to go bankrupt. What matters is what kind of financial decisions you make. You can make even more stupid decisions with the larger checks. That's why athletes run out of money so quickly.
05-19-2013 03:59 PM
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LairDweller Offline
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Post: #96
RE: The lottery
And once you have studies that study $600 million, I'll agree with you. Extrapolating that data out that far is irrelevant...

When people are throwing out statistics, I usually see them quoting the Kentucky/Vandy/Pitt study, where they separated winners into the "big win" and "modest win" classes. The "big win" category was considered winning $50,000 to $150,000. Not exactly the same as $600 million
(This post was last modified: 05-19-2013 04:23 PM by LairDweller.)
05-19-2013 04:07 PM
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blazerwkr Offline
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Post: #97
RE: The lottery
(05-19-2013 02:45 PM)Matrix Wrote:  @blazerwkr: My sentiments exactly! Isn't there a law still on the books in that stupid state constitution that makes it illegal for a state resident to even bring a lottery ticket into alabama? But, yet they can still tax your winnings, your "ill gotten gains", your "tainted" gambling money. (laughing)...****ers!!!!

Don't know about that but wouldn't surprise me. Of the few times I worked the Kty Derby I had to pay Kty state tax then get a refund of it & then file it on my Ala state tax even though it didn't make my taxes go higher other than a couple of dollars.
05-19-2013 04:19 PM
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58-56 Offline
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Post: #98
RE: The lottery
(05-19-2013 04:07 PM)LairDweller Wrote:  And once you have studies that study $600 million, I'll agree with you. Extrapolating that data out that far is irrelevant...

I have no problem envisioning some bammer paying $100 million for lifetime season tickets, $50 million for a Ro Tahd RV, and donating the rest to Saban's retirement fund.
05-19-2013 05:59 PM
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Post: #99
RE: The lottery
Tennessee has no income tax, but there are certain lump sum type payments they do collect taxes on.

I also learned this week that all NBA and NHL players that play in the state of Tennessee have to pay a tax of $2500 per game. The Grizzlies and Predators, home teams are capped at three games.

So the Clippers, Thunder and Spurs have to pay extra taxes since they play the Grizzlies in the playoffs.

I don't know how many other states tax opposing players per game, or why Titan opponents don't have to pay.
(This post was last modified: 05-19-2013 07:06 PM by Memphis Blazer.)
05-19-2013 07:03 PM
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LairDweller Offline
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Post: #100
RE: The lottery
Tennessee also tried pretty hard to make me pay a large tax to maintain a professional license, even after i left the state and had long since retired my license
05-19-2013 07:53 PM
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